What got you into REI and what is your tactics for making the best of todays market?

My tactics are changing now but for the past few years, I have only been going to see the homes after the contract is signed.

Your role then becomes similar to the asset manager who manages the macro strategy vs the tactical day to day operations.If you do not know anyone in the area you want to invest in, send me a PM of where it is you want to invest and I may be able to referr someone to you via my contacts and network of CCIM and CPM associates.Good luck with the new year.

All an investor needs is one or two tactics to make it out of the rat race.Now, having said that, I can understand someone wanting to take classes or see a guru to get specific and advanced knowledge to assist in fully optimizing a RE business.

If I have tenants in the future I think I'll use that tactic.

It helps remind me of the tactics that they use so that I’m not duped when there is real money on the table.

We do a datedown the day before the sale to make sure no one filed BK or other stall tactic but in general, if our sale is at 1:00 and someone gets a postponement for some reason prior to that 1:00 start time, we would have to postpone or unwind any sale that may have occurred.

I think it's a cheesy tactic and haven't done it recently, but it's always an option.

This is where most of my business is done.Bandit Signs - affordable guerilla marketing tactic but garners a lot of calls from tire kickers, retail buyers with unrealistic ideas, etc.Newspaper ads - I was running a penny saver ad a while back and it started to get very costly because I was told I cant test an ad for 2 weeks.

Remember as an investor it is not the VOLUME and size of the deals you put together because many can be crap it is the QUALITY of the deals you do.I would rather spend a few months doing an awesome acquisition than buying up marginal to okay deals left and right.I have seen this happen on flips and long term holds.In both cases the investor did real well on one property and then started getting carried away.Pretty soon a couple of marginal deals starting to tank their long term portfolio into a neutral or negative position.Even on flips they made good on a few and then the next few went real bad and they were almost at square one again.You have to treat this business like a pawn shop.You will come across many sellers but few will accept your price and terms.So you have to keep going or come back to the seller until they get desperate enough to meet your terms.A classic tactic with a seller is when they will not accept your price and terms.Then a few months pass and they come back to you.Then if you have a couple deals on your plate you come from a position of power.You let them know you are involved with other projects now and to take this property on now you couldn't pay what you offered before and can now only do XX.There will always be another quality deal to be had but millions of marginal to okay deals to get stuck in for years and paralyze the growth and success of your real estate investment portfolio.