Investor · Cumming, GA · Member since 2016 · 153 posts · 34 votes
So, I spent last night in bed with my mind racing, wondering if they would accept the offer, how to fit a 3rd bedroom into this 1900 sqft 2/2, and running through the list of all the repairs needed. How many offers/properties did you make before you could easily sleep like a baby without worrying about it? :D
So, I spent last night in bed with my mind racing, wondering if they would accept the offer, how to fit a 3rd bedroom into this 1900 sqft 2/2, and running through the list of all the repairs needed. How many offers/properties did you make before you could easily sleep like a baby without worrying about it? :D
You just aren't making enough offers. If you get a "yes" on every offer, you are offering too much. It's very hard to make money on a property that you buy for list price from the MLS.
Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
8y
@Jack Forester it gets easier over time. I felt the same way when I stated out but over time it became more of a business and less emotional.
@Account Closed the MLS is regional and cash flow is regional. My partner and I have still been able to buy straight off of the MLS in Arizona and still been able to make the numbers work for the lease option. But we are buying more in the outskirt markets such as Apache Junction, Florence, Coolidge, San Tan Valley, and Casa Grande.
Aurora, CO · Member since 2016 · 158 posts · 118 votes
8y
The sleepless nights should not start until AFTER your offer has been accepted. This just goes to show either A) You are still new and have not made very many offers or B) You are too emotionally attached to a property. BTW neither are bad things just that more experience is needed.
When I was looking for me First/Second home I put in 2-3 offers a week and would worry about being accepted etc. Then I came to realize it is because of the A + B above. Now that I am on my third I have my agent fire off an offer and then sit down and start looking again. I would say after you close and stabilize your first home and you begin to work on your second will you notice that offers are a number games, and if you get rejected just move on to another. But getting over the emotional part of the equation is an adjustment.
Deland, FL · Member since 2017 · 2k+ posts · 1k+ votes
8y
Sleepless nights as you describe is the fun part. The anticipation of possibly getting the deal is so exciting
Planning what we will do is so fun
The actual negative stress comes after the purchase when a permit is denied, when a quote gets doubled, when a contractor doesn’t show up
When the big box store no longer sells the tile you need 3 note if to complete a shower
And on and on and on
You may want to rethink your foray into this sort of investment.