All Forum Posts by: Gil Flores

You can put in a back up offer if the first buyer backs out. If you see something that looks good, put an offer in on it. You have conditions (financing and inspection), so if something doesn't look right, you can change your mind prior to removing the conditions.

Thank you Theresa! Super helpful info as I learn the ins and outs.

1 Vote

Quote from @Sam Horton:

@Gil Flores What state is the property in? I would call the Broker and see if due diligence has been completed, appraisal completed, etc. If it hasn't, you can always submit a backup offer through that broker.

It's Pennsylvania. It's gone, but I found more details on the gas and water, and the deal was as good as I thought. Part of it is that I really want to get my first deal.

0 Votes

Quote from @Denver McClure:

I would assume the deal is gone, but it doesn't hurt to reach out to seller. Speed is key in this industry, so I recommend practicing your analysis on properties to ensure you understand the process and KPI that dictate your decision. Feel free to reach out if you need help with that.

Yep. It's gone. I reached out. I've been using Coach Carson's rent calculator for practice. When I was running the numbers on this duplex, I was unsure how to estimate gas and water because there is only one meter. That made me extremely nervous about the gas because of the winters in Pennsylvania. So I paused on it, and family came to town for easter, then it was too late...I spoke to a fellow investor yesterday. It wasn't as good of a deal as I thought, but I'm itching to lock down my first deal.

Thank you, Denver. I'll ping your email. I'd love to continue the discussion.

1 Vote

This week, as a new investor, I learned a hard but valuable lesson: If you're in a competitive market, you have to be aggressive and prepared. My broker sent me a great opportunity on Thursday, so I took the weekend to consider it. I checked the MLS on Monday, and… BAM! A sale is pending on the property.

To the veteran RE investors out there, if you missed an opportunity, what’s your course of action? Do you still reach out to the seller’s broker? Any advice would be greatly appreciated.

0 Votes

All Forum Posts by: Gil Flores

Gil Flores has started 1 posts and replied 4 times.

Post: I was indecisive on a property. Now sale is pending. Anything I can do?

Post: I was indecisive on a property. Now sale is pending. Anything I can do?

Post: I was indecisive on a property. Now sale is pending. Anything I can do?

Post: I was indecisive on a property. Now sale is pending. Anything I can do?