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Updated about 5 years ago on . Most recent reply

User Stats

21
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6
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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

4,910
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13,016
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,016
Votes |
4,910
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Mike Dymski
#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.

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