Wholesale Real Estate Investing: Being a real estate investor with a good reputation among your peers and around town will bring you many future benefits that you can take to the bank. Your reputation is important and will go a long way to earn you respect in your field.

Wholesale Real Estate InvestingOne of the best ways to earn that respectable reputation as a buyer is to make solid offers that give the seller a fair shake, too. When negotiations begin for a property, make sure you have all of your information at hand and already calculated. Never go into negotiations without knowing your exact limits, up and down.

When presenting the first offer, you will want to make the offer just below the upper limit you can withstand comfortably. This way, if the seller comes back to you with a counter offer that’s higher, you have a bit of flexibility.

Don’t be too low on your offers or you could insult the seller. Offer a fair price to maintain a decent relationship between you so you don’t burn your bridges. If you are seriously interested in the property, you will want to make a second offer if necessary and you could find yourself shut out of the process.

Most often the negotiations for a piece of property will have more than one round. The back and forth negotiating can involve condition of the property, repairs that need to be made, closing costs, financing, and of course, price. Leave the door open for further discussion until a settlement can be reached.

A good practice for your first offer is to add a cover letter to it that explains in detail the reason for your offer and how you arrived at that amount. This shows good faith and that you put thought into your offer before presenting it.

Do your research thoroughly before formulating your offer. It will be time well spent in determining the relevant significant details that you’ll need. The more information you use to make your decision about an offer, the more professional the offer will seem.

The negotiation process must be treated with respect. You will be pleased with the results if you always remember that your reputation as a real estate investor is on the line every time you communicate with a potential seller or buyer. The better your reputation is, the more likely you will be to receive the golden referrals that are highly desired by experienced real estate people.

Related Articles:

Hello fellow real estate investor! My name is Peter Gauthier and my business is buying and selling houses like kids trade baseball cards! With one of the largest wholesale buyers list in Virginia, Maryland and the Washington DC area, I am the one that investors come to when they need a wholesale property!
With a list of so many wholesale buyers, like yourself, we also have to have a large inventory of wholesale properties, our properties move fast!
Sign up to be on our wholesale buyers list and be one of the first to be notified when a property that fits the description of what you looking for comes along. It’s that simple!
  • Share/Bookmark

Tagged with:

Filed under: We Buy Houses

Like this post? Subscribe to my RSS feed and get loads more!