They are emotional.

Buy in these areas is EXACTLY how I started and it is scary and you should be nervous, if those emotions weren't involved everyone would do it.Happy to connect and walk you through my journey if that would help!

It’s been a crazy week, with a whirl-wind of emotions, but I am very excited.

As humans we tend to make emotional decisions and then rationalize them...no humans are more susceptible to this than investors.  4.  

Way to stick to your guns on your purchase price and keep emotions out of it. 

For the record it is hard to take criticism and not react emotionally, it happens all the time in my business.

People get lost in emotions, wants, and desires, and they will SEE it working in their heads.

No reason to put 20% down other than the emotional component of having 20% equity out of the gate.

Have you had the discussion with him that you are an investor and that you are not emotionally involved in the outcome of the deal, that your offers are pure business decisions AND you are willing to negotiate via counteroffers?

Note that I'm referring to commercial real estate, there is a submarket of residential assets that are valued differently (i.e. based on buyers' emotion).