How many offers do you make to get one deal?

Question

Joe Villeneuve · Answer

The number varies primarily on how good a job the REI does in finding the right market.  If I had to put a number on it, I would say it takes between 3 - 5 offers on average before we get a deal.  However, there are times when we can get accepted offers on multiple consecutive properties.  I think I remember making 8 offers one day...and getting 6, with the other two just missing out.

Joe Villeneuve · Answer

Whatever it takes to get an offer that makes you money...not, whatever it takes to get the property.  Not the same thing.  I don't keep track of how many "numbers" I have with street names after them...just how many "numbers" I have with $$$$ in front of them.

Account Closed · Answer

@Joe Villeneuve  yes!  Of course the numbers still need to make sense.

Joe Villeneuve · Answer

You're missing my point.  3-5, or 3 - 500, it doesn't matter...and isn't important...and if it only makes cents, it doesn't make sense...it has to make dollars.

Shaun Palmer · Answer

Thanks for the responses everyone.  I think it is obvious that this is going to depend on the market and your respective offer being submitted. Anyone can submit a lowball offer but it depends on what you think will get accepted and the market you are in,  Otherwise, why make the offer at all.

@Joe Villeneuve

Thank you for providing some actual numbers to this question.  3-5 makes sense.

Hattie Dizmond · Answer

@Shaun Palmer you actually asked how many offers on a single property.  Is that really what you mean?  We generally make 1 offer and possibly 1 counter, because we know pretty well what will get us the property.

If you're just asking how many offers in general it takes to get any deal, then @Joe Villeneuve & @Bil Casimir are correct.  It completely depends on the market and how well you understand what it will take to get a deal accepted.  Here in DFW it's possible you make a strong offer at noon only to find out an offer was accepted at 10

Bil Casimir · Answer

Depends where you are buying and how much competion,

Joe Villeneuve · Answer

I will say this, the answer to the question posed here is not important.  If it is, you're focus is on the wrong numbers.

How many offers do you make to get one deal?

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