Are you still living in the dark ages? That is, are you still living in the days when your competition gives you nightmares. You see new signs around town that say, “We Buy Houses” and you have a panic attack. Why? What are you afraid of?
There’s really no reason to consider your competition as a threat. When your RE investing business is growing, the competition will be watching you and taking notes. If you are having success, they will want to know what you are doing and how you are doing it.
Why not draw them in to your circle and let them be part of your team. If that investor is a newbie, he or she may agree to “bird dog” for you for a finder’s fee, i.e. get out there and beat the bushes finding houses for you to purchase. And you can pay them a finder’s fee.
That investor may have a buyer and is now looking for a suitable property. You might have just what is needed.
Or that investor may have a property that needs to be move. And guess what? You just happen to have the right buyer in your list. (Because you learned a long time ago to build your buyer list.)
Remember what it was like for you when you were first starting out? Remember how timid and full of doubt you were? Would you have appreciated if someone else in the business had taken the time to take you under their wing and offered to team up with you? Of course.
Stop and realize that there are more than enough real estate deals. You can’t find them all, nor can you handle them all. By thinking creatively – rather than in fear – that competitor could become your greatest provider of deals. It’s all in how you look at the situation.
Get creative and think outside the box. Fear of the competition went out with the horse and buggy! This is a new day and a new era.