Hey, friends. Have you ever wondered how
to get the very best deals in real
estate? Well today, we’re gonna talk about
how to negotiate the very best purchase price.
Hey, friends Stephen Michael Miller
here and today we’re gonna be talking
all about negotiating and really getting
to the details of the deal and trying to
find out if this is a deal that’s even
going to necessarily work for you. Before
I jump in too far, I want to show you a
quick question that we got from somebody
named Tyler. Hey, Kris. When you go to
purchase a home through a personal owner,
do you tell them that this is going
to be your investment property? Alright,
we’re back. So really the question here
that he has and I’m gonna get
to some of these other points here in
just a minute but the question that he
has is, do you tell the individual that
you’re going to go buy the home from
that you’re looking at the home with, do
you go and tell them that you are an
investor? And I want to answer that in a
couple different ways but i’m going to
start by first of all, telling you that
no matter, what you want to make sure
that you’re honest in everything that
you’re doing. I’m telling you right now,
people can smell dishonesty, they
can feel it, it shifts the energy in the
room so if you try to tell them, hey, I’m
buying this home for myself but in
reality you’re an investor, they can
sense it, they know it and they’re just
gonna push you away, they’re just not
gonna want to do business with you so
above all and all things please be as
honest as you could ever be which just
means be honest and everything that you
say, right. Just go forward with that foot
forward. With that in mind, it’s best as
you’re going into a negotiation to
really before you go in and tell them
all of your purposes and everything that
you want to do with the home, don’t even
worry about that. The first thing that
you want to go into and the best way to
negotiate is to find out the needs of
the seller, right. So if they’re selling
the home, they’re doing it obviously for
a reason, my biggest question is why are
they selling the home? What’s their
motivation? How fast do they need to sell
this home? What price points are they
really looking for, are they needing? What
are they owe on the home right now? And
is that relevant or not for you, right? I
mean, there’s all these different
questions.. Negotiating,
the best negotiating happens as you find
the paying points in and you offer up
solutions. If you haven’t found any paying
points yet but you’re going in and
saying hey, I want to buy your home, I’m
an investor and I’m really excited and
I’m gonna put a, you know, I’m gonna
change this step, the other thing, you
know, if you’re going in there with that
type of energy, it could turn off a
seller even if they’re motivated to sell,
maybe they’re really emotionally tied to
the home, maybe they want the home to be,
you know, sold to a really good family,
you know, there’s a lot of reasons why
you may not want to lead with that type
of force or that type of energy so my
recommendation is number one, find out
what their needs are first. I actually
have a friend who just got into a
property and he was looking at it for
investment purposes but before he told
him any information, before they even
asked him, he just asked them, hey, why are
you selling the home? Tell me
about your story and he was willing to
listen. Now pause for just a second. I
know I’ve already said this but
listening is one of the most important
things that you can do. A lot of
investors, because they’re so
enthusiastic, they skip past this
really crucial element but back to the
story, because he was willing to listen
and really take some time to hear their
story, they opened up to him, they told
him all about how, you know, their
parents were moving out because the
home was way too big for them, they were
actually moving in with some of their
children, they’re moving into a different
state, all these different things there.
So they were basically combining two
different households into a different
state, they just needed to sell the
property they owned. I think the home
outright but they just needed to get, you
know, they were selling it at
a discount or willing to sell it at a
discount because they were on a
time crunch so because he found all this
information now, he thought to himself,
well how can I help these people and how
can I get the benefit I’m looking for as
an investor but help them in the very
best ways possible? So we told them, look,
I can actually, I can help you in the
moving process because they were saying,
like, we’re in a really big time crunch,
we’re just gonna, you know, we’re wanting
to sell all this stuff off, we’re gonna
do this that and the other, we want to
get out of this home, he said, look, I’ll
manage the sell of all the property, are
you looking to get something out of it? I
said, no, you can actually take it and so
they basically
gave him almost every all the
contents that were inside the home, they
said, you can sell it if you want to, he
actually said, hey, I’ve got a friend who
runs a charity, I can donate a lot of
this to that charity and they were super
excited about that, it opened up so many
different opportunities on his end and
they were super excited about being able
to help other people as well and he
said and I’ll take care of
everything for you, just go ahead and
don’t worry about it, I’ll take care of
this, I’ll be able to get it. I will
guarantee you the monthly payment that
you’re looking for, would you mind if I
actually rented it from you for a while
and then down the road, you know,
I purchase it from you later for X
amount of dollars, giving you what you
need as well as me the time that I need
to be able to do what I want to do with
it? They were totally open to it so
the point is here, is before he went into
any of his strategies and what he was
gonna do and I don’t think he even had
to go into the details of everything, he
basically, he listened to them, he found
out what their needs were, he found out
what their pain was, what the pain points
were and he offered up really great
solutions to that pain. He asked
questions, he was very upfront and honest
with them and, you know, what he was
doing and because of that he got what
could have been and because of that, he
got into a deal that otherwise he may
not have ever gotten into because he may
not have ever found out what the true
pain was and been able to offer up that
solution so back to the question from
Tyler, should I tell them that I’m an
investor? I’d say if they ask you, tell
them. If they don’t ask you then really
start asking them as many questions as
you can, find out as much as you can
about the property and look to link a
solution that you have to the problems
that they’re putting up and
if you can do that, you’re gonna find a
great deal almost every single time. Hey,
friends. Thanks for watching. I would love
to give you more and more and more. If
you haven’t subscribed to channel yet,
please do so. If you’ve got any
comments or any other questions about
negotiations, put them in the comments
below, we’d love to hear from you.

