Sunday, September 9, 2007

N is for Numbers

What are investors looking for?

What needs to add up for a first time buyer to get the first step in their dream?

What do we have to go through to find the right ones?

The numbers.

Investors look at the price, the carrying costs, and the potential cash flow. They pour over spreadsheets, or work their fingers to nubs on their financial calculators. The result is the no/no-go decision on the potential rental property.

First time buyers (and not so first time buyers) examine their budgets. They look over their savings (and their equity for those that have played the game previously), and try to figure out how much more they can scrape together before closing.

We send out cards, talk to people, and market to the numbers to find clients.

Everything about this business revolves around numbers. Telephone numbers, debt/income ratios, price, concession costs, and conversions factors. But, at the same time, I am told by other agents all of the time that they aren't "number people." Occasionally, I strike back with a "Look Sugar..." (remember, here in the south Sugar, Sweetheart and Honey don't have to carry a romantic connotation... or there are hundreds of Waffle House waitresses that are in love with me) "... you ARE a number person. You may be a people person, or a (?)letter person... but you are a number person, too."

Embrace your numberness.

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