When I mention investor identity, some folks feel that investing any brain power on this topic is a colossal waste of time. Many people try very hard to focus on everything that is for sale in hopes of not missing out on any possible opportunity that they may trip over.
Even in a slow market there are usually plenty of things for sale to look at especially when you cross classes and property types. In today’s distracted world this can often lead to overwhelm or information overload that almost always ends in the buyer shutting down in a state of confusion. The next thing we usually hear is “there just isn’t any deals” which is rarely the case.
In my Mailbox Money Program I teach to get this part decided first, before you do anything else. Once you take the time to realize that the customer you are most prepared to serve is someone like you, things take a turn for the better. You might reflect back on a time that you were a bit scattered, and by doing so you will quickly see how time could be wasted and efforts misdirected.
There are three types of Investor Identities that tie to asset classes. In the multi-family space they assign letters to them “A, B, C and D” (“A” being the “best”), yet the same type of description can apply to all asset classes.
In this episode I explain the characteristics of each of them in detail to help you decide which one you fall in. Once you decide where you land, use that decision to best suit the needs of people more like you. By applying this logic you will save yourself a lot of time and aggravation by being able to quickly and efficiently zero in on helping those you best identify with.