Your lowball offer might seem offensive to most sellers. But, when phrased and timed correctly, you’ll be able to lock down real estate deals at the perfect price, sometimes without the seller even knowing it. Unfortunately, most real estate investors make a MASSIVE mistake when negotiating. Too often, they ask for everything they want when making an offer, not knowing there are ways to get an even better price later on. Want to see how this sneaky style of negotiation works? Stick around!
We’re back with our real estate mentees as they get one step closer to buying their next property and building their dream real estate portfolio. First, we chat with Philip, who lost out on the perfect deal but now knows a better way to get properties under contract. Then, Danny joins us as he stays on the hunt for a multimillion-dollar multifamily but is struggling to find reasonably priced properties in his area. Finally, Wendy is on as she debates which of her rentals have the best medium-term tenant potential. She also dives into a new market that could be perfect for her high-cash flow house hacking strategy.
We also get deep into the mindset of these intermediate investors. We’ll talk about why it’s so hard to let go of a great deal, how to systematize your learning so you’re constantly leveling up your skills (even during a busy day), breaking through analysis paralysis, and why your limiting beliefs are often untrue. So if you want to tee up your next real estate deal like Philip, Danny, and Wendy, tune into this episode!
00:00 Intro
02:47 Quick Tip
06:05 Losing Out on the Perfect Deal
17:27 Streamlining Due Diligence
22:12 Embracing the Chaos
28:25 Making Aggressive Offers
33:57 Finding Medium-Term Rental Markets
40:01 Fighting Analysis Paralysis
44:29 Designing the Perfect House Hack
53:22 Mentees to Millionaires!
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Join BiggerPockets for FREE Some BiggerPockets
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Find an Investor-Friendly Agent in Your
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Try the BiggerPockets Rental Property Calculator on Your Next
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Listen to Part 1 and 2 of Our Mentee Episodes:
Part 1:
Part 2:
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Hear Our Interview with Medium-Term Rental Expert, Jesse
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Connect with Our Mentees:
Danny:
Philip:
Wendy:
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Connect with Rob (Robuilt) on YouTube, Instagram, TikTok, and Twitter:
YouTube:
Instagram:
TikTok:
Twitter:
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Connect with David and Rob on BiggerPockets:
David:
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Follow David and BiggerPockets on Instagram:
@davidgreene24 or
@biggerpockets or
Episode #726
Show notes at:
Recommended Reading >> bit.ly/32kRpzw
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