Investors routinely leave money on the table when buying and negotiating real estate deals. Take away the paperwork, the process and the marketing. Let's talk about the sticks and the bricks.
As a professional home and building inspector and a self proclaimed connoisseur of defective stuff, I coach investors every day how to instantly recognize negotiation opportunities that no one else sees, make more money, limit loss and manage risk on every deal they do AND do it consistently!
Anyone can recognize that a house needs a new toilet or new cabinets but almost always miss negotiation opportunities like USTs, grey flex, aluminum wiring, FPE or poly! If you don't know what these things are, that's ok but just imagine how much you may be leaving on the table. You don't need to be an electrician or a plumber or anything else, simply just recognize and use these negotiation opportunities to make thousands more on every real estate deal you do!
Short sales is one of the primary tools used by real estate investors today. Bank mitigators don't generally roll over and accept your offer because you're so nice so you must be able to justify your low offer. There are multiple ways of doing this but one simple and easy way is to shed light on defective building products, safety hazards and old construction practices. Many products are also like Kryptonite to insurance companies. The same applies to BPOs (Brokers Price Opinions). These guys are bankers and brokers, not builders. You are the entrepreneur, think like one.
Deals can be made, broken or guided in the direction you want them to. Yep broken. Sometimes you just want out of a deal. Putting sunshine on defective products that pose a safety or liability hazard to you as an investor or landlord may get you (and your money) out of a deal so you can move on to the next. Now that's a sweet little weasel clause you never thought of isn't it!
Discovering how to instantly recognize and negotiate with products such as...
Knob & tube wiring can net you or cost you thousands, tens of thousands or even more! Everyone has seen the movie "The Money Pit" where the buyers bought a house with rose colored glasses and it was literally falling down around them! Don't get burned because you weren't informed. Attending class after class and reading book after book will obviously take a lot of time, money and effort. Hiring a professional inspector is one means of discovery. There is also a product out there made just for real estate entrepreneurs. It takes the mystery away and provides a consistency in your investing career.
Professional investors systemize and maximize every deal they do. Their businesses are fashioned after a model of a business that works. That's a huge reason why they are so successful. Most new investors don't have a model of a successful business rather a model of the work itself. I have been a professional inspector for 10+ years and had the best year in company history in one of the "worst" real estate markets of our lifetime in 2008. In other words, I practice this stuff everyday and it works. You really owe it to yourself and your company to learn simple techniques like negotiating with defective building products.
Author Resource:-
BUYAWARE enables any investor to enter a home and instantly recognize negotiation opportunities that nobody else sees. www.buyaware.net
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