How many deals do you analyze to get one that fits? 50? 72? 100?

[John-David Hails]

Good morning BP family!

Life is tough, especially when you don't have perspective. As I'm picking up golden nuggets from forums and podcasts, I've started to notice that people approach finding deals more like sales men, that is, having the "numbers game" mindset. 

How many deals do you slober knocking- go-getters run through before you find one that fits?

Thanks y'all!

[Cody L.]

Originally posted by @John-David Hails:

Good morning BP family!

Life is tough, especially when you don't have perspective. As I'm picking up golden nuggets from forums and podcasts, I've started to notice that people approach finding deals more like sales men, that is, having the "numbers game" mindset. 

How many deals do you slober knocking- go-getters run through before you find one that fits?

Thanks y'all!

I “analyze”  2-3 properties tops per deal I close. I have a lot sent via blast (10 a day). I scan those for about 5-10 seconds each so I wouldn’t count that as analyzing  

Then I get 1-2 deals a day sent by brokers I know. I’ll give those 5 min. Or what I’d consider “light analyzing”. But it doesn’t take more than a quick mini dive to give a yes/no (how much per door  how much per unit of rent. Normalize that across a few factors. Measure that against like comps)  

Any deal I glance at and seems like a fit there is a good chance I'll make a go at it at a more detailed look. And if a deal makes it to that point where I give it a "full look", there is a 50+% chance I'll send an LOI (and of those I get about 25%?).

 It’s gotten to the point where I’ll bid and even close on properties with no more than 5 min looking at some fugues. No calculator. No tour. No pouring though DD documents.  Not very smart of me to be honest but whatever. Properties are at a amorphous blob at this point  

I close on a $5m deal next Wednesday and I spent about 5 min looking at the rent roll.  Never event saw it in person. Though my ops manager drove by and said it’s a dump. I said “perfect”.