Any deals you ever glad fell through and you didnt purchase it?

[Jason Chen]

Topic.

I remember a deal my dad tried to make where a 4 plex was for sale in central florida for $110,000, and it needed maybe $20,000 in repairs tops. The catch was that there was no hookup for the washer/drier units. Each unit was a 2/1.

Long story short, a much better deal showed up, and someone else offered $115,000 so he had to walk away from that deal. Looking back, we were glad that it happened. The deal from beginning to end felt a little like straw-grabbing for a new deal.

[Jason Chen]

Originally posted by @Mike Carr:

I had a flip fall through. The numbers were thin but I fell in love with the house and area. My gut was never fully in the project either. When it fell through I realized how I could have been burned by a few variables going south. I learned quickly that gut instincts are important and to never fall in love with the house/area...rather, fall in love with the numbers. 

 any experienced investor who seems "good" at this gig is someone who will tell you that EXCITEMENT is the #1 most important factor when it comes to finally judging how high quality the buy is.

you may be excited because the numbers might make you excited (always a great reason obviously), or it may be because of the potential of the area (also numbers), whatever it is.

if youre not excited, theres always a reason why for that too. sometimes we are tempted to get into a marginal deal because there hasnt been any action to be  had lately. this is a bad idea just about every time. its always better to wait...

...but dont go on a vacation just yet because a great deal typically arises as soon as you go on vacation.