JANUARY 2007    • Making offers Part 3: Negotiating • Landlording-Finding Properties Part II • Landlording-Finding & Managing Tenants Part I • Start with the end in mind • Tips & Tricks: How to Find Motivated Sellers Making offers Part 3: Negotiating The art of negotiating takes a lot of practice and a lot of learning. There are many ways to say the same thing. Negotiating is asking for what you want in a way that highlights the benefits for the person you're negotiating with. For example, you are interested in purchasing a property for the lowest price possible. In order for you to do this, you probably need to find someone motivated to sell quickly and willing to sell below market. The only question now is how much below market can you get them to go. Let's say you find a property where the property's market value is figured to be $250,000. The seller is asking $240,000 but says that he is motivated. After asking a few well-placed questions, you find out that the seller is "motivated" because he lost his job and is moving back to his home state to live with family while he looks for another job. You know he needs to sell quickly and will likely take less than his $240,000 asking price. More... Landlording-Finding Properties Part II The key to creative real estate investing is leverage. We want to leverage our time by building a team, and creating partnerships. We also want to leverage our resources. Seller Finance is a great way of doing this. It allows us to put a deal together that does not tie up our credit, and cash. We typically need to pay a down payment to the seller in exchange for them being willing to carry financing. At the same time, we are going to put a tenant or tenant/buyer into the property. The deposit we collect from them will defray, or eliminate any out of pocket expense to us. When we put someone into the property, whether we own the property or not, we now become a landlord. We take over the responsibility for maintenance & repairs in our contract with the seller. At the same time we turn some of that, if not all, responsibility to the tenant. More... Landlording-Finding & Managing Tenants Part I You bought a house, and are a landlord for the first time. You need to get the home ready to be rented. A clean, attractive home in a good neighborhood will always rent faster, and for a higher price than a home in poor condition in a less desirable area. There is nothing wrong with doing the least possible to get it ready, but you need to know what the expectations are of renters in your market. It should look better than other places they have seen. More... Start with the end in mind "Think of how much money we can make!" Sound familiar? It should if you've been investing in real estate for any length of time. We find what on the surface looks like a great deal, and of course we jump right in. Only later do we think about how much we are really going to make. Only later do we think about an exit strategy. Only later do we get a true estimate of repairs. The problem is that real estate investing can be, at times, risky, and if we don't understand and manage the risk through proper planning we can see our great investments go from great to good to marginal to poor! More... Tips & Tricks: How to Find Motivated Sellers There are many ways to begin your real estate investment career, and one of the best ways is to actively look at properties with agents. More... View Previous Issues Of The Robert Shemin Update Professional Real Estate Investors Group, 7965 South 700 East, Sandy, UT 84070 Phone: 1-800-731-7220 Contact Us By E-Mail    Copyright © 2010 Professional Real Estate Investors Group, Inc.