Updated about 11 years ago on . Most recent reply
You win some, you lose some
Sometimes you don't always get a property, but it's best to stick to your numbers. Here is an example.
Saw the property in mid-June. Seller was trying to sell it himself by listing on Craigslist and was asking $20,000. The property needs some work. It had been sitting for a couple of months by that point.
Mid-June
- Me: I'll give you $16,000 for it.
- Didn't hear back from him. Followed up.
End of June
- Him: I'll sell it to you for $20,000.
- Me: We're a little ways apart on price.
End of July
- Me: I'm following up as I see you still have the property available. I'm offering $16,000.
- Him: I'll sell it to you for $18,000.
- Me: We're a little ways apart on price.
- Him: I just put it on the MLS and I expect it to be gone soon.
End of August
- Me: I'm following up as I see you still have the property available. I'm offering $16,000.
- Him: Because of your incredible persistence, I'll sell it to you for $16,500 plus closing costs.
- Me: I will pay $16,000.
- Him: I'll guess I'll just turn it into a rental.
So, I'll continue to watch the property and if it really is still available at the end of September, I may try again.