A deal is a deal is a deal*.....

I need some help here. Story time:

I've been investing for a few years now, and I've always held to the simple fact that: A deal is a deal is a deal.

Right? Right?!

I'm trying to understand the mentality that a deal is a deal... unless it isn't.

Not that the numbers don't work.... they do.

Not that there isn't plenty of profit in the deal.... there is.

How would you pass on it? It meets your criteria, your formula, it's in your area. You flipped the house down the street and know the area well.

Even better? Someone is calling you and offering it to you first!

WOW.

How could you pass on this one? Oops, there is one tiny thing I forgot. One seemingly small item of information that is right out there in the open.

This house is perfect, the area is perfect, the price is perfect, the profit is perfect.

"LET'S DO THIS DE..... oh wait. This was listed on the MLS? No thanks."

I'm not really kidding, this happened to me around a year ago. Its happened to me at least a half of a dozen times. As the lowly pond scum of the investing world, a 'wholesaler', I hear this quite often, actually.

In real life.... on BP.... on the BP podcast.

That's ok, I sold it approximately 15 minutes later to another guy who went on to make $38k profit on the flip. It does not hurt my feelings that buyer #1 passed on it.

I just want to know WHY. Why would you leave money on the table. There must be something I'm missing.

I'm not talking about the guy who gets a property off MLS, and the value isn't there. I'm not talking about that guy. Since that is NOT a deal.

Why does someone say upfront "Don't bring me deals off the MLS"? I guess he knows all, has seen all and in his omnipotent wisdom, there is no possible way that someone could bring him a listed deal. No possible way I have an in with that short sale agent and it had to be put on MLS to satisfy the bank. No way I hounded the agent then got a price reduction. Then handed it to someone with no competition on a silver platter. I couldn't possibly see the value in that.....

A deal is a deal is a deal*

*unless my ego gets in the way?

I guess. I know some will say "wholesalers around me suck" or "I've never had a good deal brought to me by a wholesaler" or "blah blah blah de blah". That must suck. But it dosn't mean all wholesalers are horrible. And it certainly dosn't mean that a deal is'nt a deal, just because where it came from (well, as long it was legally obtained...).

I do know this: there are a ton of full time wholesalers here on BP who take pride in offering a valuable service, so its not a fluke. You might not have met the right one yet?

A deal is a deal is a deal. Right?