Are You Getting the Best Deal On Every House You Buy or Are You Settling For Less?

Posted on May 10, 2016 by

This is a question I constantly ask my students about every offer they are thinking about making to purchase any property, and I also ask myself this question before making an offer to purchase on every deal I do. It’s a wonderful thing when you put together a profitable deal but why not take a minute before submitting your offer to a flexible seller and ask yourself, “is there any way I can make this deal better”? If you are paying cash for the property I don’t know of any way you could make the deal better unless you offered more CASH to the seller. I truly believe that would be a huge mistake. It would be a huge mistake because it would in most cases only benefit the seller and not you.

Always Ask Yourself, How Can I Make My Offer Better For Me And The Seller Before Submitting Your Offer to Purchase Any Property?

The question is how can you make a better deal for you? If you are paying all cash, good luck. If you are getting seller financing terms there are many different things you could ask the seller for that could make the deal better for you as well as for them. Here are Six creative suggestions you might offer a flexible seller. Especially to those flexible sellers who want a certain price, monthly payment or interest rate.

Let’s start with…

  • You could offer the seller a payment they would be happy with by slightly increasing the purchase price to the seller if they will allow you to pay a lower interest rate and get a longer payback period. This strategy could work when a seller has a specific number in mind they want, or need to receive every month.
  • You could offer the seller a price they are happy with if they would be willing to lower the monthly payment if you agreed to increase the interest rate to get the desired payment amount you desire.
  • You might offer the seller interest only payments for a period of time. This would keep your monthly payment lower for that period of time. After the agreed interest only payment period, then convert to long term seller financing terms.
  • You could offer the seller a monthly payment amount they were happy with if they will allow you to, make a small down payment, raise the interest rate and get a longer payback period of time.
  • You might offer the seller a monthly payment they would be happy with if you would be willing to increase the purchase price, lower the interest rate and get a longer payback period of time.
  • Another thing you might suggest to a motivated seller who has a property that needs repair work done to it is suggest you doing the repair work they failed to do and use the cost of the rehab as your down payment and possibly some additional equity. Why would you pay the seller for the property, give them a down payment and then have to fix the property out of your pocket? Anytime you can eliminate repair costs or a down payment by offering to exchange your labor for equity in the property you are buying is always a good idea.

I have just shown you six ways the seasoned investors I know maximize the profits they make on the deals they do. There are many, many more ideas you can ask for but I will have those in future articles.

I just re-built my website www.LarryHarbolt.com to include all of my older products and several of my newer products that can and will teach you what the seasoned investors know and understand that most investors will never know unless you follow my information.

Also, please follow me on Facebook for my daily real estate mini-lessons I have been doing over the past year that consist of information you won’t be able to find in any seminar available anywhere today, except in my courses and at my boot camps. Please like and sign up for this site.

Until next month, Happy Investing and Good Luck!

Larry

Larry HarboltLarry Harbolt is the nation’s leading Creative Seller Financing expert as well as a popular national real estate speaker and teacher whose time-tested strategies and nuts and bolts teaching style has helped thousands of aspiring real estate entrepreneurs realize their financial dreams with little or no money and without the need for credit. Larry has been successful creatively buying and selling real estate for over 30 years and has written numerous popular articles and real estate courses. Larry also has been running a meetup group for real estate investors in St Petersburg, Florida for over 13 years. Larry is the real deal!

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