In this episode of Escaping The Real Estate Newbie Zone Chris Bruce talks about why making a ball park offer to homeowners is important initially. In real estate to increase your profits, the lower you buy the property and the higher you sell will increase your profit margin. But when is a good time to make the offer? Should you go visit the property first then run comps, and make the offer? Or should you run comps first make a initial offer first, then schedule to go see the property?
After making this mistake when first starting off, I found that giving the homeowner a ball park price works the best. This way if you can both agree on this, you have somewhere to start off with, and can adjust or even renegotiate after viewing the property. To many times the homeowner is going to want way more than what you’re looking to pay for the property.
So once you learn how to position yourself, and the ball park price offer, this will save you a lot of time in your business.
Subscribe to the Podcast
To subscribe to Escaping The Real Estate Investing Newbie Zone Podcast, just use the links below: