- Use what I want, to get what I need, to get what I want. Example: I want a house, I need payments so I rent it, so I can pay for the house.
- It is my responsibility to make things happen.
- Market Value is a myth because people make deals, assets don't make deals. Market Value is the average of all prices that people will pay for comperable value.
- Cash: I'll give you a pile! What are you going to DO with the cash?
- My Job: Understand what is in it for the other party. It is not enough to listen- probe and find out. Say it. Get them to say it.
- "Do unto others as they would have done to them."
- "Don't tell me what you WON'T do, tell me what you WILL do!"
- "Opportunities stem from the uncomfortable circumstances of others." William Harding
- We are in the People business.
- Make an offer to open the door and start a discussion.
- Value is PERSONAL- the same house in a different neighborhood is worth less.
- Ask: "Why would you sell a nece house like this?" Then shut up and listen.
- It's about PEOPLE, it's not about the numbers.
- "I will gladly throw you a rope to get out of the quicksand, but I will not replace you or join you in it."
- An initial offer is a starting point- you are guessing based on the information at hand. As a result of the offer you can gather more information to start to construct an offer for both parties.
- In order for it to be a contract it must be understood. How many buyers /sellers /tenants /landlords understand the "standard" contracts?
- We can use currencies other than dollars to make deals.
- Seller finance, stay in the contract, and do the right thing.
- Learn to barter.
- Do a second mortgage with a wrap.
- Documents can negotiate for you. People will not challenge standard documents.
- Secure Options through Title.
- Real estate is a thinking man's game, not a running man's game.
- Every good deal leads to repeat and referral deals.
Do you have any gems of knowledge to share? Post them!
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