Finals Steps to Closing a Deal

I’ve written about getting more power in a negotiation. Now it’s time to wrap it all up by discussing the final steps to closing a deal. Just remember… There are a few traps you can easily fall into if you’re not careful. To avoid those traps, consider these tips: Make Your Offer the Right Way I mentioned soft offers in an earlier post. This is when you let the agent know that you can’t go above a certain amount and ask if there’s any wiggle …

Negotiation Power

You can never have too much negotiation power. The more you’re prepared, the higher the chances of getting a good deal.  My advice is that you should go into a negotiation assuming the seller knows how to get the asking price.  But do you know how to get your price? Don’t sweat it. Here are four tips for negotiating better deal terms: Be Honest To present yourself as a serious negotiator, you might feel compelled to twist the truth when talking to an agent. Some …

How to create a winning deal

I always say that every deal comes with multiple terms that are open for negotiation. (And I’ve  talked about it in some of my previous posts.) Negotiating these terms can ensure that the property fits your budget or broader investment strategy. Also, knowing about these terms can give you a lot of bargaining power. You can close the deal in a way that benefits everyone involved, while satisfying all your buying criteria. There are actually many things that are important to negotiate to create a …

Made an offer on a property and got rejected? Here’s what to do next

So you found the right commercial property to invest in.  You did your due diligence and everything looked great. After consulting with the valuer and agent, you crunched the numbers and came up with an offer. …And then it got rejected. Now what? That’s what I’d like to talk about in this post.  This is going to happen quite a few times in your investment career. Vendors will change their minds and demand something else, or someone may come in with a better offer. Whatever …

Negotiating? These are the questions you must ask

My last post discussed what you can do to get the upper hand in a negotiation. I also mentioned that you probably won’t be dealing with the seller directly. You’re more likely to be talking to the seller’s agent. I certainly prefer to do it this way, as do many other investors.  Now the question is, what should you ask the agent? Of course, this will depend on your situation and what you’re trying to achieve. But from a negotiation perspective, you’ll want to ask …

Knowledge = Negotiating Power

When negotiating a deal, you must know what you’re up against. I don’t mean this in the literal sense, since you likely won’t be talking to the vendor directly. What I mean is that you should know as much about the seller and the property as possible. The right knowledge can give you more negotiating power. In many cases, this can result in a better offer. So how do you get the upper hand in a negotiation? Here are a few tips to follow: Know …

Make money with commercial property

In my last post, I promised that I’d teach you some useful negotiation tactics. Because if you want to make money with commercial property, you have to learn how to negotiate. Sure, finding the right property may give you positive cash flow. But you’re not going to maximise it unless you know how to negotiate a good deal. What’s more, it isn’t unheard-of for this skill to save you tens of thousands of dollars. Although you’ll likely be paying a lot for a commercial property, …

Is it safe to buy a vacant property?

Let’s face it – 90% of investors avoid vacant properties. They think the risk is too high. So, for beginners to commercial investing, this is exactly what I recommend you do… It’s better to set yourself up for a win by buying a tenanted property with good returns. However… While it’s true that the risk and the cash outflow can be high, you shouldn’t automatically discard a vacant property. Why? Because, it can be a massive opportunity if you get everything right. With that in …

How to determine of that property is worth your money

When looking at a property, I always approach my bank or broker and ask them to recommend a valuer. This is something you should do as well. In property investing, it’s a great idea to find a good valuer who can help you determine if a property is worth your money. However, you shouldn’t just leave it to the bank or broker to talk to the valuer. You’ll want to speak directly to them as well. This can have many benefits and ensure that you …

The right way to value your desired property

I’m in Hawaii right now… it’s winter but still a happy 28℃ And I was at a fancy ice cream shop picking a flavor when I noticed that the building was for sale. And so was the building opposite, over the road. It got me thinking about you… Here’s the thing…the building the ice cream shop was in is a beautiful old building with some lovely features. The one over the road (I don’t know what they were thinking!) was a pretty ugly glass and …