It’s All About the Numbers
One of the things I love about real estate investing is that it is all about the numbers. As long as I stick to my numbers, I make money. My wife and I have been investing in real estate for many years. We walk through several properties every week, and still, as we walk through a property my wife gets caught up in how nice this or that is, and I am behind her doing numbers and more often than not end up saying, “Well it’s not that nice, NEXT.”
Finding the right deal is a matter of numbers. It can take a lot of offers to get a deal. Many new investors will put an offer in and then wait and hope it gets accepted. But by doing that, it is keeping them from putting in more offers. Putting in offers is a numbers game. I have found that by developing a mindset of always focusing on the next offer, I am able to make the numbers work for me. All the information from each offer I submit is saved on my computer. This allows me to put an offer in, forget about it, and focus on the next offer. I continue to focus on the next offer until I get a counter offer from one of the previous offers I put in. I then go to the information I have saved on my computer and can refocus on getting that deal.
By always focusing on the next offer, I can keep frustration from sneaking in. When you put an offer in and then wait and hope for it to get accepted, it can easily lead to disappointment if someone else gets the deal. If you do this too many times, it can lead to frustration. But by understanding that this is a numbers game and that the more offers you put in, the sooner you will get a deal, you can stay focused and motivated.