Niche Specialist Or Transaction Engineer...Which?
I am a beginner, and I've heard two schools of thought.
Some have said, "You're better off concentrating on one thing, like Sub 2, and making that 'your thing.' Don't jump around, do a lot of stuff and lose your focus."
Others (like Ron LeGrand) have stressed the importance of being able to handle anything that comes at you, and you could give up a lot of opportunites, say if you're only into wholesaling, and wouldn't know how to do a lease option or owner finance, or even recognize what is suitable for a given circumstance (which could result in a great loss of income, according to him).
Opinions, please.
Well the traditional thing is both. Find a niche market (houses in a certain area, or a certain price range, or commercial properties with a certain description or whatever) and work that market every way you can think of. But in each individual deal know all the alternatives, L/O, sub 2, conventional financing, new and different scenerios that no-one has even thought of yet.
I think having a niche technique is a bad idea but many would disagree with me. Know all the techniques. Don't work all the markets.
If you are marketing yourself, it seems unlikely that you would place something like "Perspective (insert your niche here) sellers only please". It would be very difficult to not stumble across deals that don't fall in your desired niche. when this happens, you have a few choices. 1) Partner up with another investor and assign them the deal (For a fee of course) 2) Ignore the call, and throw the lead away, and 3) Do the deal.
I know what my decision is. You should choose for yourself.
Good luck,
Jeff
the deal will tell you what you need to do and its always different, for me anyway, you have to be able to do what ever is needed to make the deal or walk......kenmax