Are You Really Negotiating???

Are You Negotiating?

Okay your eyes aren’t playing tricks on you I am really blogging about real estate! I have been busy with lots of different things including talking to some of you via email, phone, twitter, google hangouts,Facebook, et cetera (yeah that’s how you actually spell etc.) and on down the line! Yet I haven’t forgotten any of you or wholesaling real estate during any of all this, nor have I forgotten how to write at a level most people could never dream of!

In talking to so many of you it has once again been brought to my attention that for some reason there are investors out there that don’t realize that it’s pretty much mandatory to negotiate. I’m not saying that everyone should take my approach and negotiate everything business related, but you could learn a few things from some tips I use day-to-day. (Personally I negotiate prices on everything I use from pens and pencils to the paper for my printer.)

Tip # 1- Every seller you talk to is essentially after the most money they can get.

As a real estate investor when you go to “buy” a house the seller wants as much as they think they can get! Whether you are a wholesaler or whatever this is a fact. They want the most cash out of this asset that they are selling to you. It’s not rocket science! If they realize it’s run down they will say hey I’m “giving it at this price” sometimes that may be the case, but even still negotiate! It doesn’t matter if you only end up squeezing a mere thousand dollars off the asking price that’s where the difference in your bottom line comes from. If you do one house a month which isn’t big time by any means a grand more on your profit each deal is 120 thousand extra in your pocket over the next ten years!

Tip #2- Make sure you pay attention to others negotiations!

Here is something I have noticed throughout my dealings with buyers the one’s that don’t negotiate from your asking price any are usually the one’s who don’t end up buying! I don’t care if you have an in demand “perfectly priced” property and getting your asking price isn’t a problem they shouldn’t just accept your price as the gospel. If this keeps happening and you actually do close them like this regularly then your asking price is too low! It’s not greedy for me to say this the important part of entrepreneurship is having a grasp of the concept that you making money is just as important as anything else! The “freedom” of working for yourself doesn’t mean anything if you can’t afford to pay your bills.

Tip #3- The fear of speaking up will kill your business!

I know anyone who tries to do even part-time investing is actually trying to bring as many leads as they can in. The way I look at is don’t waste any of your marketing efforts! If a seller contacts you and their price is just outrageous try to do a quick negotiation anyways! You have them on the phone or are emailing them anyways why not just “Speak Up” and ask for something more favorable! Even if you hear no at least you heard something! This is actually a scientifically based thing here. For every rebuttal someone hears there will be a reaction and in more cases than you realize that reaction will be the seller caving in quickly to get some actual favorable terms out there!

5 Random Thoughts in Relation to Success

Over the years I've been involved in many successful business ventures and some pretty colossal failures. Now in the terms of failure I typically didn't lose any meaningful sum of money,but I was losing passion,drive,time,or even positive energy. There a 1,000s of tips and tricks to business and I could fill libraries full with lessons I've learned in the last 33 years,but honestly this is a blog post so I'll keep it shorter and 100% useful so with that said...Here are 5 random yet essential thoughts that can be applied to yourself or your business practices to increase your overall successful results.
1. Don't Work With People If You're Incompatible!
Now a lot of you know me through the real estate investing world and this actually applies triple there! Everyone just knows "you can accomplish more by working with others." It's true the fastest way to grow your one man show is to partner up with a seemingly like minded individual. Unfortunately the "mirroring" tactics taught in out of date sales and influencing others books can often times disguise the fact you're now partnering with an asshole! If you just wanted more time when you partnered up guess what? You just added another job item of babysitting your partner! You wanted more money? Too bad because now you doubled your workload just to split that extra cash. So choose wisely or devise a plan that maximizes your own efforts!
2.Proper Usage of a Telephone
When it comes to the telephone I see so many mistakes being made on a daily basis... For instance I don't care if you really love the new Eminem and Rihanna song and made it your ringtone stop listening to it playing 28 second sing along and answer the freaking phone! Also for the 63.9% of people who actually use the phone talk any way you want to on your own time and refer to yourself as Fatfu*k Tunechi or whatever... During business hours to people you want to make money for, with, or from talk like an educated person! Don't text wassup,sup,nahImean, or any of that crap & expect to get out of your day job ever!
3. Do Your Own Research
It doesn't matter what you're into or getting ready to take on do your own research! From stock trading to health insurance raw numbers don't lie. Before you spend, make, or even try to save a dollar somewhere do some comparative analysis of your own if you're an expert that's good enough. If you are unsure or even not highly educated on something do your own analysis and then ask a professional for their opinion! If you know the numbers you can at least ask intelligent questions...
4. Loss Protection
No one who tells you that in order to be truly successful you have to go bankrupt first is worth talking to! Don't get me wrong many great minds have spoken a similar sentiment,but we live in the information age. There is no reason for you to literally "risk it all" ever! No matter what your niche is someone has already made the mistakes for you find out what went wrong and either make it right or leave it alone! Anyone who puts every cent they can muster into an investment with no exit strategies in place to minimize your losses is a moron and deserving of their new found homeless status!
5. "The Money Is In The List"
That quote is absolutely one of the most overlooked and undercut statements ever. You can't just limit it to an email list or buyers list! Your to-do list should only contain 3 things 1. Tasks that make money 2. Something that brings happiness to you or loved ones 3. Necessity tasks. All the rest don't belong on it. Your lead list is obviously money only if you're using it! Contact lists are just as vital even if they just make you happy in life they are vital to your success in some way,but if they aren't get rid of them!