Hey all,
Just curious what your general experience is with other investors you've met who have rubbed you the wrong way (at least initially). I met an apparently 'experienced' buy and hold investor at an REI networking dinner a couple nights ago who barely said a word about his investments the whole night. Definitely a taker and not a giver. He seemed to be very intentional about who he talked to as far as the knowledge he could get, and the only time he would talk was to give his opinionated viewpoint on nominal topics. When any of us asked him about his investments, he kept very quiet and gave the most vague answers. I initially asked him "so what kind of investments are you buying" and his response was the typical smart-a one: "the kind that are profitable." :rollseyes: At one point, a guy asked him where he is invested and he responded "Well, I can't give away all my secrets" - I thought that was a pretty jerk-response and quite selfish, considering everyone else around him was sharing a lot about what they're doing. After some indirect probing from myself and others, we found out generally some places where he has invested and invests currently. But even one of the more senior investors came over and started pinning him with questions about why he has his opinions about certain REI topics... probably because he was just as irritated with him as the rest of us were. Otherwise the guy was pretty rude, ignoring questions from other investors - at one point I had to remind him that one guy asked him a question before he interrupted him to get the waitress to change his order, and even then he conveniently "forgot" what that investor had asked him despite it being a pretty simple question (this may have actually been the question about where he's invested where he responded how he can't give away his 'secrets').
I'm sure we all have come across these people but it's quite annoying. What do you guys generally do when you meet these kinds of investors? Cut the conversation short and try to ignore them? Or do you keep probing them and trying to network with them for future opportunities? I know with some people it just takes some time for them to warm up, but I think there's a difference, especially when you observe how they act outside of not wanting to give any information (e.g. if it's obvious they're just there to 'receive' and not 'give' especially when they're not just starting out). I tend to lean towards avoiding such persons because if this is how they are why would I want to work with them in the future? Is that just too myopic of a perspective?
On a related note, I know probably a lot of investors don't want other investors stepping on their toes or 'competing' with them so they avoid telling them where they're invested. Is this really such a thing to be concerned about? It seems like there will always be places to buy and hold and people who are looking to rent. I guess some people feel they have 'magic bullets of cashflow' and if they tell others where they're invested, they'll give it all up? In the same vein, I'm sure most investors are of the mindset "I had to figure it out on my own so likewise for you" - that part I get... sure, you don't have to tell me the exact neighborhood you're in and what deals there are, but cities and states? It just seems a bit petty to withhold that because you think others will steal the show.
