TMC #28 – How to Renegotiate a Deal Efficiently, Effectively and Ethically - Become A Real Estate Investor, with Brad Smotherman

Although this one was recorded the morning after Halloween, hence mentioning costumes and candies, we wanted to draw your attention to another crucial element of deal making. After discussing contracts and due diligence, today we want to talk about renegotiation – when to do it, why and how to renegotiate a deal in an efficient, effective and ethical way.

What is Covered:

  • What the subjects of renegotiation are
  • Five things you should know before buying a house
  • What NOT to do when you want to renegotiate
  • Home inspection gives you permission to renegotiate
  • Why you should never make your seller feel guilty or ashamed
  • Brad and Tony simulate a renegotiation conversation
  • The benefits of renegotiating terms and not only price

Remember that your best deals are going to come from term deals and not price deals. Terms are key for the profitability of your long-term deals, but price comes first, then terms. Always keep in mind that a house is a means to an end.

Email us if you have a question you’d like answered on one of the following Tuesdays.