Posted by ray@lcorn on January 28, 2010 at 11:44:22:
In Reply to: Emotional Highs and Lows posted by WH on January 26, 2010 at 23:20:55:
WH,
Early in my career I calculated that I closed about one out every ten deals I seriously worked on (as opposed to took a passing look at).
If I worked one deal a week, say 50 a year, I would close five. But I had to work all 50 because I never knew which five would close. And in practice the numbers are never predictable. I might go through 20 deals and close nothing, then close the next three in a row.
And the older I get the lazier, and pickier, I get. I haven't actually counted lately, but my guess is that I'm closing maybe one out of 20. Some of that is due to dealing with a chaotic market and over-leveraged properties, but my criteria has also gotten stricter.
Yes, it's frustrating. But in truth I've probably learned more from the deals I've lost than the ones I've done.
Keep at it. Don't give in to the temptation to do a deal just to do a deal. Don't compromise on your criteria just because you want to own something. Better to be a frustrated buyer than the next motivated seller.
ray
- Re: Emotional Highs and Lows WH 14:46:10 02/01/10 (1)
- Re: Emotional Highs and Lows john 19:48:38 02/19/10 (0)