Christian Osgood explains why the asking price on a real estate listing is just a starting point for negotiation. He bought a 26-unit campus listed $500,000 above his actual purchase price by talking directly with the broker and understanding what the seller needed, closing with zero down.
Chapters
All deals listed online are bad deals if you look at the asking price, but that's exactly what it is. It's just asking. So what does a listing online actually mean? It means there's a seller that is willing to sell the property, so that is their negotiation point. So what are you looking for? You're actually just looking at the picture. Is it a building that you would like to own? You want to meet with the brokers who list that type of property, and you're going to actually work the deal. This was listed for over half a million dollars, this 26-unit campus, over half a million dollars more than what we purchased it for. We, however, reached out to the broker, we figured out what the owner wants, we put in an offer, it got Accepted. It was that simple. Now, while we went and bought this zero down, if you're looking for the opportunities, you have to start with the deal, and the deals are online regardless of the price that's posted on the listing.