How To Negotiate Your Deals
Our guest Maria was brought up with the idea of the typical American dream. She was told she needed to get into a trade or go to college. After growing up, she decided to go in the direction of being a nurse.
Her parents were in real estate, and she knew the power of passive income. She was fearful of doing it wrong, and jumped in head first. She started with a mentor and on her first flip she did very well.
She then went onto quit her full time job and became a full time investor. After she dove in head first, she quickly realized that with flipping, you can get burnt out really quick if you don’t set up your systems right. She then began creating a rental portfolio and started to excel at negotiations.
Maria studies and looks at the rentals she acquires, and gets very creative with them. She evaluates each one, and looks at the best way to optimize her rentals and that specific income.
During the negotiations most investors talk too much. The key is to ask your question and listen for a response. You are listening to understand the seller. Mirror back what they say. You can easier ruin a deal by talking too much. Most investors don’t understand the power of silence when they talk to the sellers. The money is in the silence, then pause to wait on the person to respond. Most sellers are very uncomfortable with silence, so after you ask a question or drop your offer let it resonate with them.
The seller needs the time to digest the information to let it resonate with them. There are going to have a story to why they want to sell, and the key is to listen to what their story is and find their reason why they are selling. With that you have the best chance to get the best price on the home.
Maria is a negotiations expert who has been featured publicly on ABC and Good Morning America. On her website Real Estate Profit System, she helps people how to find and negotiate with motivated sellers. She helps people eliminate fear in the negotiations process.
What You’ll Learn In The Podcast:
- Get creative with your rentals
- Always optimize your cash flow
- Most investors talk too much
- You have to ask a question and use silence
- Count to 10 after you ask your question and wait for their answer