Episode 054 – Maria Giordano Teaches NegotiationsJul 19, 2021
This week Michelle’s guest is the fabulous, Maria Giordano. Maria is teaching us all about Negotiations and she is absolutely the “go to” person on that. She’s done hundreds of deals and continues to hone her skills daily. There’s no better teacher in our book!
Go to Maria's Website:
Here is a link to the Ninja Negotiations Course that Maria sells. Usually, it's $497 but she's knocking off $200 for you.I think people really need this to get them to the next level.
Transcript of this Episode:
Hi, it's Michelle, the master of money mindset, and you are listening to BNB dash boss podcast and in today's podcast, my very good friend, Maria Giordano is going to teach you all about negotiations.
Maria is excellent and negotiations and it's something I love to watch her do too, is give her presentations on negotiations is my absolute favorite part of her presentation because she's so darn good. She's so good. And so I'm so excited that she said yes, and we get to share this with. I wanted to give you a quick introduction about Maria.
If you've never heard of her or seen her on good morning America or the TV and the news and all the places that she's been. But in a former life, Maria was a trauma nurse for a Scottsdale healthcare working days, nights, weekends, holidays. She never saw too much of her family. And she had been a divorced single mom.
Her oldest is disabled and Maria knows all too well, what it's like to have more month than money. So she learned early about real estate because her dad was into real estate a little bit. So once she remarried and found Gary also a good friend of mine, they started investing in real estate together.
Maria was able to replace her income as a trauma nurse in less than 45 days. They had made over a half million dollars in their first six months investing in real estate. So now together they created a multimillion dollar real estate business using exclusively other people's money. They have nothing but investors and it's amazing.
She's done amazing. And now she's got courses and everything else, but she's done just about every deal you can imagine, fix and flip Airbnb landlording financing, special build short sales run to own. Her favorite is creative deal structuring. And therefore she is so good at negotiating because she just creates things out of space and makes it real through subject twos and options and wrap around.
So she's tried it all and she's authored four books on real estate. She's been interviewed by many news articles and websites, including Realty, track investors, business daily, the wall street. And she's been featured on ABC's Nightline and good morning America. And that's just to name a few. Maria is passionate about helping people learn to invest in real estate, using little to no money of their own creating an investment portfolio, which allows you to create the life of your dreams.
A life on your own terms. Please welcome Maria Giordano. Well welcome Maria Jera donno. How are you today? Doing fantastic. How are you? I'm doing great. I'm super excited about your negotiation skills. I know that as soon as I decided that I wanted to do a summit regarding, uh, building your property portfolios and cookie, cuttering it.
I was like, you know, somebody got to talk about negotiations. It's like one of the most important things. And you are the first one that came to mind because I've always loved you. And to go Jason's you are so good at this. And so I really appreciate you coming on and taking the time to do this, because I know that you are a busy person.
I just love negotiations and it's funny cause I didn't always love negotiations. I used to hate it. Oh my gosh. Yeah. Natural. When I, when I listened to you and even when I've been with you, just listening to you, how you deal with your children and you, you know, you slide things in there and I'm like, there she is.
That's the negotiation. I know that one. And it's amazing how from a community, all negotiations really as is communications. And when you think of it as communications, it's like, well, we do that every day. When you put the word negotiations in there, it sounds intimidating. Right? And the thing about negotiations and being at that, it's just communications is you can actually foster better relationships with your kids, with your spouse, with, you know, people you work with every day and most important.
In getting better profits when you're talking to motivated sellers or landlords, because right now there's a lot of motivated landlords. Exactly. And you're, we've so much money on the table. If you just take things, you know, as they're written, like people just walk in and sign a lease and they don't question it or ask for anything or offer anything.
I mean, because we have a lot to offer, you know, when we go in there, we're saying we can pay for your insurance because we have to have a specific kind of insurance that they don't know about. So it's a benefit to them. We have a lot to give them and they don't realize that there's that giving and taking thing.
And so I wanted to, yeah, so I'm like, okay, I go, I'm gonna let you handle this. So I'm going to turn the screen over to you. And I'm going to stand here and watch you may or may not see me, but I'm standing by if you need it. And, uh, Rhea, tell us all about your negotiations. Let me just give you a quick little thing about being where I'm coming from, um, which will help, honestly, you guys understand why I'm such a huge lover in real estate, and it wasn't always that way, way, um, kind of like Michelle, it was brought up to believe in that American dream kind of thing.
