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Don't Justify A Deal - Hard Money Bankers
A common weak spot in having a small pipeline of leads is usually exposed when trying to by a deal out of those few leads. Very often I receive calls from people that have looked at one property and think they found the perfect deal. What I notice is that instead of taking a logical stance during the analysis phase of the deal, they tend to try to justify purchasing the property. This is a very sneaky trap that investors fall into. If a deal doesn't jump right off the page at you within a minute, then you are probably entering the dangerous territory of trying to force the numbers and convince yourself that the deal is profitable. Spotting a good deal is almost immediate. The most important part of this lesson actually occurs before you even start looking at the deal. It started with your marketing and pipeline. The larger your deal pipeline, the more deals you have to pick from. When you have a lot of deals to pick from, you won't find yourself getting stuck on marginal ones. Once you learn to cherry pick the homeruns, you won't have to justify a deal.
Ian Walsh215.839.3271
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