How to Find Hidden Profit Centers in Your Deals

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Alrighty, just put together a brand new video for ya on finding hidden profit centers in your deals.

I walk you through a real world situation from last week with one of my Platinum coaching students, Jason Tooley.

Through the negotiation process with a seller of a 48 unit deal, I told Jason to ask two questions (that you’re about to learn) that uncovered piles of additional profits.

Check out the video below…

Amazing what a couple simple questions can uncover, ehhh?

Join the conversation here and toss your questions, thoughts, whatever is on your mind in the comment area.

And before you go, show some love and “Like” this post. Thanks :-)

-  Patrick

Tags: creative real estate investing, hidden real estate profits, negotiating real estate, patrick riddle, real estate investing, real estate negotiating
Posted in Negotiating, Real Estate Investment Buying Strategies, Tips and Tricks | No Comments »

Swipe This Negotiating Tip to Get Seller Financing

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I was talking with one of my friends recently, Justin Lee, who shared a great negotiating tip to get seller financing.

Not sure about you, but I LOVE seller financing.

… because any amount of the purchase price that the seller is willing to accept in payments over time is less cash that’s needed at closing. Thus, making it easier to get the deal done.

Plus, the less cash you put into a deal, the higher your return on investment.

So, when Justin shared this valuable nugget of negotiating wisdom, I had to relay it over to you.

Check out the video below…

(the quality of the video isn’t very good… but the quality of the content makes up for it :-)

Got another negotiating tip you would like to share?

Toss your tips, comments, and questions in the comment area.

Happy Investing!

~ Patrick

P.S. – What do you think of my second home???

Tags: negotaiting real estate, negotiating tip, owner carry back, owner financing, real estate financing, real estate financing strategies, real estate investment financing strategy, real estate negotiating, real estate negotiating tips, seller financing
Posted in Negotiating, Real Estate Investment Financing Strategies, Tips and Tricks | No Comments »

10 Commandments of Negotiating Great Real Estate Deals

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In today’s post, Julie Broad of RevNYou – Champion of MustKnowInvesting.com’s “Battle of the REI Blogs 2009″ – reveals the 10 Commandments of Negotiating Great Real Estate Deals …

Most people say they’d rather be rich than right, but they act like they’d rather be right than rich.

I think many people take this same mentality when they negotiate a real estate deal. They draw a line in the sand and require the other party to step over that line in order to do the deal. They pretend to seek the ‘win – win’ scenario but are only really thinking about winning.

It can happen so easily … you can analyze the property so easily when it’s from a distance. You can see clearly what price makes sense for you, and what makes a great deal.

Then, the second you decide to put in an offer your competitive instincts tend to kick in.

You want to beat the seller into giving you the lowest price possible. At least you feel that way until you find out there’s a competing bid, and then suddenly you find yourself offering way more than you planned to offer just because you have to win the deal.

Well I am not going to pretend to be able to negotiate everything expertly – but years of working in sales (from packaged goods to real estate information), training sales staff, and negotiating real estate deals has taught me a lot about what works, and what doesn’t.

Keeping it simple … here’s my …
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Tags: commandments of negotiating real estate, Julie Broad, negotiate real estate, negotiating real estate, real estate negotiating, RevNYou, revnyou with real estate
Posted in Negotiating, Tips and Tricks | 3 Comments »

The Title Search That Cost Me A Mil

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I was downtown last Friday and just happened to be driving right by “The Big Fish That Got Away.” It’s a property on Pitt street that we had under contract years ago but ended up letting it go. Check out the video and my new do . . .

Dusty just updated me on one of the aspects of the deal. I mentioned in the video that I wasn’t sure where we got the lead from, but since Dusty’s mind is like a steal trap, he reminded me. The seller lead came from a billboard that we had at the time.
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Tags: creative real estate investing, Negotiating, real estate investing, real estate negotiating, seller financing, title search
Posted in Negotiating, Real Estate Investment Buying Strategies, Real Estate Investment Financing Strategies | 2 Comments »

How to Get Around Lack of Experience and Credibility

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This is something that every real estate investor faces when getting started . . .

“How do I get around a lack of credibility when talking to sellers if I’ve never purchased an investment property? What do I say when someone asks me about my experience . . . or lack thereof? How should I go about getting private money to finance my deals without a proven track record? HELP!!!!”

Ok . . . calm down . . . every real estate investor has gotten past these seeming roadblocks to success. Keyword in the last sentence “seeming.” The lack of experience and credibility factor is much more of a mental obstacle than anything. But let’s break down the common areas where your lack of experience and credibility may be questioned and give you a structure to over this objection.

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Tags: creative real estate investing, Negotiating, private lending, Private Money, real estate investing, real estate investment financing, real estate negotiating
Posted in Negotiating, Real Estate Investment Financing Strategies, Tips and Tricks | 1 Comment »