Know When To Hold ‘em and When to Fold ‘em
In today’s post, David “The Diamond” Oswald helps us understand when to hold ‘em and when to fold ‘em …
When is it best to proceed with a deal and when is it better just to step away from it?
I had a recent situation that inspired this article and decided to put it on paper because it involves an important topic of real estate and something that many other investors ask me about:
What is a motivated seller and how can you tell the difference between someone who is motivated and someone who is not?
A motivated seller is someone who is absolutely ready to do business and is craving for you to help them. It’s not someone who wants to have multiple conversations to get to know you, followed by you coming out to snap some pictures of the house, followed by another week or two of them having an attorney look at the documents, followed by another week of them discussing it with their spouse.
I don’t care how great the deal may appear, if your seller does not NEED your services, then you’re probably setting yourself up for a lot of wasted time and a big disappointment in the end.
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I was at a coffee shop over the weekend and ran into a guy named Dave that I met there several months ago. When we met, he had just gotten interested in real estate investing and was eager to buy his first investment property.
Don’t you hate it when a seller gives you the dreaded, “Just make me an offer.” Well, I sure do. I got tired of it pretty quickly after I realized how much time and energy was wasted with these people.
Have I got a story for you . . .
I get a ton of questions from the blog from investors that have a lead that looks something like this:
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