How To Negotiate A Real Estate Deal | Real Estate Investing
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- เผยแพร่เมื่อ 16 ก.พ. 2020
- This video shares all of the tips and tricks to negotiating the best deal on real estate. Chandler covers everything you need to know to negotiate a killer deal with or without a realtor.
Negotiations in real estate can be intimidating, with or without a realtor. Chandler shares what he has learned from his six plus years of experience that has helped him acquire over 100 Doors of rental real estate. This video was created to help you know everything you need to negotiate like a pro when buying real estate. Chandler shares his negotiation successes and failures and what you can do to use these experiences to make sure you negotiate the best deal possible!
There are so many great tips that work together to work the perfect deal, so be sure to watch this video in its entirety if you want to glean as you can to negotiate the perfect deal!
If you aren't using a realtor it's absolutely important to make a connection with the seller, make them feel justified in selling the property, and build a relationship so that they are willing to accept offers from you that they wouldn't have accepted otherwise.
Wether you are using a realtor or not, be sure to drop the fact that you have a relationship with a bank, that you have been pre-approved (sen pre-approval letter) , and that that they can count on you and know with confidence that the deal will go through. Share with them your successes and failures. Talk about the the area and connections you have made or lessons you have learned. Why you build this connection get them on your team as someone who realizes what it's like to be in this business. BE CAREFUL that you don't cross the line in making it too personal so that you don't jeopardize the relationship.
If you are using a realtor, train them to communicate the same story you would to the seller directly. Have your realtor really build you up as a good buyer to their agent or to the actual seller. It's also not a bad idea to put in a personal letter alongside your offer letter.
FOR NEGOTIATING Go to 9:57
Great negotiating is not taking advantage of others, it's when you can clearly tell them that it's a win-win situation because what you can bring to the table, and that puts them ahead as well as yourself.
-Your first offer needs to be below the price that you need to be able to pick up the property. The seller needs to feel that you are giving up something, and that will allow them to counter somewhere in the middle.
-Don't just accept the first offer as they will feel they gave too much. Always counteroffer, even if it's just a few thousand.
-Make an offer before seeing the property yourself. That way you can use the fixes as leverage to bring down the price after inspection.
#realestateinvesting #realestate #negotiations #negotiatingarealestatedeal
To learn more about a job opportunity doing door to door sales with Chandler, go to:
www.elitesummersales.com/
To learn more about Chandler David Smith and real estate investing go to:
www.chandlerdavidsmith.com/
Check out some other videos if you want to learn more about investing in real estate, building a huge passive income or preparing for your own future home.
Want to see all of my real estate deals?
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• Real Estate Portfolio
What is a Good Deal?
• What is a Good Deal? |...
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Your video flowed to an ad perfectly:
"...now time to get to the fun part, the negotiation..."
Masterclass ad: "everything in life is a negotiation..."
wow!!! I own close to 50 doors and I learnd a lot of useful info on this video. thank you.
I love the idea of going in slow and humble. It seems like that would prevent them from shutting you down early and eventually hearing you out to where you even can build rapport! Love it!
I agree!
Thanks!
Such great, nuanced negotiation feedback. You have a new subscriber!
Awesome videos
Amazing content
Thank you for all your vids !
Godspeed!
I can see you hitting over a million subscribers by next year. Such great advice!
Negotiation is the best way to get under-market value deals, and use it to BRRRR! It's a lot easier to save $20k on the purchase than it is to earn $20k in strategic renovations - but doing both makes the big money :)
I appreciate your content. I love how you take your time and explain your information. I’m a new and inspiring real estate investor and is yet to get my first deal. Keep up the awesome job!!’
This was a great video. Thanks!
Awesome video!! Good techniques.
Great video Chandler!
Thank you!
Amazing advice. I would add that you can negotiate other aspects rather than price. For example, if you are fine with buying the building as-is because you inspected it and it is in good condition. Then you can make a regular contingent offer, and later you can "give up" something and offer as-is.
