Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

49
Posts
10
Votes
Fe Kelly
  • Wholesaler
  • Goldsboro, NC
10
Votes |
49
Posts

OMG I totally think I messed Up!

Fe Kelly
  • Wholesaler
  • Goldsboro, NC
Posted

I believe I miscalculated my ARV and contracted a house for too much. I may have to get out of it. I have a clause in the deal so that's easy, but I'm soooo embarrassed and hate to tell this old lady I can't buy her house. This was my first contract. Smh. I wish I could start this one over.

Most Popular Reply

User Stats

2,770
Posts
3,665
Votes
Aaron Mazzrillo
  • Investor
  • Riverside, CA
3,665
Votes |
2,770
Posts
Aaron Mazzrillo
  • Investor
  • Riverside, CA
Replied

I've closed on every offer I've made that was accepted by a seller. Each person has to have their own set of business ethics and you lay the ground work for what yours will be. Even when I didn't know what I was doing, I still represented myself as the professional in the transaction and always kept my word. In this business, my philosophy is that my net word is more important than my net worth. Yes, I've paid too much for houses... more than once. But I swallowed that sometimes bitter pill and used it to learn how to do better next time. That is why my contracts have no escape clauses and also why I get second shot at a deal, last look at the highest offer and have purchased more than one property as much as $10K less than the next guy. 

Loading replies...