Slow start...getting frustrated

[Farakh Zaman]

Hey all,

So we've been at it for many months looking for a deal and gotten close a couple times but haven't had an offer accepted.  The niche we decided on was small multifamilies. We've been looking at 4-plexes in Colorado and Missouri because we know the areas. But so far we haven't had an offer accepted and there isn't a lot coming on the market currently. 

Any one else been in a similar boat where you analyze something everyday, put in offers and get goose egg.  Gets frustrating at times.  Just wanted to vent and hear others experiences. 

[James Masotti]

Originally posted by @Farakh Zaman:

Hey all,

So we've been at it for many months looking for a deal and gotten close a couple times but haven't had an offer accepted.  The niche we decided on was small multifamilies. We've been looking at 4-plexes in Colorado and Missouri because we know the areas. But so far we haven't had an offer accepted and there isn't a lot coming on the market currently. 

Any one else been in a similar boat where you analyze something everyday, put in offers and get goose egg.  Gets frustrating at times.  Just wanted to vent and hear others experiences. 

A lot of markets are heavily saturated and due for a correction (personal opinion, I'm not a fortune teller) as a result of this it's really hard to find a good deal on the MLS where you can use conventional financing to get the job done. I'm not saying it's impossible and there are still some under tapped markets out there I'm sure. I just think the majority of things out there right now are hyped and everyone is trying to get into the game right now. (just look at the growth of BP over the last 5 years) Keep on trucking and you'll find a motivated seller eventually.