Walking away from a deal!

[Jennifer Griffin]

My husband and I made an offer on this one bedroom condo, and we offered 20% less than asking price with the listing agent. She said she doesn't think the owner will take it but she'll submit a verbal offer. The owner then came back saying that she will only take a certain dollar amount, which ended up being 5% less. We thanked her for her time, but rejected the deal she had offered. After we left about 2 hours later, the listing agent called us and said that the owner had changed her mind and would take the deal. So, I guess the whole reason I'm sharing this story is just to let you know that it's ok to walk away from a deal and stay true to your numbers. Also, the ROI will be around %28-33%.

Sent from my iPad

[Christopher Telles]

That's good discipline which is needed to be a successful investor. 

Here is a direct quote in the email I received last week from an agent I submitted an offer to for a small office building:

"Hi Christopher

I received your offer thank you. However I don't think its for the one I have listed, You are offering $275,000 for a property that is listed at $600,000. Please let me know if this is correct.

Thank you"

I don't get offended when my offers are rejected. Often time is my biggest ally.

Stay disciplined!