The Negotiation Behind a Turn-Key Deal

ROI Wealth Watch

In the previous episode, Jared and Tom dissected what comprises a good deal. They put the spotlight on the pro forma and interpreted all of the data it provides. They also spoke with their colleague Adam Whitmire to help shed light on what it means to buy properties between an A- and C+ neighborhood. But, how exactly should you make the offer?

In this episode, Jared and Tom discuss the ins and outs of a deal and explain why it’s more than just suggesting a random price tag. They also share their insights on the psychology of low-balling, the kind of numbers you need to make an offer look good, and suggest tips and ideas on creating a good offer package.

“If it doesn't meet your investment objectives from a turn-key standpoint, you just don't buy it.” – Jared Garfield

In This Episode of ROI Wealth Watch:

• Contrasting the individual buyers and the turn-key provider.
• Why research is critical when making a lowball offer.
• What do investment buyers do differently when it comes lowballing?
• The steps in making the right offer.
• What's inside an offer package?
• The numbers you need to analyze a deal.
• The advantages of having a turn-key provider and the kind you want to work with.
• The importance of having boots on the ground.
• The effect of showing an offer package to the seller.

Wealth Watch Words of Wisdom:

1. Be ready to do the work. You have to have the data to make a professional offer.
2. Your cover letter is critical. It explains your business reasoning in a polite way.
3. Help the listing agent be your ally. Give them the data they need to go back and talk to their client.
4. Your strategy is going to change depending on the phase of the market cycle.

Resources Mentioned:

• Homefolio
• MLS

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Help Others Buy Real Estate in the Right Markets at the Right Times!

Thanks for tuning into today’s episode of the ROI Wealth Watch podcast with Jared Garfield - your resource for learning to buy real estate in the right markets at the right times. If you enjoyed this episode, head over to iTunes to leave us a rating and review. Subscribe to the show so you never miss an episode, and visit our website to grab your free gifts!

And, if you’re looking for the best turnkey rental properties to invest and renovate to maximize your real estate portfolio, visit the Rich Life Real Estate website to view turnkey rental opportunities or speak with an investment advisor for more information.