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Updated about 8 years ago on . Most recent reply

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8
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Eddie Pina
  • Mission, TX
1
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8
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Offering on a real estate deals

Eddie Pina
  • Mission, TX
Posted
I got a quick? When offering a price to the seller would i make a lower offer on the listing price or the appraisal value of the county.

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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,407
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

You make the offer based on the maximum amount you can pay in order to make money. This is based on what your Market Analysis, the Property Profile your REI Investment Plan has generated, and what Entrance Strategy (based on your Exit Strategy...which is based on the next Entrance Strategy) you are using. You negotiate from there, following (and NEVER deviating from) the Rule that you NEVER go over the maximum bid $ Number you generated above.

I tell my REI students in my REIC all the time, "If negotiation is an art, and analysis is a science, in REI, the best scientists will make the best artists".

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