When does it get easier to pass a deal?

[Paul Bowers]

I closed on my first deal in February and am getting close to having the rehab done (doing as much of the work myself as possible). I've been looking for my next deal and it seems so tough to pass on a deal. I want so badly to keep going I find myself starting to "massage" things like CapEx and maintenance to make the numbers work. How long did it take everyone else to be unemotional in their evaluations and just strictly look at the numbers?

[Jerry W.]

Hey @Paul Bowers.  I don't know that the urge to massage the deal to make it look more palatable ever truly goes away.  You have to work at it constantly.  I have been doing this for over 20 years at some level and still fight with it.  One thing that seemed to help me for awhile was when I looked at numbers only and never looked at the property itself.  I guess you have to be careful of letting how you like the property to affect the price you pay.  There are times however where looking at the property is what made me know it was a bargain.  Sorry no help from me on this one.