Property deal searching

[Miguel Santiago]

Hello everyone, I'm new to REI and grateful to have the opportunity to be part of the community.

I'm curious to know what happens when you find a great deal on a property and do no take action immediately. Can a different investor in my area (Houston) swoop it up? is there urgency to taking action immediately like the same day, etc. I'm looking to do research in my area for my first BRRRR or first duplex via house hack and was just wondering about that.

Sorry if it's a awful question as i'm just starting out and have many questions but those I will try to answer myself through research.

Thank you,

Miguel Santiago

[Michael Thompson]

If it's a good deal and you are slow, you will likely lose it to another investor. Move quickly. You have to understand and be comfortable with your numbers/ analysis. This will give you the confidence to place offers fast. Also, make sure you have spoken with a lender who knows what they are doing when it comes to multi-family properties. Plan it all out with them beforehand as to what your financing strategy will be. Hope this helps, @Miguel Santiago!