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Updated almost 10 years ago,
Put my first offer in on a great prop and... I didn't get it, How can I strengthen my future offers?
Hello,
Last week I put an offer in on a duplex in Richmond, VA. The numbers looked great, I was planning on utilizes the rent hack method at the place and it was close to my job. I put an offer in that I thought was fair and then started dreaming big for what I thought was going to be the beginning of my buy & hold investment portfolio. Well, they went with another offer. I didn't realize how angry it would make me to lose out on such a good deal! I would like some advice on how to make sure future offers get accepted
This property was a homepath house and I had I put in offer in within 3 days of it going on the market. Side note (They don't look at any offers until after 3 days & don't consider investors until after 20).
-They were asking $95,000, I offered $91,500
-Asked for 1 point on loan
-$500 earnest money
-Preapproval letter w/ 5% down
In the future, what can I do to increase my chances of getting an offer accepted?
Thanks