All Forum Posts by: Jonathan Greene

@Account Closed find that quote in my posts, please, that no one who overpays is a willing buyer. 

@Jefferson Sanchez I appreciate that, thanks.

@Sam Josh I am not trying to solve a problem. I am neither on BP as a teacher or a student. It's a satirous and sarcastic observation about what pops up in the forums. I don't compete with Bros for deals. I have an off-market deal flow, all of the deals are just me. It's just what people, clients, are up against when Bros big. But sure enough, it's not just Bros, a lot of people are up-bidding to win. It's just that Bros, in general, like to beat their chest about it. It's an intentional generalization. I find it confusing that everyone thinks these forums are so serious all the time. There are so many garbage posts every day it's nice to have a laugh, even if it's at Bros expense. Anyone who think it's about them it putting that on themselves, I don't know them.

It's a little bit shocking to me that so many people find the first post on this thread negative. It's clearly sarcastic and satire although based on facts gleaned from these forums every day. My guess is that, even though the post is directed at no one in particular, some people aren't solid on their investment strategy or knowledge so they interpret the post to be about them.

The even weirder part is actually real-life Bro culture to a tee. Even though they have not been personally called out, Bro steps up and comes back with personal attacks in an Internet forum which of course are going to get flagged. But that's a Bro flex. An investor discussion would be, like many of the others in here, where it's a debate about the realities of the situation and why people are buying RE without enough knowledge right now.

The culture of Bro-ness these days is about everyone agreeing and not challenging each other and just being a good Bro, but that leads to terrible decisions because no one feels like they can call anyone out and be honest. Anyone who will be a good long-term real estate investor has to learn how to tell, on the spot, what a good deal is and what it isn't and you don't get there by everyone telling you that you are so smart and cool just for showing up.

Coaches hold people accountable and don't listen to their brags on one end or their excuses on the other end and that is why some Bros are hard to coach. People who think the forums are for beginners only and everyone should not ever challenge them to see what they know don't really want to help anyone, they are just looking for Bros, friends, or deal partners, or to sell the new investors a new class or something else that won't hold any value.

The more leads you have, the more leveraged you can make your system. I have VAs who do the initial follow up to all responses to our post cards or mailers. They have a script and get as much information as they can and put it into the system (Podio). Once they have made contact (they also repeatedly call back hang ups because we get their number) and gotten in touch with the seller, the contact is marked for me to call if they are receptive. If they are uninterested and say it's ok (permission-based as @Greg Dickerson said) we ask if it's ok to check back in six months and the set that task. If they ask to be removed, we remove them and mark them as dead. Once I call, I will call once a week until I get them. I hope that helps.

We use texts when we know it's a cell phone, but only once they have responded to a postcard by calling. A hang up gets one text plan and a message gets calls right away.

@Jay Hinrichs agree on that all. It's just that the smaller markets adjust both ways much quicker and with much more of an effect on all owners.

@Nikki Cuozzo in my opinion, all sellers who are still owners and present should do the removal. No one will buy an on-market, market price deal with an underground tank. The risk is too high and tank insurance does not cover as much as people think.

@Kyler Cook the sign of a Bro Investor is resorting to personal attacks or internet flexing. Nice job, bro. If you read several other follow ups I talked about making early mistakes all the time, but fixing them. Also, the only time I talk about how long I've been doing it is in response to posts like "good luck being negative on BP, your business will suck."

I am not on BP to get business. If anyone actually really reviewed the forums they would see the million posts of me responding to first-timers, when they don't Bro, with advice but not holding their hand and burping them just because they are ready to invest right now.

@Account Closed that quote that David pulled out was about wholesaling. My contention is that non-distressed off-market sellers who do not HAVE to sell can get turned off selling by an inexperienced wholesaler who does everything wrong. Then the other wholesalers in the market have to either try to clean up their mess or wait. And sure, that's all business, but that was the point of that one quote.

I also made this point in multiple follow-ups, it's not about supply and demand. Of course, the market itself dictates the sale. Specifically for bro investors and the original post, they sometimes are acting and buying on bravado and false information so even though that creates a current market value, it was inflated based on lack of knowledge. And when that happens, the value comes back down and jams up everyone else on the block who thought they were going up only to realize the overpayment prices were not sustainable and it comes back down.

So many people are buying RE now as a flex and ignoring signs of bad investments. I know it's stupid, but it happens every day. That was all a part of the OP. I see it in every market. People want to win, they want to be a REI, they can get the financing so they go up, but there are trickle down effects to constant overbidding in a market. It can't sustain overvaluation. Supply and demand shifts and then everyone is pissed.

@Jonathan R McLaughlin thanks and I agree. My relationships with all sellers are very good because I am always there for them when they want to talk about the offer again, but I always stay honest and straightforward and sure of my analysis. Sometimes it takes a month, sometimes it takes six months, sometimes they think they have another deal and when it fails because the buyer lies about no repair requests and then makes ten, they call me. Good point to to give them an option of presenting whatever they want. I have done that and had information there to show them that they were off.

@Bill F. yeah of course the price doesn't have to make sense, but the point of my value conversation was inside the original post and follow-up which is about how new investors can pay more, not because it's worth more, but on a set of factors that aren't real so the so-called supply and demand isn't real. There is more to value than the three things you mentioned, there are a lot of nuances since block values can fluctuate 20 percent because of one sale or one foreclosure. I appreciate the analysis, but you are commenting on a line inside a 100 post thread and missing the theme about what the value means in this context.

@Account Closed totally fair points and the Bro Investor does not affect me at all. I've had the same system for a very long time, it's just an overall commentary on the state of investment. No one, not even the naysayers, could say that not every single person they know wants to or thinks they can be a real estate investor now. People are capitalizing on that and selling false goods to these Bros and pumping them full of steroid-like deal flows to catch their ego working strong.

@Dan H. same for me. I still don't use any of those terms at all. I invest on knowledge and I do think the plethora of resources out there makes new investors, especially Bros, think they get it more than they do. I still contend that yessing young investors along and always telling them how smart they are and good they are doing will only allow them to go broke, especially when a market downturn is coming.

@Kyler Cook sick burn, brah.

@Christian Rojmar I agree with what I've been hearing, but "success" is not seen the same way I see it. Having twelve properties that cash flow and mortgages on each is not success to me. Having your own cash, as many lines of credit as you need, and no debt to me is success. The encouragement to get doors to have them is insane to me. A lot of the so-called success stories could crap the bed big time in a market downturn like 2008. Just ask the big guns who got killed then what will happen when you are door rich and cash poor.

@Sam B. great points. Just wait until we hit a RE recession. These forums will be filled with crying because they are so highly leveraged and completely screwed. Most of the young investors are honestly too young to understand just how that happened and how it can happen to them again, soon.