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Updated over 5 years ago on . Most recent reply
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Need negotiating tips for talking with a tired landlord
Hey guys Daniel here from Saskatoon, Canada, this is my first post on bigger pockets. Looking for some negotiating tips.
I found a tired landlord selling a 4 bed 2 bath house. asking 225 and already gave us his bottom dollar of 200,000. Based on my best comps (2 being one year old, and the other four months) range from 325-385. I'd like to offer him 185 but he said he's turned down an offer like that already. the house is vacant and he's owned it for 25 years.. Im guessing mortgage free.
Anyone have any good scripts when dealing with older tired landlords?? Here is some negotiating power i have, He's offered up another one of his house that doesn't have a for sale sign yet and said he'd give us a deal. 400 for both, similar house, but LOTS more work. I don't think 400 is a deal id rather offer him 150 for the second. not my first flip but first private sale.
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- Rental Property Investor
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@Daniel Hargraves
Am I missing something? Your worse comp has his asking price at 61% of ARV? Why not pay him what he is asking and start working on making money?