I weed through around 30 properties that are sent to me through the MLS every day through my company 60 Day Realty (SHAMELESS PLUG - follow @60dayrealty on twitter). I also go through roughly 50 properties that are sent to me through Craigslist. Add in the auction houses I go to review weekly and the FSBOs I drive by and I'm looking at roughly 100 properties a week.
In that 100 properties I may find 5-10 that interest me and only 1 that I'll make an offer on. I'm a fairly conservative investor (though in this market I should turn that around) and I'm picky about what I buy. It will either have strong cash flow in the bad parts of town or I am able to get it cheap enough to make cash on a flip in the better parts.
As I look back on my first few months in the flip/rental business, I spent a lot of timing being nervous about whether or not the buy was worth it. I had done my numbers, my instincts were good... I was just afraid to pull the trigger.
And then I would lose them.
Why?
B/c someone else was also looking at the property and wasn't afraid to stare success in the face and act.
If you are sure about the property, the finances and your goals you should never hesitate to pull the trigger on buying a property. In the beginning I lost too many homes that I now would LOVE to have back.
What are your thoughts? How can people overcome this hesitation?
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