The theme of today’s episode is keep it simple. Instead of just wanting to buy a house, you have to start simple and learn all of the aspects of this business first. If you don’t do diligence, you’ll wind up in trouble financially. Start out in real estate investing where you have less to lose.
Most of the time when I initially talk to a seller, they ask for cash. However, many times I can use negotiating techniques I’ve learned to show them they really are open to other forms of payment.
First, I ask them what they plan on doing with the money. If they tell me they want to put the money in the bank, then I know they are looking for security because the money is guaranteed. However, they aren’t going to gain anything.