Hey, friends. Have you ever wondered how to get the very best deals in real
estate? Well today, we're gonna talk about how to negotiate the very best purchase price.
Hey, friends Stephen Michael Miller here and today we're gonna be talking
all about negotiating and really getting to the details of the deal and trying to
find out if this is a deal that's even going to necessarily work for you. Before
I jump in too far, I want to show you a quick question that we got from somebody
named Tyler. Hey, Kris. When you go to purchase a home through a personal owner,
do you tell them that this is going to be your investment property? Alright,
we're back. So really the question here that he has and I'm gonna get
to some of these other points here in just a minute but the question that he
has is, do you tell the individual that you're going to go buy the home from
that you're looking at the home with, do you go and tell them that you are an
investor? And I want to answer that in a couple different ways but i'm going to
start by first of all, telling you that no matter, what you want to make sure
that you're honest in everything that you're doing. I'm telling you right now,
people can smell dishonesty, they can feel it, it shifts the energy in the
room so if you try to tell them, hey, I'm buying this home for myself but in
reality you're an investor, they can sense it, they know it and they're just
gonna push you away, they're just not gonna want to do business with you so
above all and all things please be as honest as you could ever be which just
means be honest and everything that you say, right. Just go forward with that foot
forward. With that in mind, it's best as you're going into a negotiation to
really before you go in and tell them all of your purposes and everything that
you want to do with the home, don't even worry about that. The first thing that
you want to go into and the best way to negotiate is to find out the needs of
the seller, right. So if they're selling the home, they're doing it obviously for
a reason, my biggest question is why are they selling the home? What's their
motivation? How fast do they need to sell this home? What price points are they
really looking for, are they needing? What are they owe on the home right now? And
is that relevant or not for you, right? I mean, there's all these different
questions.. Negotiating, the best negotiating happens as you find
the paying points in and you offer up solutions. If you haven't found any paying
points yet but you're going in and saying hey, I want to buy your home, I'm
an investor and I'm really excited and I'm gonna put a, you know, I'm gonna
change this step, the other thing, you know, if you're going in there with that
type of energy, it could turn off a seller even if they're motivated to sell,
maybe they're really emotionally tied to the home, maybe they want the home to be,
you know, sold to a really good family, you know, there's a lot of reasons why
you may not want to lead with that type of force or that type of energy so my
recommendation is number one, find out what their needs are first. I actually
have a friend who just got into a property and he was looking at it for
investment purposes but before he told him any information, before they even
asked him, he just asked them, hey, why are you selling the home? Tell me
about your story and he was willing to listen. Now pause for just a second. I
know I've already said this but listening is one of the most important
things that you can do. A lot of investors, because they're so
enthusiastic, they skip past this really crucial element but back to the
story, because he was willing to listen and really take some time to hear their
story, they opened up to him, they told him all about how, you know, their
parents were moving out because the home was way too big for them, they were
actually moving in with some of their children, they're moving into a different
state, all these different things there. So they were basically combining two
different households into a different state, they just needed to sell the
property they owned. I think the home outright but they just needed to get, you
know, they were selling it at a discount or willing to sell it at a
discount because they were on a time crunch so because he found all this
information now, he thought to himself, well how can I help these people and how
can I get the benefit I'm looking for as an investor but help them in the very
best ways possible? So we told them, look, I can actually, I can help you in the
moving process because they were saying, like, we're in a really big time crunch,
we're just gonna, you know, we're wanting to sell all this stuff off, we're gonna
do this that and the other, we want to get out of this home, he said, look, I'll
manage the sell of all the property, are you looking to get something out of it? I
said, no, you can actually take it and so they basically
gave him almost every all the contents that were inside the home, they
said, you can sell it if you want to, he actually said, hey, I've got a friend who
runs a charity, I can donate a lot of this to that charity and they were super
excited about that, it opened up so many different opportunities on his end and
they were super excited about being able to help other people as well and he
said and I'll take care of everything for you, just go ahead and
don't worry about it, I'll take care of this, I'll be able to get it. I will
guarantee you the monthly payment that you're looking for, would you mind if I
actually rented it from you for a while and then down the road, you know,
I purchase it from you later for X amount of dollars, giving you what you
need as well as me the time that I need to be able to do what I want to do with
it? They were totally open to it so the point is here, is before he went into
any of his strategies and what he was gonna do and I don't think he even had
to go into the details of everything, he basically, he listened to them, he found
out what their needs were, he found out what their pain was, what the pain points
were and he offered up really great solutions to that pain. He asked
questions, he was very upfront and honest with them and, you know, what he was
doing and because of that he got what could have been and because of that, he
got into a deal that otherwise he may not have ever gotten into because he may
not have ever found out what the true pain was and been able to offer up that
solution so back to the question from Tyler, should I tell them that I'm an
investor? I'd say if they ask you, tell them. If they don't ask you then really
start asking them as many questions as you can, find out as much as you can
about the property and look to link a solution that you have to the problems
that they're putting up and if you can do that, you're gonna find a
great deal almost every single time. Hey, friends. Thanks for watching. I would love
to give you more and more and more. If you haven't subscribed to channel yet,
please do so. If you've got any comments or any other questions about
negotiations, put them in the comments below, we'd love to hear from you.