BiggerPockets

I'm just a little disappointed this morning because I found out another of my low 50% rule offers was rejected. This is my 6th rejection in the last 3 weeks. I was hoping that this one would get accepted because I really liked the location. I am beginning to get frustrated. I guess if it was easy everyone would be doing it.

The houses that I have looked at that I feel I could get in at the 50% rule are either rougher neighborhoods or in terrible condition (yet rented).

Do you guys think I should go to a boot camp seminar or something asap?!?

I agree with Josh, no bootcamp is needed. You are getting the best hands on experience possible right now being in the trenches.

My advice is to keep those offers flying, and the folks here at BP will be here for advice when you need it.

Do not let your emotions get the best of you. Frustration is part of this game, and you must work hard to keep your head on straight in order to minimize mistakes.

There are many investors who submit 30+ offers before they find what they want. It just takes time my friend......

Good Luck!

Kirk, I make so many offers it gets to be tedious sometimes...................

but all I need is that 1 to make money....

if your making cash offers................try to make offers to people where they will give up the deed to their property and you promise to make the mortgage payment.

Trust me, not that easy but I don't give up

I can't wait until you re-post saying someone accepted your offer.......can you imagine the excitement your going to experience.

in the words of Joe Dirt, "Keep on keepin on"

Thanks for all of the words of encouragement and advice guys.

Sounds like you're shopping on the mls. In that case be prepared to write many many offers. To up your acceptances try finding the owners before they find an agent.

I really love these positive threads! :D

Keep us updated on your progress Kirk!

Hi Kirk,

Just wanted to let you know that you are not alone. I run by the 65% rule (minus repairs) and have only gotten one deal out of 50 offers. It's true that you have to find the very motivated sellers to make these types of deals. My problem is that I am having trouble finding these types of sellers. All the calls and emails I get are those who are looking to get out of their current house to buy a bigger one, or bought/re-fied at the peak that they can't possible go any lower.

All we can do right now is keep going, put those offers out there, and hopefully finally get those deals.

On another note, I am finding that a lot of sellers looking at foreclosure are being advised by their lawers and tax advisors that foreclosure is the only and best route to go; that they should not even bother with a short sale.

Best of luck to you, Kirk and keep us posted.

I probably average 30 to 40 offers to semi-qualified sellers to get one of them to sell to me. The only difference between you and me is that I make that many offers in a week.

My advice . . . make more offers. Not 5 more, not 20 more, not even 50 more. Make 100 offers to semi-qualified sellers over the next month and I'll bet you will have a handful of deals to work on.

I am a new real estate investor, and I realize that nothing worth having is easy, including the attainment of knowledge and learning from our experience, but successful individuals never give up! Instead they find creative solutions to solve traditional and historical problems. Being a firm believer of taking my own advice, I have decided to get a "Stated Income" loan to finance my investment properties. Can anyone recommend a financial institution in California (Bay Area) to assist me?

My goal is to purchase 5 homes in 90 days. The good news is that I already have renters for these properties, actually, I have more renters awaiting homes than I have houses to place them in. I definitely need help, advice, anything, but mostly $$$$$$$.

Kirk,

I agree with what Ryan is telling you all the way. Successful investors make a lot of offers to THE RIGHT PEOPLE. Those people are motivated sellers. Those who make offers shotgun style to regular retail sellers are only setting themselves up for disappointment. Remember, if they are not motivated for whatever reason, they have no reason to give you good terms, a good cash price or both. And they won't. If they are not motivated, next. This is a numbers game.

Remember every no is just one closer to the yes you are going to receive, IF you stick with it. If it were easy, everyone would do it. If you make 100 offers consistently to the right people, you will succeed eventually.

Be creative and learn to love the chase and negotiation. That is where you make the money. No other business rewards those who can think outside the box or creatively to meet the seller's NEEDS than real estate. Eventually, it is more like a game to you. Once you release all attachment to the outcome of any one deal, you will start to come into your own. It takes time sure. But stick with it. It gets easier and talking to sellers is the best education there is.

Good luck

Mike C