Real-Estate Bottom Feeders: If You Can’t Beat ’Em, Join ’Em
Posted on 08. Feb, 2011 by admin in New Construction
Anyone who has real estate for sale these days has “bottom feeders” lurking, a term that could be used to describe someone who has looked at a property or made an offer. What is a bottom feeder, you ask? Hint: It doesn’t have anything to do with catfish, sharks, or lobsters. A bottom feeder in the real estate world can be described as an opportunist who profits from the misfortune of others.
But let’s face it: We all are bottom feeders. The only difference is that some people have the opportunity, while others do not have the same opportunity. So how do you create the opportunity? The only way to gain equal ground is to take the reduced, bottom-feeder price, and then move on to the next property. This holds true for whatever your motive is for selling, be it downsizing, upsizing, getting into something new, or getting closer to hospitals, shopping, schools, and so on. Once you sell, then you become the bottom feeder when looking at your new property. You’ll sell for less, but you will also be buying or building for less. It all evens out.
So as the old saying goes, if you can’t beat them, join them—and become a bottom feeder.
W. Hugh Nelson is a general contractor and owner of W. Hugh Nelson Builders. He builds in the Green Hills, Brentwood, and Belle Meade areas. For more information about custom home building in Middle Tennessee, call him at (615) 500-3377, e-mail hughnelson@whughnelsonbuilders.com, or visit www.hughnelsonbuilders.com.
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