It seems like most of the people posting here have NO experience…
I have done several homes, consider myself experienced, I check the site daily but it seems like everyone wants to know how to do shortsales, foreclosures, the basics of the business.
Forgive me, but… isn’t that why I have spent time calling banks, seeming like a fool, calling pre-foreclosures getting yelled at, selling bad land contracts, etc…etc…?
Yes, if there are better ways of doing things that you have done and TRIED!!! We are here for you. WE are not here for the individual “testing the waters”…
Sorry, I HAVE money tied up in this. THIS is my living.
Now that all these are available, are we telling what we’ve learned to everyone?
I realize we are here to learn. Are we hear for lessons?
No one here has ANY!! experience… e.g. “do these numbers work”?
I don’t know, if you don’t! Don’t ask ME!
Every post should say, " I have money “here” not should I put my money here"?
This is INVESTING.
DO IT OR DON’T!!!
WE ARE NOT HERE SO YOU CAN SEE WHAT ANYONE ELSE IS DOING!!!
WE MAKE MONEY HERE!
I am new in REI and even so I have to say I agree with you here.
I mean I ‘get’ being anxious and wanting some measure of comfort that you are making the best choice before you make it but at the same time there are too many people asking things they should already know before they take the risk…it’s like going for a swim in the Pacific and once you get out about chest deep asking the group on the beach if the class you took to learn to swim was good enough or which technique for treading water works best in ocean currents.
So what I don’t ‘get’ about some of the posts I am reading is how unsure people are or how much they don’t know before they take their risks and invest a lot of money
I get the gist of your comments but face facts, a lot of people want to get information before they jump in with both feet. No one was born with real estate investing knowledge built in. We all started somewhere and we all had the “butterflies” before our first deal.
Yes I am a full time investor that makes their entire living from the business and yes I have paid for my education both through seminars, formal education and the school of hard knocks. However, I am happy to share my experience and knowledge with others. It promotes a healthy business environment and it certainly can help others avoid some of the pitfalls I have encountered over time. Yes we are here as professionals to learn from one another but part of the price we pay for this is to help “newbies” get going.
If I want to make a million dollars, I should NOT ask someone how do to it, who has already done it?
I’m sorry, but I disagree. I have alway been a strong believer in the statement, “if you don’t know something, then ask.”
If some people didn’t take the time to teach me the basics of short sales in my beginnings, I would have never got into it. My success in short sales began with asking questions. After all, isn’t that the purpose of these forums?
If the only people who posted here were those who already knew what they were doing, then what would be the purpose of these forums? Note that the very first sentence in the REIClub forum rules states: “The discussion forums are intended for asking and answering ONLY INFORMATIONAL questions SPECIFICALLY related to real estate investing.” Those of us who are professional investors and who have been doing this for a number of years, wont ask as many questions as we can answer.
Bottom line, don’t be stingy. Share you knowledge to help others. Help them be successful rather than setting them up for failure with the attitude of, I had to learn the hard way so others should too. ;D
I am all for asking questions-I just believe that you should do some homework first, then ask questions to clarify or open a discussion to share your point of view and ask for feedback.
I just see a lot of posts where people do not seem to have done much research and honestly, reading where folks are asking very basic questions when they are already in the middle of the deal shocks me :shocked
I have always been a risk-taker so I have no problem with just jumpin in-maybe I have just gained a little wisdom in my old-age and know that for me calculated risk is better than blind risk.
I understand a seasoned investors frustration with that…everyone should do their due dilegence, even newbies.
You come across as very greedy “WE make money here, I have spent MY money doing this, DONT ask me how to get RICH like I am”. I will tell you one thing…when I become a seasoned investor, I definitely will not make a post on here like this. I apologize if I am wrong, but that is how your post came across.
What is due diligence when it comes to REI, or what is doing your homework? Spending thousands of hours and dollars for education? You should be HAPPY that you are making money off of RE. Whenever I start making money from RE, I would LOVE to come here and actually give advice rather than ask for it like I usually do.
Now, I understand what you mean when newbs ask “what is a foreclosure” or “what is a short sale” or “what is a hard money lender”? These are very basic questions, but all you need to say is, “do a search on this forum and you will have more information than you have asked for”.
As stated above, this is the reason (correct me if I am wrong) why this forum is here? If, for some reason, ONLY seasoned investors are allowed to post here, I have other forums that I would gladly go to, but hopefully that wont be the case, because I love it here. I have received more help here in one month, than I have at a motorcycle forum in two years.
Why would someone come on here and post questions if they knew what they were doing already? The purpose of this forum is for people to LEARN. They don’t know, so they ask. Better to spend a little time learning that lose a ton of money, right? Very simple concept. If that is too hard for you to grasp or you don’t like what you see here move on.
People who already know how to do it don’t have to ask questions about how to do it.
So that leaves the beginners, and if they don’t post their questions, the forum will just be a big blank with nobody posting.
I think that what would be really super would be to have some of the experienced people walk the forum through one or two of their deals as they were happening. Let the beginners see that there is no big closely held “secret”. That it is just a long series of small tasks that have to be done; some of them very hard work and some of them just keeping everything organized and on schedule.
EXPERIENCE is a valuable commodity & until you get it you count on the ones with it to help out. there are NO dumb questions imho.
rich: very well stated post. people should always ask themselves
if they are part of the problem or part of the solution. if they aren’t
part of the solution then it’s usually time to move on(especially if you can’t tolerate newbies) because we are,happily, loaded with them.