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Updated almost 8 years ago,

User Stats

674
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444
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Lee S.
  • Northern, CA
444
Votes |
674
Posts

Unreasonable expectations ?

Lee S.
  • Northern, CA
Posted

I'm guessing I'm not alone here in trying to meet my own expectations perfectly on every deal/transaction.

I bought a couple houses in 2016 and rehabbed both. Initially I was going to sell but our rental market is white hot so I decided to BRRR both.

The first one went perfectly, found a great renter (work at home tech guy) and refinanced out all my original investment with room to spare with 100k equity.

I just finished the 2nd and signed a lease today.  I'll have to wait 3.5 months to refinance.  Here is where the unreasonable expectations come in.  

I catch myself feeling like a messed up if I'm not able to refinance 100% of my cash out because the appraisal comes back low.  Worst case I might have 3-5k in the house valued at 200k, I'm in and rehabbed at 140k.  

I stop myself and realize how ridiculous this is, can't nail every deal perfectly.

Anyone else beat themselves up unnecessarily?

I told my wife that I would gladly buy 10 houses at 70% value for 5k down and we laughed, silly how we become so obsessed with a goal.

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