Warren Buffet said "When others get greedy, I get fearful, when others are fearful I get greedy.

Be fearful when others are greedy and greedy when others are fearful." 

Too many people get greedy and burn their ability to build long term partnerships.

the #1 thing that i have learned about real estate is that pretty much everyone you deal with is going to be hilariously greedy. this isnt my experience 100% of the time, but it is like that 99% of the time.i dont know about you, but seeing a property that is reasonably valued at $120,000 listed for $205,000 is outright ridiculous to me. all that tells me is that the owner is not in a desperate situation. most deals can only be had when the seller is downright desperate from my experience.in terms of deals ive seen hat are good in florida - i have seen absolutely zero since then EXCEPT maybe one, which was in a slightly remote location. the name of the motel is the Tangerine Inn (find it on google) in Volusian county here in florida, and i believe its a 12 unit foreclosure a few years ago that was listed for $160,000. the low price piqued my interest, and upon inspection, i saw that it was actually a doable deal, but only average. there wasnt a lot of competition nearby, but the place was very old looking and outdated. it required about $90,000 to fully renovate, and maybe $40,000 to get a few rooms up and running at first.a few weeks ago, i checked the volusia county property appraiser and saw that it sold for $60,000 in 2014 which was not bad at all. i called them and they charged a ridiculously high $80 a night for a crappy room. my guess is that they average only about a 35% occupancy rate whereas i have about a 90% i maintain throughout the whole year.besides that, every pther motel deal ive found online through sites such as loopnet were hilariously bad. $600,000 for a 10 unit motel. $950,000 for a 13 unit motel in clearwater beach.i will add more to this soon

I also don't want to get greedy.

You tell your greedy friends that knowledge gets profits, money gets interest.

You are paying for future income not present and that is a mistake.The problem with our market is that realtors are stupid when it comes to actual value and sellers are extremely greedy up here.I believe you are over paying but the likely hood is some one else will pay the price since investors up here simply follow the trend.

My first job out of college was an assistant trader/doing grunt work for all the traders.

A lot of wholesalers get greedy (hey, it's what the market will bear, right?)

I was greedy and priced it a little more than market price and it gave me nothing but extra holding cost.