Unpopular opinion: I turned down a 17-months-behind homeowner yesterday.
San Antonio TX · Member since 2026 · 21 posts · 8 votes
Unpopular opinion: I turned down a 17-months-behind homeowner yesterday.
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Diana KhanPro Member
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 403 posts · 162 votesQuote from @Micah Bolch:
I got a call yesterday - lady 17 months behind on mortgage. Everyone on my Facebook would have locked it up, posted "Investor Special - $5k non-refundable - Assignable Contract - 30 day close" and prayed.
I ran it. The opportunity was too tight for MY buy box, so I politely declined and referred her to a loss mitigation attorney.
I saw another one today - Wholesaler has a house on FB for $115k - Assignable. Same house is on Zillow with a Realtor for $124,999. I call the Realtor: "Is it 115 or 124?" - "Oh I forgot to change it."
This is why I'm not a wholesaler. When I take a contract to MY title company, to MY attorney, it's SOLD that same day. Not listed. Not shopped. Demo starts Day 1. Cash is in the bank, can close in 24 hours.
Curious for the solo flippers here who actually close:
Are you still chasing every cheap house anywhere in your market, or do you have a very specific, niche buy box? How many deals have you turned DOWN this month because it didn't fit?
I'm finding I don't need 50 buyers on a list. I need 3 big fish who understand creative, problem-solving deals.
What does your buy box look like right now?
@Micah Bolch, I agree with you on this. Not every distressed property is a deal, especially when the numbers do not fit your buy box. I think knowing when to walk away can be just as important as knowing when to move forward. With a homeowner that far behind, I also think it makes sense to have the right person look at their options instead of trying to force an investor deal that may not be the best fit for them.
I’ve had clients bring me properties where the situation looked good on paper, but once we looked at the title, the contracts, or everything surrounding the property, it just did not make sense to move forward. Sometimes the best outcome is being comfortable saying no before you spend more time and money on the deal.
I like this topic because having a clear buy box and knowing when to pass comes up often in my real estate work with investors. I enjoyed your perspective, @Micah Bolch. Happy to stay connected and see what you are seeing in the San Antonio market.
6 Replies
- 3dDiana KhanPro MemberAttorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 403 posts · 162 votes
Quote from @Micah Bolch:
I got a call yesterday - lady 17 months behind on mortgage. Everyone on my Facebook would have locked it up, posted "Investor Special - $5k non-refundable - Assignable Contract - 30 day close" and prayed.
I ran it. The opportunity was too tight for MY buy box, so I politely declined and referred her to a loss mitigation attorney.
I saw another one today - Wholesaler has a house on FB for $115k - Assignable. Same house is on Zillow with a Realtor for $124,999. I call the Realtor: "Is it 115 or 124?" - "Oh I forgot to change it."
This is why I'm not a wholesaler. When I take a contract to MY title company, to MY attorney, it's SOLD that same day. Not listed. Not shopped. Demo starts Day 1. Cash is in the bank, can close in 24 hours.
Curious for the solo flippers here who actually close:
Are you still chasing every cheap house anywhere in your market, or do you have a very specific, niche buy box? How many deals have you turned DOWN this month because it didn't fit?
I'm finding I don't need 50 buyers on a list. I need 3 big fish who understand creative, problem-solving deals.
What does your buy box look like right now?
@Micah Bolch, I agree with you on this. Not every distressed property is a deal, especially when the numbers do not fit your buy box. I think knowing when to walk away can be just as important as knowing when to move forward. With a homeowner that far behind, I also think it makes sense to have the right person look at their options instead of trying to force an investor deal that may not be the best fit for them.
I’ve had clients bring me properties where the situation looked good on paper, but once we looked at the title, the contracts, or everything surrounding the property, it just did not make sense to move forward. Sometimes the best outcome is being comfortable saying no before you spend more time and money on the deal.
I like this topic because having a clear buy box and knowing when to pass comes up often in my real estate work with investors. I enjoyed your perspective, @Micah Bolch. Happy to stay connected and see what you are seeing in the San Antonio market.
- San Antonio TX · Member since 2026 · 21 posts · 8 votes3d
Thank you Diana - coming from an attorney that means a lot. You're right, the best outcome is often saying no before you spend time and money on it. That's why I referred her to loss mitigation vs trying to force my buy box.
Enjoyed your take on title/contracts killing deals that look good on paper - I see that a lot with the assignable stuff on Facebook.
Let's definitely stay connected. I'll share what I'm seeing down here in SA.
- 1dAlyssa MarquezBusiness MemberReal Estate Agent · San Antonio TX / Fort Lauderdale, FL · Member since 2023 · 120 posts · 29 votes
Yep, I think the more deals you see, the less likely it seems like you need to try to chase down every cheap house out there. I'd rather have a very specific buy box and not chase them if they are tight than to try to force the numbers just for the sake of getting under contract. Ditto on the buyer list- I'd rather have a handful of relationships with people who actually close than a dozen of the marginal ones. What's the first one you'd pass on today-too much rehab, not enough margin, location, or something else?
- San Antonio TX · Member since 2026 · 21 posts · 8 votes1d
Alyssa, that's a great question! Thanks for taking time to respond. If I did find an active investor say on the east side of San Antonio or the Southside where areas are being gentrified I'd maybe farm one of those 100 year old houses only if I could buy it at $10,000. I have yet to find one. Not to say there aren't very saavy investors doing that I just haven't found one yet. The one i'm working now I estimated between $85,000 to $105,000 rehab. It's a 4/2 2300' worth 420k fixed up. I offered him between 150k to 160k and it's on the northwest. I'd say the first thing I look at is the location and stay away from the war zones still. I'll just ask what's the zip code & asking price and know right away if their asking too much. Location is big for me right now. Hopefully I can learn new markets but if I feel unsafe driving the area then I'll stay far away.
- 1dDivin KanyamaBusiness MemberAccountant · Seattle, WA · Member since 2025 · 311 posts · 100 votes
@Micah Bolch That’s the difference between chasing contracts and running a disciplined business. A deal isn’t a deal just because it’s cheap or assignable—it still has to solve the seller’s problem, survive due diligence, and fit a clear exit strategy.
My buy box would be intentionally narrow: markets I understand, neighborhoods with dependable resale or rental demand, a conservative margin after repairs and carrying costs, a clean path to closing, and a downside I can absorb if the original plan changes. If the numbers only work under perfect assumptions—or the seller needs help the deal cannot honestly provide—it is a pass.
Turning down deals is part of protecting capital and reputation, not a sign of inactivity. And I agree on the buyer list: three proven buyers who understand creative structures, communicate clearly, and actually close are more valuable than fifty names who only respond when a deal looks effortless. The real edge is not access to every opportunity—it’s knowing exactly which ones deserve a yes.
- San Antonio TX · Member since 2026 · 21 posts · 8 votes1d
Glad you took time out of your day to respond to the post. Thanks that helps me double check if what i'm doing is the right thing to do. I'm definitely finding, that out of these handful of investors, if it's not in their buy box they each have a small group of investors they work with. We can partner together and they can tap into their core investors. Don't get me wrong i'll try and cultivate new relationships but I take the long approach on that. I'll bring them a deal or two that I think they may be able to handle. I have an appointment with a seller this coming Monday. This is a nice home in a nice area that's been vacant for 11 years because of sibling drama. I decided i'd cultivate this relationship with a wholesaler who's years ahead of me but I like the way he does business. I'm hoping to continue to get mentored by the best so maybe one day I can be the best.
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