How To Negotiate Real Estate Price

11 thoughts on “How To Negotiate Real Estate Price

  • July 8, 2018 at 3:32 pm
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    Thank you for what you do Chris 🙂
    You are really changing the world for the better. If you are someone like me who doesn't know what to do on the side of YouTube you know that coming here is the best place to make good quality money

    Reply
  • July 8, 2018 at 3:33 pm
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    Willne did a video on you please respond to it

    Reply
  • July 8, 2018 at 3:41 pm
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    I am 13 and i am going to invest in building 2 apartments.
    These videos really help

    Reply
  • July 8, 2018 at 7:22 pm
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    I'll be doing home development so this really helps , thank you .

    Reply
  • July 9, 2018 at 1:39 am
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    Question on lease options: How do you protect your investment from hyper-inflation? During that two year time-frame, a lot can happen in the economy. If I look to sell a home via a LO and the tenant-buyer and I agree on a price, however, what happens in the event of the dollar going massively down in value?

    Reply
  • July 9, 2018 at 3:55 am
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    Hey Kris and Stephen, my question is…. How can I do Real Estate, when I want to own a Restaurant that needs my attention? This restaurant is very well established so it would be at a high price.

    Reply
  • July 9, 2018 at 7:38 am
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    Kris and Stephen, how as a 14 year old teenager can I start to maneuver my path towards success? How can I start finding mentors and building the right education at my age?

    Reply
  • July 9, 2018 at 10:28 am
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    Hi I have a house in India and I've finished all my payments towards that house
    I was wondering if I could still use the equity to invest in a new house

    Reply
  • July 10, 2018 at 1:25 am
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    Hey man I have a question if I borrowed money from the bank and buy a house then I sell the house.
    If I want to buy another house I should pay all my mortgage to the bank , theeen Tried to take another loan for the next house, or the bank simply doesn’t care about How many houses I buy if eventually payed all my debt.
    Please reply if you have the time thanx for the great videos

    Reply
  • July 11, 2018 at 11:15 am
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    cheers Bro

    Reply
  • May 9, 2019 at 10:34 pm
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    Great video with very human advise

    Reply

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