And you know, Michelle came from Illinois. I was just a little north of that in Wisconsin. And from the time I was a little girl, you know, my parents were like, you know, you got to work real hard, you to get good grades. I did not get good grades in high school. Um, I actually had a learning disability within the basement of kind of a inner city school.
It was right on the outside of the inner city, Milwaukee, where they put us with learning disabilities in the basement. And in high school, my guidance counselor told me I'd never amount to anything. Great career she chose. Yeah. But my parents had said what the American dream that they brought us up to believe in is, Hey, once you get out high school, you're going to do one of two things.
Either. You're going to go into the trades or you're going to go to college. Well, like Illinois, Wisconsin has this little problem. It's cold winter. And my parents moved us north to port Washington, Wisconsin on lake Michigan. And this is winter in Fort Washington, Wisconsin, minus 20 degrees, windshield factors.
So my dad, as an electrician was always bundling up and working outdoors in the winter time. And I thought, heck no, I don't want to do that. So instead this little girl decided I was just going to work really, really hard and go to college and I became a registered nurse. Well, the American dream is, Hey, you're, you're going to be able to, you know, you're going to do all these things.
You're going to be able to provide for your family and going to have a house. You have 2.5 children, all that kind of stuff. And being able to go on vacations and you know, not have to worry about your financials. Well, it wasn't until I wasn't a divorced single mom that I realized, Hey, that American dream that I was brought up to believe in is kind of flawed here.
Instead of being able to provide for my family, all of a sudden, you know, I ended up divorced at once to twice. I ended up laid off. People don't think that nurses get laid off, but thanks to even COVID the hospitals aren't able to do all the elected prestigious. I know tons of nurses that have been laid off.
I got laid off way back in the, in the two thousands earlier two thousands. And certainly I can't provide for my kids. I couldn't provide winter coats in the middle of winter. I ended up on public assistance, women, infant, and children. And I'm like, wait a minute, this isn't supposed to happen. I got a college degree.
You know, it seemed like, you know, Workman there that's supposed to be getting laid off. So what I realized real quick is even with having two ex-husbands, neither one could pay their child support. So I had no money coming in and I saw how people who had rental properties or were flipping houses were still making money.
And I thought, you know what, that's what I want. I want to be able to have a house that I can do so many different things and feed my kids and not worry about money. And so I started investing in real estate in less than 45 days from picking up my first property. I flipped it and made it. Almost my entire annual salary as a registered nurse, but just prior to that, my real first property is, was an Airbnb.
Um, back and forth. Airbnb was a thing, you know, this is going back over a decade ago and what my husband, my new husband and I at the time realized was we could make almost all of our, all of our expenses in three months from Airbnb in it. And the rest of the year with this gravy, you know, the other nine months was gravy.
And what it came down to was really like three things. One of which I want to cover with you guys today. First it's your marketing. You've got a market. And while we're not going to get into that, if you're not out there marketing, how are you going to make offers if you don't have people coming to you?
So the first thing you gotta do is create that money marketing tree. And the first tip I'm going to give you is pick three strategies to market, to find not just motivated sellers, but motivated landlords, because that right now is key to your business. It's not about paying cash and having sellers in distress properties.
Let me tell you, there's a lot of motivated landlords for right now. And there's a lot of areas in this country that actually most areas where ones have gone down, especially around major cities, major vacation spots, rents are going down. So those are perfect markets to be finding your, your motivated landlords and making deals.
The second thing is going to be your negotiations, but you've got to have the right negotiation strategies. And here's the thing. All negotiations is this. It's that simple and like any Oscars, I mean, you just have Oscars, Grammy, any of those award-winning actors and actresses, what is the one thing they have that you can't it's that script, but here's the thing is the best performances are the ones that come from their heart, where they kind of go off script on their own.
They go rogue or whatever. And that's what you need to give yourself permission to do with your communications or what you're going to go strategy. So I'm going to teach you three techniques today. And then of course the third thing is getting creative with your deal structuring. And by that, I mean, it's not just about being a one trick pony and making all cash offers.
