These are emotional retail deals and typically are a liability rather than an asset.

I was emotionally attracted to the place for a few reasons.

Brian Hoyt Absolutely no regrets – wasted emotion.

This is a business, and while having morals and doing the right thing are important, numbers are the key, not emotions.

, and of course don't become so mentally invested in it that you are reluctant to change it or even completely scrap it and rework it as you learn more.The other tip I have is to be smart with your money in life, and make sure your brain always makes the decisions and not your emotions.

Hey BP community,My wife and I are looking for our first home and trying to do a minor flip to get our feet wet.After passing up some good deals, we've found a house that makes sense financially and we like emotionally.

When dealing with HOA's, I've learned to scan everything and e-mail it to the rep, asking her to re-send it to the entire board before the meeting so they have a chance to consider why I am challenging them without my emotion getting in the way like it could at the hearing.

Try to avoid buying with emotion (impossible, but try) and be willing to walk away if needed.

For your first deal, there is no way to avoid the emotion roller coaster ride you will be on, and your agent and loan officer know it better than you, and will use this to close you--regardless if whether this is a good investment or not.

The 4 buyer types: The emotional and practical buyers, who made decisions fast, and could be persuaded and closed relatively quickly if the product made sense, and the analytical and amiable, who take FOREVER to make up their mind, even if it was best for them.Lesson here, know who you are talking to, and use that info to be successful!