Posted by Tim Fierro (Tacoma, WA) on January 31, 2002 at 18:43:06:
Almost 6 months to the day. Hardly any marketing as I knew I was going to move to a new city. Took about 10 offers before I got one accepted and closed. 1 other offer was accepted, I didn’t like the inspection, and we didn’t close. 2 of them were negotiated back and forth but never to where I wanted the dollar figure to be and the correct terms. A few were offers verbally and never went no where, and the rest were contracts drawn and were not accepted.
I believe you have to do the deal if it makes sense to you. You are not in the rush to buy the property that you have to buy one right now. The deal will happen when it happens.
I actually purchased it for my personal residence as I want to set up here. I have the office in the home all set up and new cell phone for the area, while keeping the others, and have 3 phones in the house. My first mailing went out last week to owners of duplexes as that is what I am looking for. My next mailing will go to SFR’s where the owners have lived there for at least 4 years and the purchase price was under $50k. Now is when my marketing begins. Market for what you are after and network with others in your area so that deals you don’t want can be passed on; and deals that meet your criteria will be passed to you.
Just set your goals of what you want and work towards it, but dont’ worry if a deal has not happened yet on your terms. Just keep reviewing your offers to see why it was turned down and you will see a pattern eventually. But you will have to market in some fashion to let people know you want to buy their property.