NEGOTIATING SECRETS OF THE OVERACHIEVING INVESTOR
Without a game plan, you’ll always fall short of success.
—Don R. Campbell
When Richard and I met again, two days had passed and he had received some good news. The bank’s appraiser had assessed the property at a value that was slightly above what Richard was paying for the property. He had also spoken with the house inspector, and although the report wasn’t finished, the inspector didn’t fi nd any serious problems with the property—only some minor cosmetic work would be needed. So far, so good! He was just waiting for the banker to say yes.
Now was the time to talk to Richard about the importance of negotiation strategies. Negotiation is an art form in and of itself and can take years to master. However, I have 18 very straightforward strategies and negotiation secrets that investors can start using immediately. And I decided to share these with Richard in this meeting.
“Richard, I’m sure you’ve noticed that, as a real estate investor, you will be negotiating on just about everything that you do from now on. Often, even talking about negotiations can cause fear and uncertainty in a novice investor because, quite frankly, not a lot of people are taught the art of negotiating. Have you had much negotiations training in your life?”
Richard thought back to his training and said, “I remember watching my supervisors and boss negotiating with suppliers and courier companies. It sounded more like demanding and yelling rather than ...