It's about how you negotiate rent to owns with those landlords, how you rent it, uh, negotiate. Hey, Mr. Landlord, are you tired of every year having a turn over that property? What if I could give you a two year or a five-year lease on this property? So it's coming up with creatives or buying the property subject tos or with reps, which are all different strategies that require very little to none of your own money to do it.
So today I want to talk to you about ninja negotiations. I also like to call it rockstar negotiations, but I want you to be able to negotiate like a Jedi master. Now, I believe in getting credit where credit is due, and these are the guys. Some of you may recognize some of them. These are like, I consider the forefathers of creative deal, structuring and negotiating.
And you might just need a real estate support group. If you plan your C-section around alleges of real estate. And that's pretty much what my husband, Gary and I did. This is my little guy, Marco, six years ago. I'm the lap of gyming APR here. Jimmy Napier, who covers this all died a couple of years ago.
Fantastic negotiator. He taught me a lot of what I know today about negotiations next to him is Pete. Fortunately, on the other side to Jimmy's right or your left would be dykes bother furthers John's job. Know these are all great, great guys that I learned a lot of what I'm going to be teaching you about today.
I've also learned from being in masterminds like Chris Voss, uh, Jim camp, all those different guys have added so much to my negotiating tool. So here's the thing in business. You don't get what you deserve. You get what you negotiate. And I want you to write that down. If you've ever been negotiating with a seller or with a lamp.
And you can't believe that they went with a different person who maybe wasn't giving them the best deal. Well, why did they go with that person? Chances are, it was how they communicate, how they built the rapport, how they mesh with that seller. And some of you guys kind of come in kind of hot and heavy and slick, or you're afraid to ask the tough questions.
And that's what we're going to talk about. You see the problem that you guys have is as many of you think negotiations feels intimidating. There's a lack of knowledge, skill, or experience you may have. Well, remember the 10,000 hour rule, this doesn't take that. This just takes a few hours a week.
Negotiate everything, the tools I'm going to teach you to have the perfect training ground in your significant other, your spouse, your children, your yeah, children, your family, and friends, your boss at work. You can use these and go in. If you're working in one, a raise, go negotiate more money from your mother.
Fear of rejection or fear of feeling unworthiness. That's really important. A lot of people don't want to ask the hard questions because what if they say no? Well, here's something for you. What if they say yes. So think about that fear of rejection. Isn't a bad thing, or a hat being rejected. Isn't a bad thing because it's going to help you find out what the seller's needs really are, or you don't want to take advantage of others.
This is a frequent concern that I get from a lot of my coaching students is they feel like they're taking advantage of the person, not the situation. And here's the thing is negotiations gives you the opportunity to help others to help more people. Many of these guys, like these landlords that I deal with.
They can't sleep at night. You, they have bad tenants. Non-paying tenants, they're afraid of their next tenant that they're gonna get. They're afraid of another turnover. That's keeping them up at night. Are you taking advantage of them? I don't think so. You're actually helping them out. And here's the opportunity.
This is all a 100% transferable skills skills can be learned. They don't require any special technique or talent and you can use it in all facets of your life and your business, which is really important. You can use these. As I was telling Michelle earlier to foster better relationships with your families, with your friends, with your teenagers, some of the stuff I'm going to teach you today, believe it or not.
I have a 15 year old son, and this has brought us closer together using this broken through some of that teenage angst and moodiness. And that also helps you when dealing with a difficult landlord or seller. So there's more opportunities to close more deals, and sometimes it's more about your terms and not gain all cashed.
Every seller, every landlord is going to think they want all cash. But as I found out in most situations, that is not their issue. At least not, excuse me, the truly motivated landlord or seller. And again, bringing you a closer relationship with your seller. You listen more when you negotiate and that will be to getting referrals.
I've always asked potential sellers. Is there anybody else who you think could use my services or we'll find this of use? So today we're going to go into three things. The first strategy is going to be starting with no, the second one we're going to go over is labeling the emotions, which is very important.
