Home Offer Frustration

[Account Closed]

Hi Everyone,

I wanted to start a discussion on putting in offers on homes. The market is really moving right now in the investor world. I know that I have to put in tons of offers to get one accepted. I wanted to see if anyone had an innovative strategy to counter this pandemic? A Way to combat the crazy Offer game. 

My only answer so far has been to start an education platform for investors so that everyone can know at least how to make a good offer and stick to the numbers and not over pay. Because a lot of investors are overpaying which is throwing everything else off for everyone else. I am in South Jersey, but I know its the same in North Jersey, Central Jersey, Philadelphia, 

So lets hear your thoughts!

William Lees Jr

[Russell Brazil]

If I want to buy a property I typically need to only make 1 offer to acquire one not tons of offers like you mention. It doesn't sound like everyone else is overpaying but rather you are simply under bidding the properties. The market is what the market is. Place a value on your own time. I think you will find if you are spending 100 or 200 hours, or whatever amount of time it takes to put in the tons of offers you are, that if you would just write 1 strong offer you'd save yourself hundreds of hours of work and thus money. I value my time at $100 an hour, so I'm not going to waste that time putting in a ton of low ball bids that have zero chance of being accepted so I can bump a yield on a property by a quarter of a percent