A real estate negotiator explains why asking the seller to cover holding costs while you renovate beats haggling over price. You pay full asking price but get months or a year to add value, turning the property worth more than you paid for it.
when I say, "Tommy, are you gonna hold it for me?" 'Cause here's buy something, I have to put it in holding costs. I have holding costs on it until I get done with it, with whatever I'm gonna do, right? So if I can get the current owner to do the holding costs for me, and that's all I gotta worry about is just getting the work done on it until I can make money off of it, and they hold the thing with holding costs, that's doable in some situations because then when I buy it, it'll have a bigger value to it than what they sold it to me for because they, they did it and like they held it for 6 months or a year. And so there's been a couple of those where like we can, we can do those. And, and it's, and it's, you know, beneficial. But again, we're negotiating time over money and I'd rather have time than money. I'll pay full price if I can, if I can get the time to make it worth more money because I'm good at that. Right.
