Negotiating with Sellers

[Randy Estrella]

Hello BP! I have been doing some driving for dollars around my area and I was surprise to find so many vacant houses with minutes from each other. My curiosity is about NEGOTIATING, I have sent out letter to the owner as well as I found their phone number to call them but haven't done it yet the simple fact is because I don't know what key points to bring out to the owner besides tell them that I'm interested about purchasing their home. I know to ask the basic questions about if there is a loan amount, seconds mortgage, monthly payments, any late payments, etc... I'm not sure if to tell them that their property is nice but needs some major repairs/updates but what are some of your experiences when it comes to make the seller realize/negotiate that he or she should sell me their house and would you negotiate the price over the phone? Thanks,

[David Dey]

@Randy Estrella, @Rich O'Neill is right on the money!! (Make sure you upvote his post)

And kudos to you for catching the paradigm shift that most investors miss!!

We are in the business of helping people and solving problems!!

In fact, to remind myself of that, my official business model is "professional problem solver."

Now this isn't some sweet hug each other hippy thought process.  (I apologize if I offend any hippys out there... But let's face it, if you're a hippy and on "BIGGER POCKETS," you are a sell out anyway!!)

You are here to make a profit, however, the correct method to do this is like any other business.  You provide valuable goods or service in exchange fair profit.

I go into deeper detail on this concept in the following post.

(If you like it, don't forget to upvote mine as well... I know, shameless plug!! But hey, I'm not a hippy)

Anyway, I'll leave you with one more thought.  Exactly as Rich said, when you call, don't just jump to the money and the offer and the items that interest you.

Take the time to listen.  Ask them questions as to what is going on with them.  And let them talk.

If you listen long enough, they will tell you their problems.  If you really listen, they will even tell you how to solve them.

Remember, your best tools for negotiation are your ears!!

P.S.  Here is that post I mentioned.

https://www.biggerpockets.com/forums/62/topics/243...

Hope this helps.