Updated over 7 years ago on . Most recent reply
Your Best Negotiation Story
Hi BP,
What is the best negotiation you've done so far, what moves did you make and how did it turn out for you? Just walked on my first SFH deal and want to learn more about effective negotiation.
Most Popular Reply
@Shafi Noss a good negotiator is willing to walk away from a deal. bad negotiators have the mindset of; I want this deal and I want to get the best price I can. Good negotiators have the mindset; I am willing to walk away if I don't get X.
Probably our best negotiated deal was buying a property listed for $39k for $2K. I say "our best" because my partner did the negotiating. I would not have gotten that good a deal. LOL This was partly dumb luck. The listing was about to expire, The agent was fed up with the seller, the seller was out of state, in tax foreclosure, inherited the property and there was title defect we were wiling to accept.
Two lessons here:
- Deals to good to be true can and do happen.
- They don't happen enough to make a business model out of it. I have been investing 15 years and that is the only time a deal like that happened.