Multiple offers at once?

[Luca Mastrangelo]

Is it possible to put in multiple offers on different properties at the same time?

[Luc Boiron]

@Luca Mastrangelo You can put lowball offers in to several properties at the same time. If the all get accepted, you have such a good price that you can either buy them, or wholesale them to other investors. Likely though, none will be accepted, and you'll see at what price people come back to see if it's worth going forwards with.

If you're putting in low offers, you can't just wait for each person to get back to you to see if they will be reasonable and move on if they aren't. Getting good deals is a volume business. One strategy is to get many offers out, and then spend more time analyzing the ones that come back to you, if they come back at a reasonable price. Don't waste you time analyzing the minutia of every property, or you'll waste a lot of time. Even worse, you might feel like you've already spent a lot of time on the property, so you should buy it even if the price goes above what you would normally pay.

On top of this, have some sort of condition in your offer so if many are accepted, or it is accepted and then you find out it is worse than you thought, you can back out and get your deposit back. I don't like to do separate conditions (ie: inspection, financing, etc). I put in one condition, a general due diligence condition. It ends up looking much cleaner as an offer, and still gives me an out if I end up not liking the property enough.