The latter might not understand the formula for making sensible offers, and will be out there, recklessly making offers to sellers in an effort to put these properties under contract, and feel like they’ve gotten a step ahead in their quest to be successful.
This is unfortunate. You see, these guys are your competition. Even though you’re doing your research and making intelligent offers to the sellers that you’re certain can be sold off to another investor, these nitwits are coming behind you and offering MORE just to land the deal. This just might keep the seller happy. That is, until they learn that the investor who made their overpriced offer isn’t able to perform on the contract. That sweet deal will leave a bitter taste in their mouth pretty quickly then.