Don't give up

[scsj_serieux]

How many times have you newbies out there closed on a property only to find out later that what you thought was a good deal turn out really not being one. but only a disappointment.  Well you're taught to make low offers but somewhere down the line after many turn down offers you tend to lower that standard, make a higher offer that gets accepted.  You get excited that one is actually accepted but is it really what you want or what you would like to pay for it?  In this market you don't have to pay fair market value.  Just continue to make offers and you will someday hit that jackpot.  Don't give up.  I've been there and what brought about the result that I desired was not giving up but keeping with the game.  So You Keep Doing This Thing.

[DaveVelasco]

I had it. About 3 times years ago that's why I stopped before and was a bit of feeling frustrated and failure. But now I am cheering up again and has not experience one. Positively I am looking forward to avoiding as much a possible such situations again and then succeed.

[nemmert]

I'm curious what you think...

I get the impression most on here like to swing for the fences... maybe they hit 2 home runs a year.  While it's obviously a low risk approach, you'll never strand runners on base... does that maximize the return on your time?

Why not hit some doubles?  If you were to hit 3 times as many doubles as home runs, your risk would still be low (though not as low) and the sheer volume of deals would generate more cash.

What's your real goal?  To maximize the return on your investment (time)??  Or simply to make money in a low risk approach?

[andydallas]

different investors invest differently, some go for inexpensive rentals where the cash flow is super, but the appreciation, and possible more headaches with tenants (but some say they don't have that)

 I personally invest in houses worth $100-$120k range, but only have about $75-80k in them, they will cash flow $300-$500 a month each,,,which to me is a good deal since I normally have less than $10k cash in the deals and thats with very good rehab included in the financing, so basically everything is new or like new, so there should be fewer repairs (your cost of repairs are less, but your paying for it on the front end and getting to finance it)

I think we can all say we have had properties that haven't performed as well as we thought, but if your doing your due diligence, and working the numbers, a deal that goes bad only means your making less per month in cash flow than you expected

just don't 'fall in love' with a house, its a business, don't say "I've got to buy that particular house,,thinking the cash flow isn't good, but it will appreciate fast, its in a neighborhood I love, but the neighborhood is going down etc,,,,,,it will bite you every time

[justin0419]

I'll buy deals that I know will cash flow for me.  I may not be buying houses for 5k like some people do, but I'm still getting good deals on all of them.  That's the stance I've had this whole time.  I'll buy 4 or 5 solid deals while someone else is sitting around waiting for the 10k move in ready house. 
As Andy said, it's all about the numbers.  If a house is ugly, I'll fix it but the numbers have to work.