This is kiosk. So for you, with your own relationships or communications with their kids, And the third strategy is extreme anchors. So first I want to talk about starting with no, and this is something that sounds really counter intuitive. In fact, most people, when I ask them, um, you know, why are you going to talk to a landlord?
Why are you going to talk with the seller? Is it because you want them to say no to you? Of course not. But the problem is, is you're going in there. So thinking of the end game. So thinking about that yes. That when they say no to you, it shuts you down. When in fact, no is just the beginning of the negotiation.
So the thing you need to do. It's forget all about. Yes. I know that starts sounds so counterintuitive, but you need to forget. Yes. In fact, you need to start with now you need to become the nomad. No,
that is who you need to be now to see you don't realize this a yes can actually be negative. It can be the seductress. And for those of you who don't know who this is, this is Marilyn Monroe. She was buried, concerned this abductor. So you start thinking about, Ooh, what am I getting into too? Is this yes.
Going to get me into trouble? Think about back when you were maybe 16, just getting your driver's license or if you had kids and they've gotten their driver's license, what's the first thing you want when you come home with that license to freedom. Do you want the keys to the kingdom, right? You want to be able to go out and show off to your friends, to your family, you know, go hang out with the guys or the gals or whatever, but Hey, look at me.
So the first thing any kid does is they go to mom and dad. Hey mom and dad, can I have the keys? Can I go take the car? Well as a parent, what are you thinking? No, you don't want to say yes. Well, when you tell a little Jimmy, no. Does he go and say, okay, mom, dad, I'll catch you later. Now Jimmy is doubling down baby.
He is in Vegas and he is going all in a mom and dad because every teenager, no heck every two-year-old knows. Y Y Y if I can just overcome each and every one of mom and dad's objections, what else is there left to say? But yes, because when you're saying no, You're thinking you're saving your kid when you're saying yes, you're thinking, oh my God, are they going to be speeding?
Are they going to be horsing around with their friends? Or their friends are going to be in the back seat and skirting off. If I can say that they're going to be texting all this stuff. So all growth lead, literally to death, wrapping them around the telephone pole or whatever. So when you say, do you know Jimmy, Hey, you're going to be texting.
Jimmy can say, Hey mom, there's an app for that. I'll download it. I'm not allowed to text one driving. You're going to be speeding bomb. There's an app for that. You'll be alerted if I go one mile over the speed limit. So they're overcoming every one of your objections. So you don't want it to feel like, oh my God, what am I committing to?
What am I getting in trouble for here? So the other thing is, yes, can seduce you into complacency. Many of you guys who are listening to this, I know. And gals, I know that when you've gotten a yes out of celery and you're like high fiving yourself, you're thinking this is just awesome. And the problem is you've become complacent.
And the thing about, uh, your seller is they're starting to worry about what did I just commit to? This feels a little unsafe and I don't think I like that. So when you're feeling unsafe, your seller's guard goes up just like you did with your kids. You know? Um, what is this person trying to get me to commit, to ever been asked to volunteer?
And you didn't want to, like, my kids used to go to this one school in, in, uh, Tempe, Arizona, and right there around February ish was when they were starting to get ready for the full festival. Well, man, if you didn't see every parent practically doing a throw by drive by of their kid out of the car, into the parking lot, because they were so afraid of somebody coming up to them say, Hey, do you get out a couple of minutes?
You were thinking, oh my God, this isn't a couple minutes. Where are they trying to get me to commit. So the same thing happens. Think about all those times when someone's trying to force you into saying yes, and right away, you're thinking, oh, this isn't safe or it diminishes your rapport with the seller.
You don't know the person well, and they're asking you to commit to something. And in this case, you're asking them to commit to a five-year lease maybe on a house and oh, by the way, I'm going to be renting it out myself. Or, you know, you're asking them to commit to selling it on term, doing a subject to where you're going to pay them origin.
They don't know you, but what the heck is this? So asking for the yes, too soon can actually kill or diminish your credibility. Think how that pushy salesman makes you feel. You don't want to do the deal or do business with that pushy salesman that calls you on the phone, you know? And, and the first thing to ask is, Hey, Mrs.
Michelle, how's it going today? And you're thinking I'm, I don't want to say yes. Or do you have a few minutes? You're like, oh, I don't want to do that because they're going to want to right into a sales pitch. And here's the other thing. There are three types of yeses and you don't even realize this, write this down.
