Blind bidding, newbie in Central Florida

[Jason Wagner]

Hello BP community,

I’m new to the site and to the real estate investing world. I’ve been trying to get my first deal going but it seems like I get out bid before anyone even sees the property. Is this normal for a bidding war to break out before anyone goes in with their contractors to get a bid? I had one pop up yesterday and set up for an open viewing Monday, all of a sudden tonight they message me “I need your best offer within the hour” wtf I don’t feel safe putting an offer without a reno bid or am I going about this all wrong!? Just roll the dice and figure out if I’ll make money or lose money later... half vent, half serious question here.

[Tyler Gibson]

@Jason Wagner some people that can afford it are making their offers sight unseen and then get in with a contractor during the inspection period and determine if the amount of work required is going to fall within an acceptable range. They then decided if they will go forward with the transaction or not. You can always employ this strategy because on a Florida As-is contract, you can cancel for any reason during the inspection period and have your earnest money returned.