In so many deals, I come across other investors who look at deals through a scope instead of a panoramic camera. Many times, a property has to fit into such a specific metric, area, or criteria that these investors do themselves a disservice and miss out on sound deals.
More often than not, these investors are not properly acquainted with a particular market, and often find themselves on the sidelines as the property flys off the MLS after they have passed on it, often times regretting it.
Don’t be a slave to the metrics. They are a guide. If a deal makes sense but it is not in the wheelhouse or comfort zone that you are used to, think outside the box and utilize common sense. A good deal is a good deal and I have seen too many guys pigeonhole themselves and not scale as a result of eliminating a property based on a boundary that they have imposed on themselves that eliminates a deal without the proper merits being considered.
If you bake a cake, it almost never comes out as good when the recipe is followed to the letter. Sometimes you need a dab of this or a pinch of that instead of 1 2/3 cups of XYZ. This business is about identifying, cultivating, and cashing in on value that others overlook. That is impossible to do if you are thinking like everyone else.