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Episode 244 – Hot Lead vs Actual Offer

In our business sitting on a property could mean opportunity missed on another deal because your capital is tied up in the deal you’re sitting on. So when an offer comes in, even if it’s not exactly what we wanted we’ll seriously look into it. Especially if we’re still going to make really good money. This exact thing happened to us this past week. We got an offer on a property where we stood to make a really good return however it was definitely well below what we wanted out of it. This was a buyer that found us outside of our Realtor so when we broke the news to her she immediately said that we shouldn’t have taken it because she has a really hot lead who would pay more. The problem with this is that we had an actual legit offer in our hands and not the hopes that we could get a better offer at some point. So this brought up the question of whether you hold out a little longer for a better deal or do you take what’s in front of you and move on? On today’s show we’ll be going over this and why we do what we do in these situations. What do you think? Do you take the offer or hold out?