One of the great strategies when negotiating real estate of any kind, especially investment real estate, is to know what the highest price you will pay will be BEFORE you begin the negotiation process.
Here in Kansas City, a good rental property will be many things. But one of the most import things it will need to be is profitable. Profitable rental property is not an accident. It is by design.
Before I let any of my clients begin bidding on a home I encourage them to know where their Stop Line is before beginning They can share that number with me if they want. But I’d rather they didn’t. I’d rather they keep trying to get the best deal possible until they get to that line and then just tell me, “that’s it. No more.”
I’ll understand. Honest. When you are figuring your numbers for your investment property you need to know where it is profitable. Why go above that number?
BBQ Capital | Kansas City Real Estate Investing 