by Sterling White
So, when is it actually the right time to step back from a deal? Well, the sad truth is that your inability to walk away from deals — even when you know they will not work in your favor — will end up costing you in the long run. However, it is also true that a lot of people step back from deals when they should not, usually due to fear.
What I want you to get out of this article is to understand the things that you should work towards not doing.
4 Things NOT to Do in the Quest for Great Real Estate Deals
Do Not Have a Small Pipeline
If you discover that you are completely incapable of stepping away from any deals, you might have to think carefully about the size of your pipeline. You tend to hold onto nothing simply due to the fact that you have absolutely nothing to go to. You are itching to find mere pieces of crumbs. But what are you doing? You have to learn how to push out marketing to keep the pipeline full! Only those people who have absolutely no other possible options are scared of walking away from a deal even if it is going to do them more harm than good.
Do Not Discard Contacts
If you get an off-market property lead and maybe the person isn’t quite at that point in their life where they are ready to sell at your low-ball offer, do not simply discard all their info or put it to the side and forget about it altogether! After all, the true power lies within the follow up. Remember, while they might not be ready to sell it at this present moment, they might be in six months’ time. Do not just passively wait for opportunities to float in front of you — actively seek them!
In the past, I have had sellers tell me they would never accept my offer in a million years during our first encounter. A couple weeks go by, I follow-up, and the seller accepts my low offer due to a change in their level of motivation. Using a CRM helps with keeping these contacts well organized. Keep good notes so you can refer back to them when following up with leads.
Do Not Manipulate the Math
From time to time, it might be best to remain conservative when running numbers for your deals. Do not try and adjust your numbers around simply to force a deal to work. This usually just leads to long term distress and trouble. For example, even if you really love a property, overpaying for it can seriously hurt you in addition to your cash flow in the long run. Take note of “do not have a small pipeline,” as this step can actually also be affected by not having a large enough pipeline.
Do Not Give Up Before It Starts
If you really want to head on the road of success, it is highly essential that you learn to say “yes.” After all, how many entrepreneurs have you seen take that massive leap of faith and opt for optimism rather than a more pessimistic take? They know that the word “yes” comes with so many more options, possibilities, and adventures than the word “no” — once “no” is said, it is done, but when “yes” is said, the path goes on.
Therefore, the next time you are presented with a chance, do not give up on it before you even really give yourself a chance to succeed. It is so essential that you remain positive and at least have a look before you give a firm shake of your head. Remember, successful people live by risks and well-taken opportunities. So be ready to spread your wings and fly!
What actions would you say you should avoid like the plague when trying to fill up your deal pipelines?
Leave your tips below!
Interested in Finding out More? Reach out below
Address: 1415 Main St. #823, Grandview, MO 64030
This information is intended only for the use of the intended recipient(s) and it may be privileged and confidential. Please note that any views or opinions presented in this post are solely those of the author and do not necessarily represent those of the company. This is reposted information and is not original thought of Ireland Investments or anyone associated with the business.
Popular areas we service;
Kansas city Missouri, Overland Park Kansas, Kansas city Kansas, Olathe Kansas, Independence Missouri, Shawnee Kansas, Blue Springs Missouri, Lenexa Kansas, Leavenworth, Kansas, Leawood Kansas, Liberty Missouri, Raytown Missouri, Gladstone Missouri, Grandview Missouri, Belton Missouri, Prairie Village Kansas, Gardner Kansas, Raymore Missouri, Grain Valley Missouri, Ottawa, Kansas, Lansing Kansas, Excelsior Springs Missouri, Merriam Kansas, Harrisonville Missouri, Cameron Missouri, Mission Kansas, Kearney Missouri, Smithville Missouri, Pleasant Hill Missouri, Oak Grove Missouri, Bonner Springs Kansas, Roeland Park Kansas, Parkville Missouri, De Soto Kansas, Richmond Missouri, Greenwood Missouri, Paola Kansas, Basehor Kansas, Tonganoxie Kansas, Odessa Missouri, Peculiar Missouri, Platte City, Missouri, Higginsville Missouri, Lexington Missouri, Edwardsville Kansas, North Kansas City Missouri, Osawatomie Kansas, Louisburg Kansas, Fairway Kansas, Mission Hills Kansas, Sugar Creek Missouri, Riverside Missouri, Buckner Missouri, Pleasant Valley Missouri, Lawson Missouri, Plattsburg Missouri, Lake Lotawana Missouri, Weatherby Lake Missouri, Wellsville Kansas, Edgerton Kansas, Westwood Kansas, Garden City Missouri, Gower Missouri, Claycomo Missouri, Lone Jack Missouri, Drexel Missouri, Lake Tapawingo Missouri, Glenaire Missouri, Dearborn Missouri, Avondale Missouri, Osborn Missouri, Sibley Missouri, Oaks Missouri, Unity Village Missouri, Levasy Missouri, Randolf Missouri, River Bend Missouri, Jackson County Missouri, Johnson County Kansas, Clay County Missouri, Wyandotte County Kansas, Cass County Missouri, Platte County Missouri, Leavenworth County Kansas, Miami county Kansas, Lafayette County Missouri, Ray County Missouri, Clinton County Missouri, Bates County Missouri, Linn County Kansas, Caldwell County Missouri, Crossroads Real estate, 18th and vine Real estate, Hospital Hill real estate, library district real estate, longfellow real estate, dutch hill real estate, quality hill real estate, river market real estate union hill real estate, Greater downtown KCMO real estate, East Side KCMO real estate, Midtown KCMO real estate, Westport Real estate, Hyde Park real estate, Northeast KCMO real estate, Northland real estate, Plaza Real estate, South Kansas City Real estate, Fairway Kansas real estate, Kansas city Kansas real estate, lake quivira Kansas real estate, Lenexa Kansas real estate, Mission hills Kansas real estate, overland park Kansas real estate, prairie village Kansas real estate, Shawnee Kansas real estate, weatherby lake Missouri real estate, westwood Kansas real estate