Rental Property Investor / Construction Manager · Raleigh, NC · Member since 2015 · 201 posts · 103 votes
Fellow BPer's,
I am curious how many offers are typically made on one property before you actually receive a signed deal. This number varies with the more and more people that I speak with and I am curious what most of the BP members are experiencing. Thanks
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
10y
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.
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
10y
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.
Investor · Dallas, TX · Member since 2014 · 2k+ posts · 1k+ votes
10y
@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
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
10y
Originally posted by @Account Closed:
Whatever it takes! :)
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.
Rental Property Investor / Construction Manager · Raleigh, NC · Member since 2015 · 201 posts · 103 votes
10y
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.
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.
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.