So I was nervous, naturally. Oooookey, I was terrified. Ok ok... I could hardly breathe. Ok ok ok... I had a panick attack! No really, I was terrified when I actually sat there and wrote up my first written offer and slowly but surely sent the fax at 12:45am on a Wednesday morning. Yeah, I had been procrastinating for a few days and down to the last minute.

Anyways, my first offer was on a single family that was converted to a 2 family. It was beautiful, but too perfect. There wasn't much I could do with it except rent it out but the numbers weren't adding up, so when the realtor told me it was a good investment I think he was exagerating. What do you guys think? Do realtors tell you what you want to hear? (Don't be shy amigos).

The asking price was $469K and the house was located in Rockaway Park, Queens. Not a bad part but not a great part either. I really loved the house but there wasn't much I could do with it unless the price was dramatically dropped so I decided to make an offer based on the amount that would work for me, plus I had no idea how much the outstanding mortgage was because the realtor wouldn't tell me. 

So I did the numbers and all, and I decided to make a ridiculously low offer. I've been in networkmarketing for 4 years so I figured "How much worse could it be?" everything is negotiable anyways right? Well...

I made my offer for $290K CASH. The realtor probably wanted to kill me, slowly and painfully. Needless to say I haven't heard from him since. It's been a little over a month and the house hasn't been sold yet, but it's too soon to tell. Maybe they found someone who was willing to pay that much or at least a little more than I was. I really hope they did sell it, and if they didn't I think I'll keep checking on it and keep making offers (probably the same one) until they respond.

Was I wrong? I didn't mean to make him mad. I thought you negotiated in real estate so I figured it was a good start to offer that low. I remember our last conversation, which didn't go over well, he was very aggressive and pushy. But I'm sure he's a nice person.

Since then I must say I've seen a lot of better properties that have lower asking prices than that one and better investments at that. I am really glad that my offer was low. Though I did learn a valuable lesson: Multiple offers.

So instead of sending just one, like I did that day or morning rather, I learned to send multiple A/B/C offers so as to give more of an option. Maybe the guy thought I was on crack and not a serious buyer, but I was serious and I was ready only if that was the price.

I've done another written offer since then, but this one went way better and it was a multiple offer. It was directly with the owner, and he is running it by his people at this time. You know what else? He didn't get upset or psychotic.

This is my story and I'm sticking to it! Tune in for more adventures in Real Estate... Coming soon!!!