There's the first type, which is the counterfeit. Yes. They tell you. Yes. And they really mean no, but the whole purpose is to get you out the door out of their life and not have to deal with you again. That's the person who says, sure, I'll sign that paper. And you're like, okay, here it is. Or let me come back tomorrow.
I'll I'll have the contract cracked for you. And then it's like, crickets, you don't hear it. Or maybe you have a contract with you. You'd get them to sign it. And all of a sudden they're calling a title and demanding it to be canceled because they're feeling like they were bamboozled or whatever, because you didn't answer all their objections, then there's that confirmation.
Yes. It's the sky is blue. The grass is green. Is it raining or isn't it? It's that kind of, but the only yes, that you want from your seller is that commitment. Yes. It's the hell. Yes. I want to do business with you. Thank you. I can sleep again. And I get those cards from seller where they've or emails where they've sent me as a, oh my gosh.
You have changed my faith in humanity. I can finally sleep again. That is the commitment you want. So I want to talk to you about is no based negotiation. No gets you past emotional issues and the trivial issues to the essential issues what's going on now. What really matters. So you need to start with what I like to call no answer questions.
So there's a rule to these questions. The answer must be no. And the no must favor you. So is now a bad time for you? No, this is a great time. See how that is. That no favors you is now a bad time for you and they say, yes, it's a terrible time. Then you can come back and say, okay, would 5:00 PM tonight be better or nine o'clock tomorrow morning.
So you can still give them an a or B choice. Another great question. I want you to write down is, is it ridiculous if I asked you why you want all cash? Is it ridiculous if I asked you why you would object to having a five-year lease or just asking them, you know, would you have any objections to a five-year lease if they say, well, I don't know.
It seems like an awful long time. You can do another strategy that we haven't talked about yet called mirroring where you just say a long time and then you use silence. Silence is very important. Problem is most of you guys, you ask a question and you're nervous and you become the chatty Cathy's of the world.
There used to be down in the fifties called chatty Cathy, and he used to be a chatty Cathy, and don't give the seller the opportunity or the landlord, the opportunity to answer the questions. So you ask and then you go silent. So if you ask them, would you have any objections to a five-year lease and then you start, oh, would you prefer more like a tourist?
Well, you just killed your question. You didn't give that, that landlord, the opportunity to answer what them speak count. I want you to count one, Mississippi, two Mississippi after every question all the way to 10 Mississippi. Okay. Is getting all cash. The more, most important thing for you now, my husband, Gary and I, we just dealt with a seller earlier today.
They have their heart on a certain price. It's a ridiculous for it. It's $65,000 above what everything else is going for. So cash to them is the most important thing or so they think, but we also asked them, well, what would your property rent for? Well, it would make it a great vacation rental and I could cashflow that on a lease.
So we shifted gears to a lease. So now it's like, huh, I'll say maybe cash. Isn't the most important thing. So think about that. Is it a bad idea for you to keep getting a monthly income? That is a great question. When you're dealing with landlords, I want you to ask us, so you have a landlord that's selling.
They're done. Yes. Is it a bad idea for you to keep getting a monthly income? Would you have any objections to gain cash every month and then go silent? Now here's one that I use and Gary used my husband, Gary and I had used when we are circling back to some of these sellers. And, and like I mentioned, your marketing is so important.
Part of your marketing is the follow-up most of the deals Gary and I get our after third, fourth, fifth followup. Some have even been longer than that. So recently I had a house that I thought I had a deal, and then I didn't hear back and we're kind of back and forth, whatever. I finally sent her this and said, have you given up on selling your house?
Now? She was ghosting me on the phone. So I put that in the subject line. I got a response back from her in less than two minutes. So that is an awesome, awesome question to be asking. Especially if the house hasn't sold or they haven't put it back up to find a tenant or whatever, ask them, have you given up on renting your house or your property?
So you don't have to say selling, you can say, have you given up on renting your property? That's very important to people. But the thing is, is you've got to let people know that this is not a trap because many times they feel like this is some type of a trap. So here's a property that I had done. It's a, it's a pure deal.
