Hi BP family, I have a quick question for all experienced investors (or anybody who's been in this situation).
I'm curious what's the best strategy you've found for negotiating a deal? Do you always aim for a win-win situation? Are there times in your experience when taking a loss would be advantageous in the long run, etc.
Reading a book and googling the "negotiating strategies" is one thing, but coming from a newbie investor, I'd love to hear your perspectives and stories. Is there a special tactic you've found that works for you, that hasn't already been mentioned online? Thanks again BP family :)
Investor/Agent · Kansas City, MO · Member since 2017 · 291 posts · 308 votes
7y
@Nate Vil...taking a loss? I mean I've done deals where I've made less than what I wanted because it was still more than $0, but I'm not going to do bad deals where I'm going to lose money. You might be overthinking this a bit. It's a numbers game. I have the number I need to buy or sell at and so does the other side. I'll do what I can to put a transaction together, but if it doesn't work for them or it doesn't work for me then many times I can't do anything about that.
Now if you get into asking about owner finance options with sellers then you have more flexibility to put a transaction together that makes sense for both parties. Good luck.