Am I the only one going nuts?

Rehabbing, Fix and Flip, Rental Properties
1

There’s too many deals out there! I’m going nuts, when I just find one house and start doing my research/due diligence on it, and I come across a better deal, or a differnent but equally good deal, and so on and so forth!

I feel like I’m getting pulled in too many directions right now! Anyone else experiencing this?!!

2

Got a couple sitting in line for rehab right now because of the same thing. Also trying to put together a deal on a package of 6 SFHs right now. Oh and a banker doing no money down deals. Darn the luck.

3

I would suggest defining the criteria you are looking for and then buying deals as they meet that criteria. Being paralyzed by inaction due to the number of deals is not a formula for success. I would also be cautious about expanding too quickly, as that has caused many businesses to fail.

Good Luck,

Mike

4

No, I’m certainly not paralyzed by inaction, rather the contrary, I’m super busy and there’s just not enough hours in the day to take advantage of every strong opportunity that comes my way.
Maybe I should focus on a way to funnel the deals I can’t do to other investors…hmm…

5

Hi, what banker do you work with that still does 0 down deals?
Thanks,
wendy

6

Local banks.

7

Jake,

Where are you located that you have so much work? Are you flipping? wholesaling? rehabbing?

I’m looking to do the buy and hold…

8

how long/how many deals did it take for the local bank to come around.
I met with the most local bank I could get (one street up, 2 blocks down and this is the one location, open for 2 years) and they want 25% down and will not finance rehab costs.

I realize I am a novice investor and would be establishing a relationship with them - just wondering what people’s timelines are when they get to the point where the local bank is like “here’s the money and then some” to do your deals.

9

We had a two year track record of investing and one deal with this bank. On our second deal, we got full purchase amount plus all the rehab money we needed. We provided every bit of information about us and our business to the bank up front. Our banker didn’t have to ask for anything because it was all right there in front of him. Plus you have to find a banker who isn’t locked into a specific mentality of needing so many % down no matter the purchase price.