Don’t Buy a “Thin” Deal

In the words of Captain Taggart (Galaxy Quest, only the best sci-fi movie ever made!), “Never Give Up, Never Surrender.” Here’s how this applies to today’s tip: When the market is tight and good deals are hard to find, resist the temptation to “settle” and buy a thin deal simply because you can’t find a good one. This will require everything to go perfectly for you to make any money at all and you significantly increase the odds you will lose money on the project.

So what do you do? Hold fast and buy it right – always. It’s better to have your money on the sidelines than in a losing deal. A tight market with high demand might be a time to buy cash-flowing properties instead of flips.

But also – just hang on. The market is always changing.

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