As a new investor , one of my concerns is being able to negotiate the deal. Trying to convince the seller to sell to me. Are there any suggestions or articles to read?
Be confident; remember, you are HELPING them better their situation. Be honest and upfront with your intentions. You’ll be fine and learn more and more as you make more and more offers.
jamgill2003,
One person that I can think of at the top of my head is Roger Dawson for “The Secrets of Power Negotiations” the material has some classic strategies and tips you can you use when negotiating. One of them is to make the seller believe your an extremely busy investor and is looking to buy, but your role is to also act as if the deal is not as important because you have so many to choose from. :cool
Ask " If I pay you all cash and close quickly, what’s the least (rock bottom) you would accept" And then don’t say a word AT all. Silence kills. They say X amount. You followed by “Is that the best you can do?” or “Can you do any better?” Repeat this at least 2 or 3 times just don’t get them :gored off. Then have them sign :deal.
There’s always time for improvement, so practice practice and practice, and make offers.
Just my 2 cents
-Victor
If your trying to convince the seller to sell to you, then its not a deal. The truly motivated sellers don’t need convincing at all. Don’t try to make a non deal into a deal.
Larry