Not Being Able to Jump on an Opportunity

[norwoodman]

Recently I purchased a property I thought was a good buying opportunity after looking at many other properties in the area. So I went and took it up.

However, more recently I've continuously been looking at other properties in the same area which I've thought could have been just as good or better. Then I have thoughts about maybe how I could've gone better than what I chose.

Have other investors here experienced this? How have people dealt with finding other properties after purchasing one and not being able to pick up another?

 

[devank]

There is always one better

 

[pinkboy]

Chat room antics aside, I remember touching on this one a few nights ago.

You can only go with what is available at the time! You can't take an opportunity in the past, and you can't chrystal ball the future.

The next best thing you could do, is present your new found opportunity to a family member who trusts your insticts etc (however tread carefully with this one), or you could even share it with your mates

pinkboy

 

[BayView]

Recently I purchased a property I thought was a good buying opportunity after looking at many other properties in the area. So I went and took it up.

However, more recently I've continuously been looking at other properties in the same area which I've thought could have been just as good or better. Then I have thoughts about maybe how I could've gone better than what I chose.

Have other investors here experienced this? How have people dealt with finding other properties after purchasing one and not being able to pick up another?

That's akin to how women shop....they buy something, then spend the next 3 weeks looking around to see if it is cheaper elsewhere, and then kick themselves if it is.

Just look until you buy, then stop looking in that area unless you are planning to buy another one in the near future in the same area....

 

[Bats]

That always seems to happen when you buy a new car - you to see a better the next week.

Funny how the mind works.

a better deal that is

 

[marg4000]

Just human nature.

If you had NOT bought that property, at this stage you would be kicking yourself as nothing else would have measured up.
Marg

 

[MRO]

I am in the same situation now. I bought a property 2 years ago with the plan to rezone and subdivide. Rezoning has only just started with another 3 months until we know if we have been successful.

I always wonder about the opportunities I have foregone due to the long time frame of the current property. I just hope the payoff is worthwhile.

Just how it is.

 

[Spades]

Just human nature.

If you had NOT bought that property, at this stage you would be kicking yourself as nothing else would have measured up.
Marg

I agree,i'm still kicking myself after pulling out at the last minute.
I potentially lost an easy $50k instant equity
Anyhow onto the next find

 

[MTR]

Recently I purchased a property I thought was a good buying opportunity after looking at many other properties in the area. So I went and took it up.

However, more recently I've continuously been looking at other properties in the same area which I've thought could have been just as good or better. Then I have thoughts about maybe how I could've gone better than what I chose.

Have other investors here experienced this? How have people dealt with finding other properties after purchasing one and not being able to pick up another?

Its called "buyers remorse" I do this with every property purchase and I analyse the deal in my head over and over, but then I move on, have a very good shrink.... joking

 

[BayView]

I don't know why such angst about buying one IP that folk have. ( actually; I do understand; but get over it people - you can easily do it).

If you have the income whereby you can shovel $100 per week into a savings account, you can afford a basic IP in a decent area.

As long as your rent return is approximately the same as the interest bill, the rest is easy.

The worst thing that can happen is the tenant trashes the place and you need to use your LL insurance to refit it (doesn't happen that often despite what ACA show), and/or it sits vacant for a few weeks.

If the property costs you somewhere less than $100 per week to hold each week, you still are way in front of the TD.

And then you get the tax return...

 

[Singo]

Then I have thoughts about maybe how I could've gone better than what I chose.

Have other investors here experienced this? How have people dealt with finding other properties after purchasing one and not being able to pick up another?

We are settling our 3rd property next week and I have already seen a few 'really better' ones. Lol. This happened after the 1st one as well. Probably will happen almost all the time

It is true that you can come across des of a life time every month

 

[see_change]

Most of the buys we've made have been good . A couple average . A handful very good . They've all made money bar one .

Cliff

 

[Elliotte]

Look up "Maximizers vs Satisfiers" - learn to be more of a satisfier and you'll be happier

http://www.happiness-project.com/happiness_project/2006/06/are_you_a_satis/

 

[jaspn]

If the property costs you somewhere less than $100 per week to hold each week, you still are way in front of the TD.​

TD?

 

[D.T.]

If the property costs you somewhere less than $100 per week to hold each week, you still are way in front of the TD.​

TD?

Term deposit

 

[Colin Rice]

The worst thing that can happen is the tenant trashes the place and you need to use your LL insurance to refit it (doesn't happen that often despite what ACA show), and/or it sits vacant for a few weeks.

This is verified by the comparatively low premiums for LL insurance.

If it was a common occurrence the premiums would be a lot higher.