Once you are in this business long enough, I'm sure you will have a story of the proverbial big fish that got away. Unfortunately, mine has already happened.
I posted in detail recently about a deal that I initially passed on, but decided later it would be a good fit for a Sub2/Owner-Finance. Even then, I sat on my hands for a few days before taking any action. Well, my ignorance and procrastination paid off: the property was sold on the retail market recently - to someone else! I don't know for how much, nor does it matter. What matters is by not jumping in immediately and picking up the deal, I essentially "lost" over $20,000.
Let this be a lesson to every newbie and seasoned RE investor alike - next to fear and time, procrastination is your biggest obstacle. If you find a deal, make it happen. Don't sit on the sidelines doing other things. It's too easy to NOT do something than to DO IT.
This is one lesson I'll forever remind myself about. :-(
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