I call it. And when I was dealing with this guy, I made like the three offers. And you know, when there's that white elephant, they say in the room that nobody really wants to notice. Well, you kind of tackle that head on because those of you who do are going to be the ones that get the deals done. And I presented my three offers to them and he just went silent and looked at me like this, and I'm looking back at him, smiling, looking all happy.
I just, and here's the thing. Approach negotiations with a light heart. All right. It does not have to be serious. That was the thing I thought versus that hats was it make it fun that shows a lot of sellers, it makes them more comfortable dealing with you or a lot of these landlords. So I said to Mr.
Peoria deal, I said, correct me if I'm wrong, but it seems like you hate all three offers. And he's like, yes, nothing. None of it's what I want. Okay. Then I asked him, would it be ridiculous if I asked you what you do? Like I said, it seems like there's gotta be something in here that you like. So we started going step by step.
And when I do my offers, there's a specific way I follow it to lead them down the road to one, that's going to work for me. But they think they came up with it's. My hybrid offers what I call. But once I gave him permission to know, and I stopped and found out what are the real issues? See no gifts, you pass all that trivial stuff down to the meat.
What is it? They're really having an objection to in this case, the guy was set on his price and I was like, okay, I can do that. But in order for me to give you price, you know what, I need a little help. So the first offer, he liked the cash. I said, well, how much do you mean for us to make this work? I found out he had like $20,000.
Well, the second offer had a higher monthly amount. Well, he liked the higher monthly payment. Well then the third offer, I offered him the purchase price he wanted, but I told him, look, I can give you all that. But the thing I need is more time. So my husband came up with the brilliant idea of let's do a 40 year.
And we're going to do now. Can we had duration time in there? He didn't like doing a 15 year, um, payback. So we shortened it up to set ours to 12 years. From 15 to 12, we started at 30 wasn't comfortable at 15. So we went with 12 years. So we were able to do what I call, create the hybrid offer. But if I didn't accept his no, and find out what his objections work, we'd never would have come up with that.
You see most of you guys, you get a no, and you're like, ah, man, and you gather up all your stuff and you leave, you don't find out why, what didn't you like about this? What's going to work for you. So here are the main ideas with this five takeaways. I want you to get one, no allows the real issues to be identified to.
It helps you slow things down, especially when you're using science. And giving the seller or the landlord, the opportunity to speak third thing, it protects you from making a bad decision and also your seller or your landlord for making a bad decision. Something that they're not going to be able to live with.
I mean, if they really, really hate that property and they have a five-year lease with you, you may not be wanting to be in business with them for the next five years, but maybe two or three years who would have been more comfortable with slowing things down and give safety, security, and control and helps everyone to move forward.
See, here's the thing in real estate. So often we hear that wholesaling is the highest dollar per hour. That's not true. You make the majority of your profit during the negotiations, your negotiation. And I will tell you right now negotiate. Everything is going to be the highest dollar per hour. Here's one more little phrase I would want, I want you to take away.
And this is a huge phrase and it's missing so much on your cleaning fees and your maintenance, your contractors ask them every time they give you a price and use this with your sellers or your landlords, especially when you're talking about fees and monthly amounts with the leases, ask them, is that the best you can do?
And then be silent? I would say probably 99.7% of the time. I get a reduction very few times. Have I ever heard someone say yes, that is the best I can do. Even if it's like I had one guy that just took 200 bucks off, it's 200 more bucks into my pocket. So always use that phrase. Is that the best you can do, but.
It's huge. It's a game changer. Now the second strategy I want to talk to you about is labor. their emotion. This is huge when you're dealing with that emotional, um, seller or landlord, it's huge. When you're dealing with a divorce person, a probate property, it helps you to understand if they're ready or not.
As I like to use again, I'm big on these names here. These gifts help me to help you. And the only way you can do that is by labels. See labels act to act, to confirm what the seller is. Feeling labels are an effective tool in your negotiations and it gets up that's right. And not a your right. And this is key when you're talking to your family members, be it a spouse, a significant other kids, your mom and dad, if you're older like me and got parents that just still always want to be right.
Think about it. If you say your right to someone, what are you doing? You're blowing them up. But when you've got that aha moment, like when you're in church and the pastors giving a sermon, and you're saying like, that's right, that's right. Or you're watching the news and something political and you're in agreement like that's right.