Yes! Win-win situations! Solving problems! I actually have had sellers accept my offer over higher offers because I’d offer to help them with not paying for repairs or not moving old furniture, etc. it’s not trying take advantage of them or just trying to hound them to lower the price like so many people mistakenly think but it’s figuring how to help them with their situation while also acquiring a good deal for yourself. Win-win! Great video! Thx for sharing!
Love it!!!!
Hi Dav,
Thanks for your video, it’s really worth it for me. We did a great deal in Melbourne with $35k off of selling price and $50k median price as well
Thanks so much for video
Long video but I appreciate the knowledge! Thanks.
Thanks, glad you liked it!
Great advice, coming in a timely manner.
Awesome! Glad to hear it! Thanks for watching
Good info, now I'll know what to look for when someone tries to squeeze a deal out my properties.
Haha nice
Chandler what books would you recommend reading to learn more about buying rentals
Chandler going to take over the world. Good stuff.
Thank you!
I seriously love your videos
Same! I love Chandler! He inspired me to make TH-cam videos about real estate as well!
Thank you!
Mean a lot!
Hey there!
So if I make a deal with a seller and after inspection I find some flaws and want the seller to reduce the price, should I tell the seller before the inspection that I may ask to reduce the price if I find flaws ?
Thanks
i got your spreadsheet. thanks, i like it alot.
Thank you!
I'd like a video detailing your process of buying a property without a realtor. The paperwork and process involved.
"Smash the like button", I feel I've heard that somewhere before...
Graham! It makes me smash the like button though!
Pewdiepie.
Every TH-camd ever! Haha
its everywhere in youtube bruh
I wouldn't even mention the cash on cash return .. they dont care what you are making. they care about what they can walk with. If anything prop up the advantages that you bring instead of going to numbers lol. good content tho as usual !
Totally get your point but by telling them how you run your numbers it makes them feel less emotional about their property. Obviously you get into this after creating the relationship of possible
Great content! Are you thinking of releasing a course about real estate investing and when? You are already giving A LOT of information for free, but a well structured course would be quite helpful. :)
I love your videos! Really good information, presented really well. One question: Do you have OCD? My wife does and she organizes our books chromatically, just like you. Sometimes I'll switch two just to mess with her.
Haha that’s funny. Maybe a little bit 😜
Someone before asked for credit of 62,5k on property we were selling , they took 2,5k as the other items and estimates they provided were out of the blue
Nice
Never heard of seller paying you at closing. Will have to look into that.
👊🏻
I got financed and negotiated the purchase price of my 1st home from $420000 to $380000 now my financial wants us to go down to $330000 in order for me to be able to get my financing approved do you have any ideas how I can get these people to come off another $50000 on this home in this market where real estate is slowing Thanks to the fed's interest hikes
Chandler can you do a video about the cash refinance and take that $$$ to buy another property. Is that a good idea or not.?
Since I dont have a lot of cash on hand to buy another property.
That's a great idea BUT just make sure the payments you are going to make on the cash-out refi (or HELOC) plus the new expenses from the next property, the investment property will still cash flow!
My experience with a heloc. I had a 4 unit I lived in one of the units. A local credit union let me take a heloc on it 95% of the value since I lived in it. No closing fees just a 5.5 apr. My mouth hit the ground. With a refi you will probably pay 5 to 8 k in fees on a 150 k loan. Think a heloc is best. Plus if I pay it off quick I can use it again.
Edward Pope omg that’s amazing! Like you, my jaw just dropped! I’m so happy to hear that success story :)
@@JamesHollowayYT thanks for the advice .
Van Ly no problem :)
Need some of your thoughts on LLC ?
What do you mean?
@@ChandlerDavidSmith I have watch all of your videos and enjoy your straight talk of not trying to sell me anything. Would like to know if you have your rentals in an LLC? And if so your states process, difficulty to do or any other recommendations
Rapport?
Make more videos!
Will do!
Third
Robert McClelland Jr love it!
FIRST!
JT McCord killed it!
Joseph Powell haha this killed me 🤣🤣🤣
Hey Chandler , what about if the property is neglected and looks like s...t and seller is a jerk ?
Just kidding bro ...... you point the potential of it , right ?
Haha yep don the positive 😜
I feel like real estate is too overpriced right now . Prefer to wait for an economic crash .