Aug 29 • General discussion
🚨 Walked Away From My First Deal 🚨
I thought I had my first wholesale deal locked in…
Found a property with an ARV of $230k. Seller had it listed at $165k, dropped to $145k. I put in an offer at $120k and thought I had a steal.
But here’s the truth 👇
After running the numbers and looking deeper, I realized the house needed:
- A new roof 🏚️
- A new porch/deck 🔨
- Tons of other repairs… almost $60k+ worth of work 😬
On top of that, since a realtor was involved and I’m in Georgia, I would have to do a double close – which eats into profits.
At first, I wanted to force it to work because it felt like a “deal”… but the numbers don’t lie. 📉
This deal would’ve been a disaster. Instead of losing money, I made the BEST decision:
👉 I walked away.
Not every lead = a deal. The WIN here is knowing when to say NO.
And honestly… I’m celebrating 🎉 because every “bad deal” you walk away from is one step closer to a great deal.
Onward & upward. 🚀
#WholesalingRealEstate #FlipWithRick #FirstDeal #LessonsLearned
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🚨 Walked Away From My First Deal 🚨
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