Real estate investment is a great way to make money, but it's important to know how to negotiate a good deal. To get the best possible price for your new purchase, it's essential to do a comparative analysis of the housing market in the area you're interested in. The Mashvisor investment property calculator can be a great help in this regard, as it will show you the prices of thousands of properties in the US, along with their main characteristics (square meters, number of bedrooms, number of bathrooms). Once you have an idea of the market value of the property, you can start thinking about your negotiation strategy.
One of the most important tips for real estate negotiation is to consider your most important figure: the absolute limit you're willing to pay before you even make your first offer. It's also important to remember that buying investment property in a buyers' market is very different from buying investment property in a sellers' market. When negotiating, it's important to create a solution that works for all parties involved. Be willing and able to walk away from the deal if necessary, and consider using an escalation clause to lock down the property.
Finally, remember that real estate investing is about making the most money with what you can afford to invest.
