Real Estate Investing Tip – I recently was working with several clients in Orlando, Florida and they did not completely understand the benefit of putting out bandit sign to attract cash buyers and off market real estate deals. The clients claimed that everyone in the local area was doing it and why should they do it because the competition was too great. Over the years, I realize in life and in business not everyone will put in the same amount of effort.
When we took the time to call a few of the bandit signs, we discovered that most other real estate investors did not answer their phone as well as several investors had voicemails that were already filled and we could not even leave them a voicemail message. I often say that some people are in business in spite of themselves. They are trying to do all the right things but often miss the little things that can make the difference. A missed call can be a missed opportunity.
If your bandit sign was up next to these competitors and you answered the phone or had available space on your voicemail then you might just get the deal they missed! Right? Understand what your competition might be doing and then, it is is simple, just do it better!
Competition is a good thing and we should look at our competition as a benefit to our real estate investing adventure rather than a problem. Every industry has rivals and competition. We look at Target vs. Walmart, Burger King vs. McDonald’s, Home Depot vs. Lowe’s, etc. Even though an industry may have competition, their is always room in the market place for someone that has a niche or can do it better than the others. If you can provide a product or service cheaper or better, you might leave the competition in the dust!
Are you going to find that niche in real estate? Are you going to do it better than your competition? You may have to ask yourself how bad do you really wantto succeed with real estate investing? Are you willing to out work your competition? If you do, that will distinguish you and your real estate investing business from your competitors. You then will create more deals and make money!
Live your life in the moment with no regrets! Believe and Achieve! – Joe Jurek
“I have been up against tough competition all my life. I wouldn’t know how to get along without it.” – Walt Disney