You win some, you lose some

[Dawn Anastasi]

Sometimes you don't always get a property, but it's best to stick to your numbers. Here is an example.

Saw the property in mid-June. Seller was trying to sell it himself by listing on Craigslist and was asking $20,000. The property needs some work.  It had been sitting for a couple of months by that point.  

Mid-June

• Me: I'll give you $16,000 for it.
• Didn't hear back from him. Followed up.

End of June

• Him: I'll sell it to you for $20,000.
• Me: We're a little ways apart on price.

End of July

• Me: I'm following up as I see you still have the property available. I'm offering $16,000.
• Him:  I'll sell it to you for $18,000.
• Me: We're a little ways apart on price.
• Him: I just put it on the MLS and I expect it to be gone soon.

End of August

• Me: I'm following up as I see you still have the property available.  I'm offering $16,000.
• Him: Because of your incredible persistence, I'll sell it to you for $16,500 plus closing costs.
• Me: I will pay $16,000.
• Him: I'll guess I'll just turn it into a rental.

So, I'll continue to watch the property and if it really is still available at the end of September, I may try again.