A couple of weekends ago, I spoke at a 2-day Seminar in Sydney organised by Wealth Creator Magazine. My session was all about the *Emerging Trends in Commercial Property*.
As a regular subscriber, you are pretty much kept up to date with those trends through the eBulletins you receive — and now, via these regular Updates. However, several people at the seminar showed a keen interest in how you go about successfully structuring an acquisition.
Don’t just focus on the price
As I explained to them, most Investors seemed to focus solely on the purchase price. Whereas, in many cases, you’re better to let the Vendor name the price AND you name the terms.
Plus, one of the other things we covered was that you enter each negotiation with a list of aims you want to achieve. However, you tend to assume (wrongly) that both you and the Vendor have identical agendas.
In all my 35+ years in property, I’ve never found that to be the case. Sure, you may have one or two items on your lists the same; but I can assure you they will be in a completely different order.
So, the secret it to discover what is motivating the Vendor — not just make assumptions. And if you haven’t already done so … you can “read one of my FREE eBooks”:https://www.gal.com.au/index.php?option=com_remository&Itemid=145&func=selectcat&cat=1 — which should help you in making a success of your next negotiation.
As you’ll appreciate, the contract price and terms are just one part of a successful deal. You also need to cover things like … due diligence, financing and the various tax issues.
Would you like to join in a Workshop here in Melbourne?
Several eBulletin subscribers have been asking me if I ever hold Seminars or Workshops on all these key issues. And, to be honest, my talk at the Wealth Creator Seminar has been the first for a while.
However, I’m more than happy to run an extended Workshop, if you would like to come along: Perhaps on a Saturday from (say) 9:30 am till 3.30 pm.
My plan would be for the Workshop to be very interactive, and focus on … “The 8 Key Steps to Help You Profit from Every Acquisition”.
But why don’t you simply leave any comments you have below; and I can then create a tailor-made Workshop — based on exactly what it is you want to know.