Tips for new investors

  • Don’t be dishonest – always be transparent with the seller. Avoid exaggerating the potential of the property or making false promises. Misrepresenting information can quickly destroy trust and make negotiations difficult.
  • Don’t be disrespectful. Treat the seller and their property with respect. Avoid making derogatory comments or behaving in a way that suggests you do not value the seller’s property.
  • Don’t pressure the seller. Avoid using high-pressure sales tactics or making unrealistic demands. The seller should feel comfortable with the transaction, and not be forced or coerced into making a decision.
  • Don’t be unprofessional – Maintain a professional demeanor throughout the negotiation process. Avoid using inappropriate language or behaving in a way that could be seen as unprofessional.
  • Do NOT ignore the seller’s needs. Take the seller’s needs and preferences into consideration when making offers or negotiating. Ignoring the seller’s needs can create resentment and make negotiations difficult.
  • Do not be greedy. Be realistic about the value of the property!!!! Do NOT make excessively lowball offers. Making a fair and reasonable offer (satisfying your formulas) can build trust and lead to a successful transaction.

Remember that the negotiating process should be a collaborative effort, with both parties working towards a mutually beneficial agreement. By avoiding these common pitfalls, beginner investors can maintain a positive relationship with the seller and increase the likelihood of a successful transaction.

If things do start go out of control, “better run, run, run, run, run, run, run away, oh-oh-oh” (just kidding) it’s important to seek the advice of a real estate professional or mediator to help find a solution.

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