TAILIEUCHUNG - Commercial Real Estate Investing For Dummies For Dummies Business Personal Finance_8

Tham khảo tài liệu 'commercial real estate investing for dummies for dummies business personal finance_8', tài chính - ngân hàng, đầu tư bất động sản phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 172 Part III Funding Your Deals Financing and Lending Objection 3 I need a higher purchase price When you hear this objection you need to remember one thing The neat thing with real estate is that there are so many different ways to structure your profit in a transaction that you can often give the seller exactly what she wants and still make a healthy and significant profit for yourself. For example one of the things that you can do is give the seller her price but make sure that you get terms that are good for you. Those terms will help you make a good profit on the property. Use these language patterns to create a context for them to give you a great price on the property. Here s what it would sound like Investor Well you re asking for 974 000 for this property Mrs. Seller. What did you realistically expect to get out of the property Seller 974 000 that s my asking price. Investor What did you really expect to get out of the property Seller 900 000. Investor That makes sense. If a broker brought you a buyer who was willing to pay that full asking price of 900 000 you would probably say no correct You would probably turn it down Seller No I d sell it anyway if he would want to buy it or sell it with an agent. I ll sell it to anyone who wants to buy it. This allows you to then discount the price further by subtracting the amount the seller would be willing to pay to a real estate agent. Operating the Wraparound Mortgage Like a Surgeon When you re buying a property subject to the existing financing one of the seller s biggest concerns is that if you don t make the payments on the first mortgage the seller is going to be liable for the default on the existing loan. When you re selling a property you ll have the same concern if you re leaving the existing financing in place and carrying back a second mortgage. To protect the seller s interests and give him the comfort level that allows him to move ahead with the deal you can use something known as a wraparound .

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