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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: It ain't tough enough!! Posted by Ward-CA- on June 10, 2001 at 3:03 PM In Reply to: risk vs reward posted by todd-wa on June 10, 2001 at 12:22 AM : With just enough knowledge and ignorance of the pitfalls of foreclosure purchases to be dangerous, I've been give more thought to the possible problems. Does one just factor in the occational loss. The size of the transaction limits most from much diversification as in stocks or bonds. =•=•=•=•=•=•=•=•=•=•=•= Todd, I guess you don't know it yet, but the biggest bar to success in this business is not that it's too tough, but rather that it's TOO EASY for newbies to enter!! And though you might think it's tough in the beginning, trying to get enough money, knowledge and time to become successful, it won't be too long before you wish it was two or three times as tough as it is--just to keep your potential competition at bay and out of the game. By the way, you can diversify in this game to a great degree. There's diversity in the type of foreclosure you buy (acreage, lots, timeshares, apartments, SFR's, condos, commercial, industrial, residential, and special use) whether you go low end or upper end and where you focus your attention (coastal, inland, mountain, resorts, blue collar, etc.). And of course, you can specialize in buying your foreclosures from the trustor, the trustee or the beneficiary too. Or you could ignore all that and do junior bene buyouts under the noses of just about all your competition. Yes, real estate isn't as liquid as the stock market and frankly I glad it isn't. It just about forces you to become a long term player whether you like it or not. And it's the long term real estate portfolio that you gradually acquire that's the penultimate payoff in real estate. Some day you will probably agree with me, and have as your motto: "What you think is good, is really bad. And what you think is bad, is really good!!" Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : With just enough knowledge and ignorance of the pitfalls of foreclosure purchases to be dangerous, I've been give more thought to the possible problems. Does one just factor in the occational loss. The size of the transaction limits most from much diversification as in stocks or bonds. : =•=•=•=•=•=•=•=•=•=•=•= : Todd, I guess you don't know it yet, but the biggest bar to success in this business is not that it's too tough, but rather that it's TOO EASY for newbies to enter!! And though you might think it's tough in the beginning, trying to get enough money, knowledge and time to become successful, it won't be too long before you wish it was two or three times as tough as it is--just to keep your potential competition at bay and out of the game. : By the way, you can diversify in this game to a great degree. There's diversity in the type of foreclosure you buy (acreage, lots, timeshares, apartments, SFR's, condos, commercial, industrial, residential, and special use) whether you go low end or upper end and where you focus your attention (coastal, inland, mountain, resorts, blue collar, etc.). And of course, you can specialize in buying your foreclosures from the trustor, the trustee or the beneficiary too. Or you could ignore all that and do junior bene buyouts under the noses of just about all your competition. : Yes, real estate isn't as liquid as the stock market and frankly I glad it isn't. It just about forces you to become a long term player whether you like it or not. And it's the long term real estate portfolio that you gradually acquire that's the penultimate payoff in real estate. : Some day you will probably agree with me, and have as your motto: : "What you think is good, is really bad. And what you think is bad, is really good!!" Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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