Real Estate Investing Advice & Strategies From Experts You Can Trust
An opportunistic buyer had signed a Contract to buy a commercial property subject to a due diligence.
The due diligence was an exhaustive one in the hope that he would uncover something that he could hang his hat on and use this as a lever to force the Seller to reduce the price of the property. And he was successful as the Seller reduced the price by $100,000. [Read more...]
The three important elements of negotiation are information, time and power. To be successful in negotiation of your property investment you must have these on your side.
It is interesting that in property negotiations, most people feel that the other party has more of each of these than they actually have.
For example, if you possess superior knowledge relating to a property transaction, then this information gives you a competitive edge throughout the negotiations. [Read more...]
I want a better deal – take it or leave it!
Have you ever had someone say this to you?
I often hear people at my workshops say to me, “Everything was going well, we’d been talking for weeks and then suddenly when I thought we were about to put the deal together, they wanted to negotiate a better deal. I didn’t know what to do!”
So what should they do? [Read more...]
In your business there are only two fundamental ways to increase profits. Either increase your sales or decrease your costs, or do both.
Most business people seem understand the need to increase sales, however very few seem to understand the impact they can have on their bottom line, if they took just a little time to develop their negotiating skills.
Skills that could ensure that they buy all goods and services at the lowest price possible, and cut their costs without cutting back on quality or quantity. [Read more...]
When buying real estate, knowing what you want means at what price and on which terms you wish to buy the property. But more importantly, what is your “bottom line”?
For the purpose of this article I’ve assumed that you have carried out all your research on past growth, future growth potential, vacancy rates, how much money you’re able to borrow, etc., and you now know what you’re after. Write out your goals before you start and make sure you stick to them.
This preparation is essential and without it you undermine your own efforts. However, not only do you need to have done this preparation, you also need to know, before negotiating on a property, more information on the property itself, the sellers’ agent (if there is one) and the sellers themselves. [Read more...]
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