Not much going on but here is an update. As of right now there are two properties that I’m properly interested in. I have one offer in on one of these properties.
It’s a bit below what the seller is willing to accept and dealing with him has been a bit tough. I think mostly because of a very unmotivated realtor and the fact that the seller doesn’t really need to sell. My tactic here is to keep in contact with the seller, and draw the process out as a mean of negotiation. I have read somewhere that people who have put a lot of effort into closing a deal tend to feel more obligated to see that deal through. That means they might be more willing to meet your demands for closing it. I’m making sure that I and the seller are in contact every once in a while to talk about the property. I also try to ask him for small favours all the time. Things like old documents, another look in the basement, etc. Not sure if this will work out yet, but it’s fun. I’ll keep you posted.
The other property is probably even better for me. It’s in a location that would be a perfect addition to the properties I already own. The seller of this property approached me as I was mowing lawns on my own place last week and told me he might be looking for someone to sell his place to. I promised him to go do some calculations and come up with an offer. I did this together with my banker just before I went to Norway and now have a number that I will deliver to him during this week. In my opinion a location like this, just next to real estate I already owned, should be more valuable to me so I have really tried to make a really good offer for him. Would be awesome if we could do this together. I’d really like to keep building on what he has started.
So. That’s about it. I’ll give you any updates that are worth sharing. Until then, wish me luck :)
ps. Another good tip hidden in this post. Always try to keep a few projects (or bids, or..) up and running. This way you can always focus on the project where your effort makes the biggest difference and at the same time being able to give the project that needs its time to cool off a bit and mature or what not. Does this make sense to you?