That's right. That is the response you want. And see this guy, Chris Voss taught me a lot about that. I was in his mastermind in California is an awesome mastermind a few days. And that was a game changer for me. And just picking up that little nugget as they stay, helped change so much about my negotiations and get more properties into my portfolio because I was able to see things more from the seller's perspective because everybody and they've done, they do studies on everything, but one of the studies they've done is people want to be understood more than they want somebody to empathize with them.
They want to know. You understand them. If you think about your kid yelling and screaming, even a two year old, why are they doing this? Because they don't feel they're being heard. They don't feel they're being understood. That's what you need to be doing with your sellers. So labeling is one of the most powerful skills to use in negotiations.
Take your time to understand who your seller is. You say the label gently, then you go silent. So look for the that's, right? Not, uh, your right response. That's key. If you don't understand your counterpart, that seller that lent you, can't help them. And showing you understand is more important than caring.
And again, this is going to be another thing where you got to go silent. You need to listen first and you need to listen to understand versus listening to respond. That is huge. As I like to say, Tom, the schizophrenia that's going on in your head. You want the schizophrenia going on in the seller's head.
You want to create doubt in their head. You, after you ask a question, stop thinking about the next one question or the next thing you need to say. That's what the silence is for. So silence allows you to gather your thoughts. And nine times out of 10, like I said, they're going to blow right through that side and start talking.
Cause they can't handle it either. And so listen for the seller's objections. So you can overcome them, listen to understand, and then label to gain a greater understanding and test your understanding of it. So I, as I told you guys, before I was a nurse and a nurse, we have the pain measurement scale and it's anywhere from, you know, you've guys have all, probably heard of zero to 10 and a lot about pain and stuff can be non-verbal.
I used to do pediatrics and burns and stuff like that. And we used the little faces for the pain measurement. Well, you've got. To label their pain to try and understand where are they at? Are they motivated? Are they just kicking the tires, seen what's out there? Or, oh my God, this is a 10 out of 10. This hurts.
I can't sleep at night. I'm throwing up. It's bothering me so much. So do I need a label? The answer is of course, yes. A label is an intentionally designed verbal observation. It's used to reduce or diffuse the negative emotions. A seller may have. I don't know if you've heard of this or not, but how many more times powerful is a negative than a positive.
Think about that. They, again, they've done studies. I love analyze and stuff. I'm a data nerd geek, but a negative has three to nine times the impact on a person's thinking then a positive. That is huge. So labels are used to reinforce positives or the things that you are that are working for you in your negotiation.
You need to overcome those negatives. You guys want to overcome that landlord, having all this baggage, this negative baggage about renting a property to someone who wants to run an Airbnb who wants to co-host or do any of that stuff out of there? Well, why not label it say something like, it seems like you've had a bad experience.
Give them an opportunity to vent that. And that's how you're going to start overcoming this. So how do you do this? The importance of a label is it gives the seller the opportunity to correct you and lets them know you understand. So there's three components of it. And again, remember I said, everybody wants to be understood and you need to understand where is he coming from?
So people are visual. Auditory or kinesthetic. So those are the three primary ways people processes it. So you need to go see, hear, feel, see visual here, auditory, and then feel as that kinesthetic. So it looks like, it sounds like it feels, or it seems like those are the three roots really for, I guess it feels in, it seems like that you have to write down right now or take a picture of this and have ingrained in your negotiations.
Put that on your cheat sheet. All my coaching students, when they go into talk to a seller, they put down, it looks like, it sounds like it seems or feels like, so how do you use it? It seems like you have a number in your head. I just used this earlier today on a woman who wouldn't tell me what she had.
And I said, well, it really seems like you've have a number in mind. And then I was silent. Boom. She came up with 230, 5,000 out. No, I almost had a heart attack because that's like $60,000 higher than anything else out there. But at least it helps me to understand where she's coming from. So it sounds like this is very frustrating.
That is an awesome one to do with someone who's divorced. Did you use with a landlord? Who's just had to evict somebody or their tenant moved out and the property is trashed again, or they can't retain one and they're turning it over year after year. And another thing that sounds like you're spending a lot of money turning this property over again, let them vent that it looks like you've been through quite a lot.
