I Can’t Invest Because I’m In A High End Market
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Read Transcript for “I Can’t Invest Because I’m In A High End Market”
I get this question all the time: a lot of people are too intimidated to invest in high end, expensive markets. Let me tell you why and how you CAN invest in higher end markets.
“I’m in a high end small market in Martha’s Vineyard where many of the sales are over a million dollars and are funded with cash from trust funds. Thus, I need help in that type of market. I don’t seem to be able to make a dent as an investor.” – John Dowing
Joe: One thing you have to look at, John, is the fact that there are a lot of people making money in real estate in Martha’s Vineyard right now and so you need to figure out how you can make money in that same market – if they’re making millions of dollars, how can you make money as well?
Joe: To say that a particular market doesn’t work is absolutely insane. There are people making money in every market all over the country. Specific methods may work better in some areas than others, so you have to find the ones that are going to work best for you in your market.
Joe: The “For Rent Method” works very well in markets like this; it can work for you there. Buying these properties on terms can work for you. You have to learn how to talk to these people and to not be intimidated by people that have a lot of money.
Joe: I think it really comes down to that – most people out there who live in a house that’s worth $200,000 find it intimidating to deal with somebody who lives in a house that’s worth a million dollars. They think that because of the fact that they have more money, somehow it’s a caste system and that they’re better than they are because they have more money. Even though they may know that logically that’s not true, they still feel intimidated by people that are in that situation.
Joe: Don’t be intimidated. Use the techniques I’ve taught you, and when you have specific problems that you’re running up against, let me know. I think the thing that you need to practice is talking to sellers and learning how to speak persuasively to them. Using the audios we’ve given you that I did with Jim and Azam and the “Push Button Method” are a good way to start in this process. Good luck to you. Take care.