We need the small local investor!

I wrote up an offer this past week for a small investor to buy a foreclosed single family home in a suburb of Rochester. As I was working with it, I realized how much the neighborhood needs this “small investor!”

I had sold a home in this neighborhood a few years earlier and I was familiar with the values of the homes. At $70,000, this home was selling for $50,000 under what the average values are for this neighborhood. This small investor was going to clean, paint, carpet and repair this home, then put it back on the market for a price that would match the values of the neighborhood. In other words, flip it, a word that refers to process of buying a home, fixing it up quickly and selling it for a profit.

Nobody out there is giving these guys any assistance! Nobody is making it easy for them. They are using their cash and hard work! They are taking all the risks! The end results are a house is restored to its neighborhood value. Hopefully they will end up with a profit to make it all worthwhile too!

Think about it, who else is doing something like this with no government involvement? Next time you see one of these guys, give them a thumbs up! We need the small local investor now more than ever! Our neighborhoods need them. The economy needs them!

Next week I will be flying to Washington, DC for the National Association of Realtors Midyear meetings.  This will be my 7^th consecutive year going to these meetings, the first five years, as the New Your State CRS President or officer and the last two years, as an officer with the Greater Rochester Association of Realtors.

My earlier blog referenced the increased focus one gets prior to going to a convention or event and the increase in sales activity that happens.  Each year as I approach these meetings, my business picks up and it gets really crazy, but I go because I have responsibilities and committee work, not to mention the airline tickets and reservations at the hotel that have been paid for.

So what is it? Fun or Learning?

It is actually both!  Each year as May rolls around, I get excited thinking about seeing my Realtor friends across the country in DC and spending some time socializing with them.  But it’s not all fun, to spend time with them is actually networking and building a referral base for future business.

Then of course, there are the meetings and breakout sessions that are instructional and educational!  Some of the nations top Realtors and instructors participate in forums and roundtables to better prepare us for the changes in the marketplace or nuances in the business, as well as challenge us to become better professionals at what we do!

Maybe you can see why the NAR Midyear meetings are on my calendar every year and that they are both Fun and Learning!