Feeling like a cat? Properties here today contingent today.

[Daria B.]

At first I thought I’m looking at too many properties – but – the properties I am finding are going quick. I start off with 5 and then 2 go to pending so it leaves me with 3. And in the course of a day another is lost to pending.

I keep looking and adding to my list of other potentials that all are within the criteria (ie cash flow, good neighborhood, age of home, etc. you get it, we all have criteria) but the dynamics of the market are wreaking havoc.

I cross it off (still keeping an eye out because the contract may very well just fall through) and look for other properties, otherwise I wouldn’t have anything to assess.

It doesn’t drive me too crazy but I can see it being a nightmare for a realtor (are investor-realtors more understanding and amenable to this dynamic – yes I think so)

The quick assessment now leads me to see if it will be a good investment. I'm learning to get things quicker now that I have a good spreadsheet process to input data. It's more streamlined and the check points are easier so focus is on the bottom line and not too much in the details upfront.

 I'm starting to view this as an auction of sorts in the way things are happening.

1-How do you keep up with this dynamic of properties to get out and see them when the cycle of on-market-2-pending can be so quick?

2-Are you looking only at a couple of properties?

3-If they all pan out with your bottom line, do you then choose one? And what if that one then becomes none, you have to back peddle to the other potentials on your list?

4-Are you driving your realtor crazy (albeit if you aren't the realtor :}) with all the switching in/out, IF you are doing this?

[Steven J.]

Personally, I don't look at the mls in my area. I see the same type of outcomes where homes that are a good deal are up and gone very quickly. Its a hot sellers market out there so its hard to find good properties via the traditional mls. 

You can only go and visit so many properties in a day and you're likely driving your Realtor crazy with all the showings and nothing to show for it. I'm sure they signed with you because you said you were an investor looking to close fast and you may be creating a rocky relationship if you're not meeting their expectations. 

My suggestion is to change how your finding them since your market is so hot. Maybe you need to focus on properties that have been listed for a long time, mail letters to landlords, get absentee listings and mail to those, etc. Sounds like its time to make a change.