Negotiating for Beginners - tips and secrets

[Scott Garrels]

Hello,

I am still relatively new to REI and to BP. I wanted to seek some experienced guidance regarding Negotiating skills, a critical piece to success in this field I am sure.

If you have a deal that meets your targets and you have identified your max price point for an offer where is the best place to start?  Do you start at 80% of your max or some other spot?  At what point would you try and negotiate terms to offer a better price for the property?

I realize each deal has its own unique factors, but a general idea here would be extremely appreciated.