People get into real estate because they want to get their P greater than their E.
What does that even mean?
You want your P greater than your E, right?
But most people want their passive income so they can forget about their earned income—I’d suggest you need both!
And that means you need to start finding a great deal even as you continue to work.
The problem is, deals that are easy to buy are hard to sell.
So, when you go looking for a real estate deal, you need to look for the right kind of deal.
But what happens when you find that diamond in the rough? What happens when you find that GREAT deal you know is going to make you a ton of money?
You need to write an offer.
The mistake most rookies make is they start negotiating over price before they even get to the write up.
Don’t negotiate price before the write up.
Here are 3 quick tips to keep in mind:
#1 Ask: Simply ask the seller if they are willing to sell. Of course if a property is on the market you know they’re willing to sell—but I’m talking right now about hard to get deals, the kind of deals that aren’t on loopnet.com or on sale at your local broker’s list. If you see a property you want, ASK the owner if they’re willing to sell even if it’s not on the market!
#2 Price and Terms: Find out what are the acceptable price and terms. Why, because you can’t get anywhere without a starting point! Plus, you need to know what kind of numbers you’re going to be dealing with.
#3 Confidence: You must express to them that you’re the buyer. You need to have confidence in YOU. The more confidence you have in yourself as the buyer, the more confidence the seller will have that he or she will close the deal with you!