It isn’t uncommon for an investor to drive up to an appointment and see multiple other investors already there. The motivated seller sets up various appointments in the same day and the deal goes to the highest bidder (normally).
It also isn’t too uncommon for owners who fit certain criteria to get a LOT of mailers from real estate investors, all wanting to buying their home for a cash offer.
When seeing this, it’s easy to think that the market is oversaturated with investors and there isn’t enough supply to go around. This idea is the perfect storm to drive you to have a scarcity mindset.
You become tight lipped with your investor friends in fear that they’ll get a deal that could have been yours.
You also stop helping other investors out who might not be as far along as you, because you don’t want them to know your secrets.
It’s a terrible mindset to have because instead of being positive and thinking about improvements to make to your business, your focus is on being guarded so you can succeed and beat out the competition.
That’s where investors start to lose momentum because their focus and core values aren’t a priority anymore.
If you get too caught up in not sharing, your network is going to notice. Your connections that have helped bring you deals will take note that you are only concerned about yourself.
We’ve said it over and over again…
Without your network, finding deals will be more difficult.
There are always going to be more deals popping up. You might have to get more creative in your exit strategies or your buying structure, but they are there for the taking!
Instead of a scarcity mindset, focus on always being a giving person, connect and network, and figure out the best strategy to buy houses in a market like we’re in today.
When you’re a giver, you’ll receive more in the end.
If you have only bought at a certain price point before, consider widening your range just a little to bring in more potential leads.
Allow your business to adapt as the market changes.
It’s better to consider new opportunities in a hot market instead of having that scarcity mindset.