You Can't Always Get What You Want

There are a number of analogies and expressions one could use to describe the feeling of not getting what you want for an extended period of time.  The dry spell, the slump, the doldrums, the cold streak, etc.  There are also a number of less socially acceptable terms that define the process of ceasing this period of time (the baseball derived “slump-buster” likely being the least socially acceptable of the bunch).   Whatever words are chosen, however, it is clearly not a desirable psychological place to be.

The life of an auction focused flipper is certainly not immune to this type of frustration.  Every day, 75-100 properties are considered for bidding, and if lucky, 1 or 2 is bought.  Sometimes zero.  Rarely, if ever, more than two.  Going 3 or 4 days without purchasing can be excruciating, considering the amount of work put into each property.  Moreover, having the wrong properties postpone/cancel at the last minute is even more frustrating, as it takes away the opportunity for massive profits just as quickly as it was found.

Right now… were on 9 days of non-purchase, and my slump-buster hormones are bursting at the seams.  This, however, is why you don’t get emotional in the property flipping business.  Rarely is a slump buster a good decision in the long run, and what could result in juvenile ridicule in some situations can result in catastrophic financial results in others.

While most of my posts will be to help you, the reader, learn more about flipping properties and buying at auction, this one is mainly for me to maintain self-awareness, as well as my sanity.

The good news is there are no auctions tomorrow, due to Veteran’s Day, so I can take the long weekend to get focused once again!