The LAPS funnel at work

[John Whitfield]

We're under contract on a cabin in Ellijay, GA, which we found on the MLS. Thinking back on the process, it struck me as a great example of the LAPS funnel at work. Here's how it went down:

We selected our target market earlier this year.  We've been watching market activity and pricing since January. 

We determined our property criteria, then looked at a bunch of properties (25+) on the MLS over the past few months. We ran numbers on the ones that looked like a good fit.

Of the ones that looked promising (8-10), we asked our agent to look in person and send us videos.  

Over the past 6 weeks, we made offers on 3 properties.  We got all 3 under contract.  The first 2 were single offer situations where we came in lower with room to negotiate.  The third required a stronger, list price offer.  The first 2 did not survive the due diligence phase. 

The property we have under contract now is through due diligence, looking great, and heading towards closing!

The most important lesson we took from all of this is just to keep at it.  We were without question pretty discouraged after the first two due diligence periods.  But, we kept looking, and we're excited with our progress to date.  So, for any newbies out there feeling discouraged, perseverance is paramount!