Missed it by *that* much!

[2HoundsHomeStaging]

Well, today I missed out on a property. I checked out a property (turn of the century rowhouse) which was a good price (mortgage and taxes would be covered with some extra $ for misellaneous by the rental income). I was waiting for my calls to be returned by my Mortgage Guru telling me I could make an offer when...one of the neighbouring houses went up for $20,000 less! It needed a bit of tlc, but all cosmetic.

As soon as I saw it I called my agent (I`ve told him not to look for me as I`m not `officially` looking yet...I`d like to finish Don`s books at the very least!) to see the place with the intent to make an offer...it is sold conditionally as of last night.

I guess I shouldn`t get dissappointed...there will be others, but I was really excited for the 5 minutes it took to find out it was sold conditionally. I`ll check back at the end of day on the 26th, but it is likely gone.

Rats

 

[BMironov]

QUOTE (2HoundsHomeStaging @ Oct 22 2007, 07:47 PM) Well, today I missed out on a property. I checked out a property (turn of the century rowhouse) which was a good price (mortgage and taxes would be covered with some extra $ for misellaneous by the rental income). I was waiting for my calls to be returned by my Mortgage Guru telling me I could make an offer when...one of the neighbouring houses went up for $20,000 less! It needed a bit of tlc, but all cosmetic.
As soon as I saw it I called my agent (I`ve told him not to look for me as I`m not `officially` looking yet...I`d like to finish Don`s books at the very least!) to see the place with the intent to make an offer...it is sold conditionally as of last night.

I guess I shouldn`t get dissappointed...there will be others, but I was really excited for the 5 minutes it took to find out it was sold conditionally. I`ll check back at the end of day on the 26th, but it is likely gone.

Rats

Hi Dane,

Here is an action plan:

[list type=decimal][*] finish the book (I remeber you were going to purchase both of them

)[*] do not worry too much there is always another property on the market (it is like a bus. If You missed one, another one will come)[/list type=decimal]
It is all about experience. And most important: we invest for LONG time. Just for fun do little excercise: collect as much information about recent sales as possible and calculate mean price (not average). After that apply 5% appreciation compounded for 5 years and see amount of equity that you will get putting down 25% in today`s prices

This will really open your eyes on those $20k.

Cheers,
Boris

 

[DonCampbell]

That`s a great story. The reasons is... you took action! If you didn`t take action you would never have known that you even missed it.

Believe me, this won`t be your last `just miss` It happens all the time.

Congrats on moving forward

Watch what happens next time!