Two real estate investors walk through their third deal, where they offered $186,000 on a property the seller wanted $180,000 for, then watched it sell for $205,000. They overpaid because they were weak negotiators and the seller knew it. The lesson: buyer strength determines everything in a deal.
And this is when we were not good at negotiating at all. We were just—
This was for our third deal.
This is our third deal. We were shaking because we need—
This might've even been negotiated before we even closed, probably. What do you mean? We probably hadn't gone to the title company and closed and got paid from—
Oh, probably. Probably not, right? The other ones are probably still working. So we wanted this one, right? So she's like, $180,000 is kind of what I want. And then I looked at you because you had more experience this time. —And they're like, "What do you want for it?" —I was feeling the pressure. I was like, "No, I got to make a decision.
I don't want to make a decision." But he did. But then I was like, "We'll pay $186,000." I'm sure we could have got away with like $181,000.
You probably could have gotten away with $180,000, but they were just looking at each other and like, "Are you sure?" Kind of like, "Okay." And we're like, "Yeah, sign." So we were just like, "Bam, got it." Because we knew it was a deal. Anyway, that one was kind of because our buyers again were weak. That one took a while to sell but we ended up selling it for like $205 or something like that.
$17.50 I think.
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