Real Estate Investors Solve Problems...
We solve problems... it's just that simple!
When a successful real estate investor is negotiating with a seller what are they really doing? They are looking for a way to solve that sellers problem. Right! If you can't provide a solution that fixes their problem, guess what… you are not going to get that deal.
I love negotiating with the executors of estates. If you have ever helped out an estate by purchasing the real estate from it, you know what I mean. For many executors the problem is they don't live near the property and usually it is still filled full of personal stuff that has little to no meaning to anyone. And, my job is to help fix this problem.
How... by offering to dispose of all of that stuff. By offering to assist to keep the property clean and to check on it periodically until closing. In essence... I help to fix their problem of dealing with the property. And I have gotten pretty good at it.
However, to be a successful real estate investor in this business you have to learn to solve any number of problems.
Problems like… lenders balking at the last minute. Contractors forever behind schedule and over budget. Unexpected issues with a renovation. Tenants not paying rents on time or at all. Governments, local or otherwise implementing laws and regulations that directly impact our profits.
Alright… successful investors have to solve problems, you say... What's the big deal about that?
At first glance, I would say that this is not a big deal. Except for this…
Many real estate investors come into this business listening to any number of Gurus who have convinced these investors that this business is easy. The Gurus proclaim… just jump in, buy a property, and the money will start to flow. You and I know that it doesn't always happen that way.
In fact, what really happens is that many real estate investors jump in thinking this is going to be extremely easy, and when the first, and then second and possibly third problem shows up they start to get very quickly discouraged and drop out as real estate investors.
Now… how do you become a "problem solver?"
Easy... you reframe your thinking so that you readily accept that there are going to be problems and that one of your primary jobs is to FIX them, and in so doing, you will be very far ahead of most investors and on your way to greater success and increased profits.
The next time you are confronted with a problem, just accept that this is part of this business, take it in stride, and fix it.
To Your Success...
Pete
If you found this post to be of value, I would be honored if you passed it on to others who may benefit.-------------------------------------------------------------------------
Peter R, Giardini is the founder of The Club, Real Estate Mastermind a National Real Estate Investor Coaching program whose philosophy is that real estate investing coaching/ mentoring can only be provided by experenced "local" coaches in a one-on-one environment. To find out more about The Club visit or send an email to .
You can listen in and participate in Pete's Real Estate Investors' Mastermind radio show every Thursday night at 11:00PM on BlogTalkRadio... . All rights reserved 2009.
Comments (7)
As an old mentor of mine was fond of saying... "It is what it is... now lets get it fixed and move on."
Peter Giardini, over 14 years ago
The one thing that I always think of in this area is that it really does not matter WHO or WHAT caused the problem, the fact is that there is a problem, and the real question is How can I solve this problem. Dont cast blame, find answers.
Jim Wineinger, over 14 years ago
this is really great! i hope this will help solve a lot of investor-seller problems. thank you for posting this!
fredney dizon, over 14 years ago
Thank you so much for the compliment. It is greatly appreciated.
Peter Giardini, over 14 years ago
Also thought your radio interview with Josh was great. You really add a lot to this community.
Jon Klaus, over 14 years ago
Jon, I just caught your comment. You are most welcome. I am glad that this is helpful. Good luck putting your "problem solver" hat to use.
Peter Giardini, over 14 years ago
You talked about this concept in a forum post recently. I've thought about it a fair amont since then. When I put on the "problem solver" hat, rather than the investor hat, I see problems more clearly and solve them faster. They don't seem like such big deals. It has given me more peace of mind. Thanks Peter.
Jon Klaus, over 14 years ago