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Hard Money Bankers - Spotting Tire Kickers and How To Avoid Them
A lot of new investors in the business need to be careful to not listen to tire kickers or pseudo investors. Both can be dangerous in their own right. A tire kicker giving information to a new investor is the blind leading the blind or even worse. A new investor who is willing to put up their money to get in the game and takes advise from a tire kicker, can lead to bad decisions. The more dangerous person to avoid is the pseudo investor. These are harder to spot because they usually have done a few deals and even if they botched them up, they won't tell people. Then even though they lost money and shouldn't be in the game, they decide to give new investors advice. New investors are eager to learn and drawn to these conversation because the investor they are talking to has 'done deals'. My suggestion is to always make your own decisions and if someone appears to be a good investor, take your time getting to know them before jumping into anything with them. Experienced successful investors can spot tire kickers and pseudo investors very quickly.
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