Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

21
Posts
6
Votes
Adnan Dizdarevic
  • New to Real Estate
  • New York, NY
6
Votes |
21
Posts

Stuck and unable to start!

Adnan Dizdarevic
  • New to Real Estate
  • New York, NY
Posted

Good Morning everyone,

Currently I'm stuck and unable to start BRRRR and here is why:

I have everything in place, I saved the capitol, I have a real estate agent, I have a contractor, I have a hard money lender, I studied the market and area extensively (Connecticut state), the entire state, I have everything planned to the most minute detail whereas I even know which toilets, light fixtures, door knobs etc.., I will be purchasing and from where and at what price. My entire team and plan is set up. However, here is my issue:

Every time I find a good deal that I can BRRRR I initially would offer asking price then we would do highest and best and I would offer more then asking price to the limit that it would still

Be a good investment. I would use the BRRRR calculator to determine this. For example my

Last two offers: 1. $85,000.00 asking price, I offered $97,000.00, I did not get it. 2. $110,000.00 asking price, I offered $150,500.00 and I did not get it. I offered $40,500.00 more then asking price. Any higher and the investment would have been a bad one. I just don't understand where my mistake is. Does anybody have any advice ? Is anyone else having the same issue ? Is there so much competition out there that investors are overpaying for properties just to get them with a terrible ROI?

Most Popular Reply

User Stats

4,908
Posts
13,015
Votes
Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,015
Votes |
4,908
Posts
Mike Dymski
Pro Member
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

You are doing everything fine.  Just do it 100 more times and you will get one.  Build the funnel.

Loading replies...