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Hey, everyone. It's Joe Crump. This next question is from John Dowing. John says,
"I'm in a high end small market in Martha's Vineyard where many of the sales are over
a million dollars and are funded with cash from trust funds. Thus I need help in that
type of market. I don't seem to be able to make a dent as an investor." - John Dowing
One thing that you need to look at, and you have to look at the fact that there's a lot
of people that are making a lot of money in real estate in Martha's Vineyard right now,
and you have to figure out how you can make money in that same market. If they're making
millions of dollars, how can you make money in that market as well?
To say that a particular market (and I hear this a lot) - to say that a particularly market
doesn't work is absolutely insane. There's people making money in every market all over
the country. Now, specific methods may work better in some areas than others, and you
have to find the way that's going to work best for you in your market.
The "For Rent Method" works very well in markets like this. It can work for you. Buying these
properties on terms can work for you. You have to learn how to talk to these people
and you have to learn not to be intimidated by people that have a lot of money.
I think it really comes down to that. Most people out there, if they live in a house
that's worth $200,000, they're going to be intimidated by somebody that lives in a house
that's worth $1,000,000. They think that because of the fact that these people have more money
that somehow it's a caste system and they think that somehow they're better than them.
Even though they may know logically that's not true, they still feel intimidated by people
that are in that situation. Don't be intimidated. Go use the techniques
that I've taught you, and then when you have specific problems that you're running up against,
let me know. But I think that the thing you need to practice
is talking to sellers, learning how to speak persuasively to them. Use the audios that
we've given you that I did with Jim and Azam and the "Push Button Method". That's a good
way to start in this process. Good luck to you. Take care.