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TIL a guy at my local REIA meeting said he only makes cash offers on houses he's walked through twice, and it hit home
Last Tuesday at the monthly meetup in Raleigh, this older investor named Dale got up during the open mic part. He said he's closed 60 something deals over 12 years and he never sends a cash offer until he's been inside the house two separate times, different days, different weather.
His reasoning was simple. The first walk he's looking at the house. The second walk he's looking at the problems. Foundation cracks that only show in dry weather, a basement that smells different after it rains, neighbors who are home on a Saturday vs a workday.
I've been sending offers off one walk plus photos for about 3 years now. Never really thought about what I might be missing. I always figured speed was the whole point of being a cash buyer.
Now I'm wondering how many of my walk-aways or renegotiations came from stuff a second trip would have caught. Curious if other folks here do one walk or two, and whether the extra day has ever saved you money or killed a deal you actually should have taken.
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