Keep being undercut in SS or Foreclosures

[Sam Leon]

I look for investment properties to hold and rent.

Last year I closed on 3 properties. This year NONE.

Many contracts written yet none accepted. Seems homes in South Florida are heating up and they quickly get under contract.

Last weekend, I decided to re-evaluate all the deals that fell through and tried to learn from my mistake. First thing was I went back and look at each properties and see if it got sold and for what price. What I saw was a bit disturbing.

I saw the actual sold price on a significant number of those are just a small amount over my offer. So much so I start to wonder if I everyone was playing games except me?

For example, a house I offered $180,000 sold for $181,000. Another house I offered $141,000 sold for $142,120. Another house I offered $202,000 sold for $203,500.

All my offers were cash offers with 10% down, AS IS with right to inspect 30 days closing. Very clean no other contingencies.

Why are these other offers just marginally higher? Sounds like buyers are getting tipped on the highest offer so they move in with their offer once they know what price it would take?

Seems if I don't have an inside track I might as well invest elsewhere?