There's An Art to Getting the Lowest Possible Price from Owners of Wholesale Properties!
In this lens,I will give you proven techniques for obtaining the lowest price possible from owners of wholesale properties. These techniques add up to great profits!
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Getting the Wholesale Property Owner's Lowest Price!
Tim Mai shows you techniques for getting the lowest price possible--and the greatest profit!
In my last article, I showed you how to contact sellers of wholesale properties in the most effective way possible. In this article, I'll show you how to get the lowest price possible so you can make a good profit on every deal.
After you ask a seller what's the least amount of money they'll accept and they give you an answer, the first thing to do is wait! Don't jump on the offer right away. Instead pause for three to five seconds. Or if they've quoted a really unreasonable price, chuckle a little bit and say, "Can you tell me a little more about the property?" to gain information and get the seller to open up.
If a seller quotes a price you like, then simply answer, "Hey, that's a possibility." Then pause for three to five seconds and ask the same question as above, "Can you tell me a little more about the property?" Once you have enough information, ask again, "What if I pay in all cash and can close quickly? What's the least you'll accept?"
Keep on doing this until you get the price you want. After you do this three or four times, the seller will say, "I absolutely have to get this price!", and you'll know they'll sell it to you for that amount. The price means you can get the house under contract for the present. But if you can't wholesale it and make a minimum of $3,000, go back to the seller and negotiate for a lower price.
As soon as you get the price you want, schedule an appointment to look at the house right away. The sooner you meet with the seller, the better! This is especially true when the owner wants to sell and has a lot of equity. This means they have some sort of motivation to sell, and you need to find out what that motivation is. In a case like this, I sometimes bend the rules even though the price they quote isn't close to what I want. If I know they have, say, $50,000 or $100,000 in equity or they own the house free and clear, I'll want to meet with them, and then use the needed repairs to try to negotiate the price down.
In my next article, I'll show you how to pre-screen the deal
Want to find wholesale properties and neighborhoods the easiest way possible? Go to www.DoDeals.com!
After you ask a seller what's the least amount of money they'll accept and they give you an answer, the first thing to do is wait! Don't jump on the offer right away. Instead pause for three to five seconds. Or if they've quoted a really unreasonable price, chuckle a little bit and say, "Can you tell me a little more about the property?" to gain information and get the seller to open up.
If a seller quotes a price you like, then simply answer, "Hey, that's a possibility." Then pause for three to five seconds and ask the same question as above, "Can you tell me a little more about the property?" Once you have enough information, ask again, "What if I pay in all cash and can close quickly? What's the least you'll accept?"
Keep on doing this until you get the price you want. After you do this three or four times, the seller will say, "I absolutely have to get this price!", and you'll know they'll sell it to you for that amount. The price means you can get the house under contract for the present. But if you can't wholesale it and make a minimum of $3,000, go back to the seller and negotiate for a lower price.
As soon as you get the price you want, schedule an appointment to look at the house right away. The sooner you meet with the seller, the better! This is especially true when the owner wants to sell and has a lot of equity. This means they have some sort of motivation to sell, and you need to find out what that motivation is. In a case like this, I sometimes bend the rules even though the price they quote isn't close to what I want. If I know they have, say, $50,000 or $100,000 in equity or they own the house free and clear, I'll want to meet with them, and then use the needed repairs to try to negotiate the price down.
In my next article, I'll show you how to pre-screen the deal
Want to find wholesale properties and neighborhoods the easiest way possible? Go to www.DoDeals.com!
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