Patience is key, but bid on both, and got...both

[Ted Strzelecki]

Hello BPers. I wanted to share my experience and wanted to know if anyone had something similar when they were either getting started or getting back into RE. So I am in no means an amateur in being a "buy and hold" investor. I had gotten out of it for some time and thought with so many deals out there currently and bank owned risks I would jump back in.  So my current story is this. I bid on a Fannie Mae holding starting out at nearly 100K I noticed it but thought "No way". Watching it I drive by it often enough and checking the usual sites I noticed it dropping to 80, 65, 50. I placed an offer at 30. They came back with a generous offer of 49. sent the same offer in several times over a few weeks and they didn't budge. Meantime I found another bank owned risk and made an offer and it was accepted the same day. Happy with the result I later check my email only to find out the original deal (Close to my own residence and convenient) has now dropped to 42. I make an offer of 35 and they took it. Same day I went from just watching and becoming almost impatient to buying both! I had not planned on it but we all know if you buy it right you can't pass it up. I was wondering if anyone else had a story similar to this?