When negotiating deals, give concessions slowly, “If I do this, will you do that?” - Lou Brown's 101 Street Smart Cash Flow Accelerator # 28
Give concessions slowly. If I do this, will you do that? Okay. What that means is that there are so many different items in a negotiation and it's important because they might ask you to pay the closing costs. For example. Closing costs can be a large amount of money and it may be something that if you agree to that, what are you getting in return. It's important that you're not giving up all the stuff in the beginning, being anxious to actually get the deal and then later finding out that actually it wasn't nearly as profitable as you thought it was going to be. Consider all of the different expenses and consider that when the seller asks you for something that you get something in return. For example, let's say that the seller was arguing with you or discussing. The closing costs, and you say; “I'll tell you what. If I were to take care of the closing costs, would you take care of that water heater that doesn't work or would you take care of that leaking roof? Or would you take care of the landscaping that's not done? Or would you take care of replacing the carpet?” You see, there are so many things that once you look at the property, you'll know items that you can trade off with, so don't give everything up in the beginning. Let's see what we can do along the way to adjust. There's a reason that the word is called negotiations because many times people are willing to give and you've got to be prepared to ask for that. If you don't ask, guess what you don't get. Find out more profitable tips, tools, and system presented by Lou Brown on https://streetsmartinvestor.com.
Investors have long regarded Lou’s training, systems and forms as the best in the industry. He has been quoted as an expert by many publications including The Wall Street Journal and Smart Money Magazine.
Lou draws from his wide and varied background as a real estate investor. Having bought property since 1977, he has invested in single-family homes, apartments, hotels and developed subdivisions, as well as building and renovating homes and apartments. These experiences have given him a proving ground for the most cutting-edge concepts in the real estate investment industry today.
