NAKED IN A FREEZER + 7 MILLION SUBSCRIBERS!!

 

NAKED IN A FREEZER +
7 MILLION SUBSCRIBERS!!

If You Don’t Feel This Way When Buying A House . . .

You Did Something Wrong!

 

Did you see that . . . see how excited he was when he hit 7 Million subscribers?

If you do  DO NOT feel this way after making your offer Рyou made the wrong offer!

After making over 3000 real estate offers to sellers, one thing I have learned is if the offer you make is not super uncomfortable when making it, it is the wrong offer!

Let me explain . . .

Most investors make offers they themselves would except, never giving the seller a chance to make that decision.

Thus regretting how much they paid for the property down the road.

Here is a good way to get the best deal possible . . .

  1. Ask the seller what they expected to walk away with at the closing?
  2. Then negotiate that number.

Here is a story to explain why I learned this lesson:

I had a nice property in Wallingford Connecticut where the owner and I were negotiating.

He was asking $120K for the property.

My BEST offer was like $110K.

So instead of beating the seller over the head I asked if what he wanted to walk away with at the closing?

He told me $10K to pay his bills.

I then asked, if I gave you the $10K at the closing, would you sell me the house?

He said yes. I then asked him if he would have a problem with me keeping the mortgage in his name until my buyer cashed me out. This is called a “Subject To” deal where you get the deed in your name but the mortgage stays in the sellers name.

Now before you FREAK out and say who in the heck would do this, you should watch my video over at Intro To Flipping so you fully understand the concept after signing up. In fact I did my first 35 or so deals this way. And, I was able to accumulate Millions of dollars of real estate with this one strategy. So please don’t think it isn’t done.

Back to my story . . .

So I asked the seller if he had a mortgage statement, he did.

Then I whipped out my cell phone and called the mortgage company to see what he owed.

And we were both pleasantly surprised to find out he owed like $83K.

Now the negotiation is simple, I give him the $10K he wanted and I am in, right?

Well, I have a conscience and can’t do that. But instead gave him $20K walking money, and took over his mortgage payments. And also promised to keep his tenant in the property for at least one year.

The deal worked extremely well for everyone involved, including the tenant.

The point I am trying to make here is I always use the equity (or profit) from the property to negotiate. It works the best for me. Only because the only thing that counts at the end of the day is how much someone gets once everything gets paid at the closing, right?

I left that appointment feeling just as exciting as the dude in the above video. I had distractions just like he did with the leaf blowers. But I kept focused just like in the video until I got what I wanted.

If you liked my story and helpful hint, head on over the my Podcasts and listen to some more stories like this one.

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