Big bad scary offers

7 Replies

I've been eating up paperbacks, audios and podcasts. I've also starting to connect more and more with RE minded individuals.  Last week, I put in in my first offer for a property I would not live in/hack as I've done in the past.  I am working with my agent to submit my second that I'm hoping is accepted.  As many have probably experienced, you'll conduct your "research" and find favorable possibilities and still be hesitant to pull the trigger. I'll show my buddy to let him look.  Essentially he confirms  what I've already seen with the numbers.  It's becoming less and less scary.. I wish I could explain the feeling better.

Can anyone else relate? Ha!!

-Solomon

@Joe Villeneuve just the general insecurities that come with the nature of RE investing.  Is this really a good idea? Am I reading everything correct? What if this property sucks? Lol! Just some thoughts 

@Solomon Morris Just make sure your numbers are correct and push forward. It is normal to be scared in the first few deals but the more you close most comfortable you will get. I won't forget my first purchase. I had done my numbers and was still worried but told my self it is what it is. I have done my homework to the best of my knowledge so let's see what happens. Also especially for the first purchase always have a backup exit. For example, I purchased a duplex and made sure I can cover the mortgage and all expenses without any tenants from my job income. Also I had the option to move in and pay the rent if things got really bad. Also regarding offers no body said you have to buy the property after you have submitted So do not put too much emotions when making an offer . As one of my close friends says if they accept your offer not it is time to ask for more discounts now there are only two people on the table. Will you feel better if you get additional few %
discount. You can always walk away from an offer is something is not right. Just make sure you ask for option period and put all the proper language in the offer. Any real estate agent will be able to help with that.

@Solomon Morris , I understand where you are coming from. The hardest deal to make is that FIRST one. Once you get the train moving though.....it all gets easier and easier. It took me many years to pull the trigger on the first one and now it takes me a few minutes to analyze a deal.

Happy Huntin' ,

JR

HOOAH

@Julian R. Thank you boss! I've got two walk-throughs this upcoming week.  Looking forward to landing some DEALS bro! DEALS.  Me and you need to connect man, you seem to speak my language Lol!

HOOAH!

-Solo