A couple of weeks ago, I placed an offer for a laundry mat. The property is being sold for $299,000 and I countered at $200,000 over the phone with the broker who seemed interested. However, through more phone conversation, I decided to have my realtor write a formal offer of  $200,000 with 20% down at 8 percent fixed. The owner said no and they countered with $250,000 and the buyer pays all closing costs to include his cost which would have been an extra $30,000.

Listen to the entire video and tell me in the comment section if this would have been a good deal or not. Understand that I have been going hard at investing for almost 5yrs now and have developed a skill that I believe everyone needs in this business which is to walk away from a deal if it doesn’t feel right.

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