5d • General discussion
Learn From My Failures: Don’t chase deals. Ever.
Here’s a lesson I learned again today in real estate investing, and I wanted to share it with you guys — because anything I learn in the field is worth passing along. And honestly, if you guys learn lessons in the field too, PLEASE share them here. It helps all of us.
Lesson: Don’t chase deals. Ever.
It’s so easy to get emotionally attached to a deal you’re underwriting. You start to like it, you picture it working, you’ve already put in time and effort… and then the seller comes back with a curveball or someone starts outbidding you.
When that happens: do not budge from your underwriting. Don’t “just stretch a little.” Don’t start giving away terms you’re not comfortable with. That’s how good deals turn into bad deals.
This is fresh for me because I just went through it on an RV park. I made an offer, we negotiated everything, and I sent over the purchase agreement. Then at the last minute they came back and said there was another party who wanted to match my offer… but they were willing to do $30,000 non-refundable.
And I’ll be honest — because I’d already put so much effort into it, I got roped in.
So I started inching.
“Ok fine, I’ll raise the price.”
“Ok fine, I’ll do all cash instead of seller financing.”
“Ok fine… yada yada yada.”
It started turning into one of those situations where you’re negotiating against yourself.
The guy I was “competing” with even found my info online and called me trying to guilt trip me — saying I was screwing him over and screwing up his kid’s life because his kid wanted the park. And I’m like… dude, this is business. We both have the right to bid.
Then it got crazier: he claimed he’d do $100,000 non-refundable on a smaller RV park AND he'd limit his due diligence period to 14 days… and that was my moment of “Nope. I’m out.”
So I backed out.
And here’s the wild part: the sellers came back to me afterward because that guy didn’t follow through.
So yeah — the lesson I learned (again) through this process is:
✅ Stick to your guns.
✅ Stick to your underwriting.
✅ Don’t let someone else’s crazy offer change what the property is actually worth or what risks you’re willing to take on.
I’m really glad I didn’t learn this one the hard way (by overpaying or taking on terms that would’ve wrecked the deal).
But it’s a good reminder: chasing deals ruins deals.
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Learn From My Failures: Don’t chase deals. Ever.
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