Hunter Estess began working in real estate in the early 2000s, and received his degree in construction management in 2006. Today, he has hundreds of real estate investments.
One of the things that every beginning real estate investor needs to understand is that is a big difference between the business of investing in real estate, and the legal aspects of buying and selling real estate.
Lawyers find potential problems and explain to their clients all the details of what might happen in every legal scenario. As a real estate investor, you need to keep legal matters in mind, but you can’t think like a lawyer. Lawyers usually advise their clients to steer away from a deal if a deal has legal issues. At the same time, lawyers are not educated or licensed to provide business recommendations and advice to their clients.
The best approach is to understand that everything is negotiable. While a property or a building may have problems, almost all problems in real estate business come with a price tag. A property may have some legal issues like zoning, but you should ask yourself whether these issues are a deal-breaker, and what your price tag is for each issue.
You need to look at all legal problems as a way of getting more out of a deal.
If you are a buyer, you need to remember that the longer a negotiation lasts, the more likely the seller is to become cooperative when it comes to price. The reason for it this simple: when you are starting to negotiate, the seller is already spending the money from the deal in their mind.
Hunter Estess always takes his time to prepare for a negotiation and conduct his negotiations in a professional manner that increases the chances of a successful outcome.