Facets of deals “falling through”!

[Kyle Curtin]

Hi guys! I wanted to make a super quick post about a topic that has affected most of us investors in one way or another.

I previously tried to purchase 2 multifamily properties in Lowell that ended up falling through before I bought Leominster. I walked away from the first deal for a few different reasons, but the second deal fell through because of the results from the inspection report, and the fixes/updates were waaaay too much for me to handle financially at the time. I learned a crazy amount of knowledge from that one inspection and experience.

One thing that I did learn from that was to not take it personally when deals fall through. Obviously this is the absolute last case scenario, and you want to try every solution in the book to make the deal work, but sometimes it is just not meant to be.

There are multiple “safeties” (contingencies) in real estate contracts to protect buyers, and they are there for a reason. Due diligence is incredibly important to have a much deeper understanding of what you are actually buying. The inspection contingency alone can save you from buying a property that is falling apart and potentially biting off more than you can chew right at inception. There are several others that are there to protect you as well.

Once in a while, these “safeties” can prevent you from buying a property, and some of them can be worked through with a mutual solution that works for both parties, and sometimes they can’t. I am a firm believer in everything happening for a reason, try not to take it personally when things that can kill a deal come up once in a while. There is definitely something better out there for you!

Happy Sunday guys! 😁

•

•

•

•

•

#househack #massachusettsrealestate #realestateinvestor

#Gardner #leominster #worcester #massrealestate #multifamily #realestateinvesting #Candorealty #realestateagent #realtor #investor #assets #cashflow #Lowell #Boston #Duplex #Triplex #Quadplex #smallcommercialmultifamily #commercialmultifamily