Deals, Deals, Deals to be made.
So why can't you see a deal when its right in front of you? Cause you've got an Investors State of Mind. You don't have to be an investor to feel the effects.
The location is perfect and the lot is just what you've been looking for yet the house needs work. A lot of work. The previous owner had a vision and was in the process of doing extensive renovations when he must have had a brain freeze. He suffered from emptied pockets.
Realizing it's a bank owned property you know it's priced agressively to sell and has a lot of potential. After all this could be your potential dream home. You decide to make an offer.
You then slip into Investor mode. You calculate whats needed and your return. Ooops! Your return? This is your future HOME, right? How do you measure your return on an emotional and personal gain? But you do and decide to make a really low offer. After all the amount needed to finish the renovations plus the purchase price still leaves a strong equity base but not the thousands you imaginitively need, for your return on your investment.
Its not logical to try calculate a return on your investment unless your planning on flipping the property. Not when its your own home that you purchasing and renovating to your style.
But thats my opinion, what are your feelings?
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