All Forum Posts by: Ashley Ohno

@Ola Dantis

Thanks for the book recommendation! I'll make sure to check it out as well.

@Dennis Cosgrave

That makes sense. Thanks so much for the information and insight!

@Account Closed

Did you used to use an agent and found it just took too much time in the negotiation process?

That is interesting information though! I didn't realize that many sellers don't know they can counter offer. If that is the case it makes sense to have an 1st offer that doesn't low ball too much.

@Dennis Cosgrave

I see, so are you saying that from your experience you were able to get a great deal by putting other benefits and not changing the price? I can see how sellers focus on price so I wasn't sure the red herring technique would actually drive the seller's attention away from that.

@Aaron K.

Thanks for the insight.
So basically any negotiation has the potential of working as long as you use it within the 1-3 back and forth offers?

Hello BP! I am listening to Rental Property Investing by Brandon Turner and I'm at the topic of negotiation techniques.
One of the techniques listed is the Red Herring Technique. 
Basically its putting something in the contract that would mislead/distract the sell from a more relevant/important issue.
The example in the book was lowering the purchase price offering to dispose of your priceless china (I know the example is a bit over the top, but from my understanding he was just trying to make a point)
To me this sounds really off putting - and would do the opposite of helping you get an accepted offer.

So I want to know:
1. Has anyone ever used the Red Herring Technique?
2. Did it work?
and something extra
3. Is there a different negotiation technique that you prefer?

I've never used this technique but only have purchased a residential home. As I'm preparing to be a real estate investor, it would be great to hear what techniques have worked for other investors.

Hey @Hunter Lannon! Congrats on first post! ;)
I'm from the Corvallis area myself. I understand its a nice but very competitive area. It would be difficult to find a deal that has a nice cash flow.

I notice a lot of people who live in competitive and expense markets will do house hacking to lower rent and sometimes it does not require a large down payment. That might be a good possibility for you.

What towns are you considering in investing in other than Corvallis? Something like Albany or Philomath?

Welcome to BP! I'm originally from Oregon but been living here for the past 4 years. Have you been to the BP meetups here in Tokyo?

And while you are here are you considering investing in Japan or in the states? While you can definitely find good deals in Japan, you need to be careful as the market is very different that USA. Also buying properties out of state (and country) isn't impossible but can be a bit difficult as well.

Hi @Algi Skukauskas

I'm also looking into the Pittsburgh area to invest in so I'm interested in any findings as well. I have been talking with some investors and briefly with some agents that Pittsburgh is growing and developing

Having 80K is a good amount to use! Congrats on that! If possible I wouldn't use all of it. If you are interested in fixing a rental then consider a BRRRR strategy you can refinance later. That way you won't need to use all 80K and can use it for a buffer if the rehab is bigger than estimated or if you don't have enough from another deal.

@Charles Carillo 

Right now I'm interested in Single Family rentals and duplexes.
I'm worried that if I go much larger for the 1st investment property it could be overwhelming, especially since I am not in America or can't visit too often.