Law 2 Be a Shopper Not a Buyer Its Better to Miss a Good One Than Buy a Bad

Investors live for the hunt, the thrill of the chase. They are as attached to the process of searching for investment opportunities as they are to the act of buying them. They are shoppers, not buyers. In our interviews with Millionaire Real Estate Investors, the way they talked about their investments made this very clear. They were as proud of the effort they made in finding a deal and making it happen as they were of the profit they made.

These investors understand that being a shopper instead of a buyer yields two significant advantages. First, they get to enjoy the part of pers, abundance never leads to recklessness and scarcity never leads to impatience. That leads to the second great advantage of this posture: It protects them. These investors never feel the urge to compromise their standards.

They treat every potential deal with a healthy dose of skepticism. They see properties first as suspects, and only after a thorough examination will they consider them prospects. It's the qualification process. The property must meet their Criteria, and the seller must meet their Terms. Nothing else will do. They believe it is as great a day when they say no as it is when they say yes. While a buyer never leaves the store empty-handed, a shopper will do so happily. Shoppers understand that it is far better to lose a good one than buy a bad one.

Most people think buying is investing, but they're wrong. Buying doesn't make you an investor any more than buying groceries makes you a chef. Making decisions on the basis of sound investment Criteria and Terms makes you an investor. Buying isn't the decisive factor; it's just the result of a decision. If you're looking at property, talking to sellers, and saying no, you're investing. Great investors celebrate the decision-making

"It's a lot easier to get into a deal than to get out of one."

Charles Brown Millionaire Real Estate Investor Austin, TX

investing they do the most— the ongoing quest for great opportunities. Investing is cyclic. There are times of plenty and times of scarcity, but because they are shop-

process first and the outcome second. They know that their success is based not on doing deals but rather on doing great deals. They love to shop and decide—not look and buy. In the end the great deals go to the great decision makers. They go to the shoppers.

Making Money by Investing in Real Estate

Making Money by Investing in Real Estate

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