When I made my sixth lowball offer for one of my latest real estate investor clients, I started wondering if he actually wanted to buy anything or if he was just playing real estate investor. I have shown him what I can prove are cash flow deals, and he lowballs to try to make the deal sweeter. We have missed all 6 deals because of his efforts to get "the deal on a deal."
So I came up with some questions/suggestions:
1. How much cash flow do you want in a deal? 2. When I find you a property that will cash flow that amount, are you ready to buy it? Nothing complicated, just a deal or no deal methodology.
I asked him how much money he'd be making if we had closed on one of the deals we missed. And what about on all 6 of the deals he tried to sweeten? He has gotten the idea that too much sugar in sweet tea is is just too much sugar. It doesn't make the tea any better.
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker