Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Breaking up is hard to do
I walked away from what I thought was a good deal the other day. I wound up walking away because the area of town was a little (read: a lot) rougher than I initially thought. My realtor described the area only as 'working class'. It's out of state so I had a friend, who lives nearby, drive through the neighborhood. This property was 'the nicest one in a neighborhood I wouldn't feel safe walking alone in after dark' in, he said.
After accounting for all the standard expenses, it would cash flow well each month but I just couldn't pull the trigger after hearing that. I guess I could've added a little more cushion to my numbers for expenses, but it just didn't sit right so I walked.
All of my initial instincts were telling me that the deal was too good to be true but it's hard to not let your emotions get the best of you sometimes in RE investing.
I think I need my BP buddies to tell me 'she wasn't worth it', 'I can do better' and that 'it's better to have loved and lost than to not have loved at all' becasue I'm kinda feeling like I just broke up with a girlfriend.
Guys...?