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Updated almost 9 years ago on . Most recent reply

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Ching Yang
  • Kansas City, MO
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Are investors just a bunch of scam artists?

Ching Yang
  • Kansas City, MO
Posted

So I got a lead on a property that I was planning to wholesale to some investors/buyers. Upon meeting with the lady and having some small talk with her and then I started talking business and started getting into my "spiel" of what I plan to do with her property and explaining how "wholesaling" works and how I would assign the contract to another buyer and she about flipped out on me. She went off saying how everyone of us so called "investors" are just a bunch of scam artists looking to twist the arms of property owners in hopes of stealing their property for a ridiculous price and then make money off of it.  Even though she is desperate to get rid of her property, she felt like I was taking advantage of her. And she's exactly right. I am. But that's all part of how to get a deal in this business right? Taking advantage of people who are most vulnerable, the motivated sellers. Turns out she didn't completely chase me off with a shotgun or anything, but she did tell me that if her situation doesn't improve, she'll definitely be calling me to discuss more details. So all wasn't lost, she kept an open door with me and I tried again to explain everything to her on how wholesaling works and tried to be as transparent as possible with all the details. She understood it, and she appreciates the fact that I was very upfront about it, but she still thinks it's a sneaky way to get make a quick buck. So what say you? Are we just a bunch of scam artists? 

Most Popular Reply

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272
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Leland Barrow
  • Investor
  • San Marcos, TX
360
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272
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Leland Barrow
  • Investor
  • San Marcos, TX
Replied

Time is money. Buying houses at a discount is about saving a person time or reducing their stress. Both of those are legitimate reasons. People sell their used cars to dealers to save time. People pay a mechanic to do their brakes to save time. People order from a drive thru to save time.
You should learn how to spin it that you are the person that deals with the stress and takes the time to get the property sold so that she doesn't have to worry, stress, or spend unnecessary time dealing with it. But you don't do it for free.

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