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I Need Your Opinion

WadeFenner

Inspired Forum Member
Joined
Nov 7, 2007
Messages
148
Hello All,First off I’d like to clarify a few things

No I haven`t lost my mind, fallen off the deep end, or anything of that nature BUT I have made a slight career change. Maybe not a complete change but more like a little shift.

Yes it`s true – I took the plunge and got my Realtors license. I know for many this seems like a strange idea for me but to be honest about it I needed a little change.

I`ve been working with an incredible business coach for the last 18 months and I`ve learnt a lot about myself, how I operate, and how to set up my business for my particular personality type. Essentially I`ve been doing it all wrong, well not everything but a lot of it.

As an extrovert I need to be out there really getting engaged with other people, building a business that is based on my personal core values and really bringing value to other people lives. The way I had my business and office set up wasn`t working for me that well so I decided to make a drastic change and start servicing the needs of others by helping investors obtain the results they`re looking for.

No I`m not going to carry on as the foreclosure go-to-guy in fact I`m not sure what area of real estate I`m going to focus on. Right now I`m not doing a lot with the license. I`m spending a lot of quality time feeling out my new role and trying to decide which way I want to go with it.

Obviously my target market is investors, as that’is where I have the greatest amount of credibility, but I`m not interested in getting crazy busy being a generalist. I want to pick an area where other people need the most assistance and see what I can do to help them.

The most efficient way for me to find the best route to go is by asking you, the active investor, what your greatest needs are. By having this sort of conversation with dozens of investors I`ll be able to determine what the greatest obstacle is for most investors then I`ll tackle the problem.

If you are interested in sharing a little information about your own real estate obstacles I`d love to talk. I need to speak with a total of 50 investors over the course of the next month then I`m going to decide what area I`m going to focus on.

Let Me Be Absolutly Clear On One Thing


Yes I’m now a licensed Realtor and ultimately I like having clients but that is not my objective right now.

My main objective, under the guidance of my business coach who is an extremely successful entrepreneur, investor, business builder and business coach (Greg Habstritt), is researching the pains investors are feeling then I’ll decide what route I take in assisting people. I`m intent on being a specialist not a generalist, a strategy which has served me well in the past. This research is not intended to be a back door to getting clients. Yes it may ultimately result in assisting me in building a client base but it’s not my current objective.

Any further discussions past the initial conversation will be completely up to the individual.


So please if you`re interested in discussing your real estate buying or selling roadblocks
please send me a PM, an email, or just call me up I`d love to talk with you about what you feel is a major real estate hurdle.
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
QUOTE (WadeFenner @ Nov 2 2010, 06:46 PM) ... and got my Realtors license. .... the active investor, what your greatest needs are. ..
interesting .. very interesting ... and good luck to you Wade !!

Why a (successful ??) investor that makes money in its sleep is trading for a crowded profession that is on call almost 24/7 and makes $s only when someone buys or sells BEFUDDLES me !!

Why Wade .. WHY ???

Our greatest need: finding deals (on the buy side) that make sense .. IN EDMONTON .. in APARTMENT BUILDINGS !!
 

gwasser

0
Registered
Joined
Oct 22, 2007
Messages
1,191
QUOTE (ThomasBeyer @ Nov 4 2010, 08:55 PM) interesting .. very interesting ... and good luck to you Wade !!

Why a (successful ??) investor that makes money in its sleep is trading for a crowded profession that is on call almost 24/7 and makes $s only when someone buys or sell BEFUDDLES me !!

Why Wade .. WHY ???

Our greatest need: finding deals (on the buy side) that make sense .. IN EDMONTON .. in APARTMENT BUILDINGS !!

If you need some advice about being a rookie Realtor read my lively posts.

One of my current frustrations is investing in Edmonton. I own in, right you guessed it ..., Queen Mary Park. The investment, 2 units I bought 5 or more years ago did well. They are managed by an Edmonton property manager with mixed results.

Partly our own fault. During the `Tiger Woods` years things were always going well and so we (Rental Pool and Condo Corp owners located mainly in Calgary) barely bothered to read the monthly statements. Good cash flow and rising values. An investor`s dream!

Next we experienced a minor downturn and many Edmonton and Calgary investors had vacancies. Our Edmonton units experienced evictions and expensive renovations. Also the cash flow dried up - lots of vacancies - things turned sour. Was it the PM, was it the economy? I visited the place a number of times but that is not enough to control what is going on.

We started to read the monthly statements in more detail and noticed that they really were more confusing than informative. The reserve fund was low and charges were made erroneously to the rental pool rather than the condomium corp. Finally we started some real Rental Pool and Condo Board meetings.

The PM is cooperative but most of our pool`s investors are in Calgary and so all is done by teleconferencing. I think things are turning around... I certainly hope so. But I realized that by investing in Edmonton we had given up one of the things that many real estate investors value so much: control.

So, I`ll be retrenching to Calgary. Sooner or later I`ll sell in Edmonton. Possibly as early as next spring once the rental pool and condo corp are cleaned up. But to answer your question about investor frustration - it is: not being capable to control out of town real estate investments.
 
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