That's also great to use on probate properties. When you know, there's always that responsible, a child that's in that has to deal with all the other siblings on getting rid of all bugs stuff in the property and still paying the taxes, the utilities, all that stuff. And everybody else just wants the money.
So when you say it looks like you've been through quite a lot, or it sounds like you're trying to be honest. I use that when somebody is telling me all the things that they've done with the property, gosh, I really appreciate what you've done. It sounds like you're trying to be honest. All of a sudden they'll stop.
They'll think about, and then they come up with all this other stuff that's been wrong or whatever, with the property, because I told them, Hey, you're an honest person. I appreciate. So they want to make sure they're an honest person. The other thing you need to do is what I like to call the accusations on it.
I use it to overcome negative objection. So use this, when there seems to be other underlying issues, what are, I'm having an accusations audit on myself? I'll say it seems like you're worried. I won't pay you. This is a great one. When you're doing a seller financed property or owner finance, as it's also called, it sounds like you don't think I can close.
That is a big one. I'm hearing when you're offering somebody maybe more money or maybe you say, it sounds like you're afraid I'm not going to pay my rent every month. And they said, yeah, those were well, you could do, what if I paid you six months in advance? Now, some of your other things, oh, I don't have six months to pay.
Well, what do you have? What assurance can you give? Or maybe you can ask them after that question they confirm. Yeah, I really am. I'm worried about you not paying, you're going to get into this list. And while you can say. I'm running a business, I'm going to have this property furnished. I'm going to have, you know, people I'm responsible to, I'm going to, you don't get bad reviews.
If I don't do exactly what I say I'm going to do, what would it take to make you feel more confident? Ask them that, put it back on them. Um, it feels like you don't think I'm being fair with you. That's another thing. All you're going to make all this money on my property. The other things by doing these accusations audits that people don't realize or forget about is many times they're embarrassed.
And so they deny it well, they're denying their own feelings. So now they've pushed away. So it's no longer an issue. They suppressed that. And that's very important. So it seems like you're not a fan of investors. It seems like you're not a fan of Airbnb owners or of cohost or whatever it is you're trying to do to the property.
And again, be silent. You're doing the accusations. You're doing the heavy lifting, give them their part to respond. It sounds like there's nothing I can say to get you to change your mind. This also helps know, Hey, if there's a deal there, time to show, if not, move on, you're spinning your wheels. There's other efficiency.
It sounds like it is important to you to quickly get full price, you know, get maximum amount of rent, get a bigger deposit. What is it that's important to that landlord or that seller that you have deemed from your conversation? Another one I like to use this. This is going to sound harsh. And then I pause.
But I can't give you nearly what you want. In fact, you're going to hate me, or I'll say this is going to sound harsh, but I'm going to need to completely repaint this whole house or I'm going to need to do this. So it gets your point across, uh, what you need to do to maximize this property as an Airbnb, as a short term rental.
So that's very important. So this is your chance to let them know, Hey, you know, you've got a property, but this is what I have to do with that. And you're not going to like it. And you're also, and this will lead into the next section angry, but it also is preparing that seller, which is very important. So here are your five takeaways, use labels to build rapport and diminish the seller's objections.
It helps you to close more deals and make more money label the positive and the negative emotions to overcome the seller's objections, putting a label on every emotion is key. So like when my son comes home from school and he's moody or whatever, I'll say, God, it looks like you've had an awful day by saying that to my 15 year old son, all of a sudden he's like, oh mom, you're not such a nasty mom.
You care. So it's showing you care. So when you tell that, so gosh, it looks like you've been through so much, or it sounds like this has been horrible for you. Oh, I can't imagine these tenants you've been dealing with. It shows some humility, something Manatee, and they can relate to you. And then listen for the that's right from them, not your right.
You can tell, Hey, this property is great, but you need to do this, this and this. And they're like, yeah, you're right. But in their mind, they're thinking, oh, this person's full of crap. Next I'm done. I don't need some coming to my house and telling me everything that's wrong with it because I've lived here for 50 years.
I love it the way it is with that 1960 shag carpet and the pink bathroom. So don't even go there, but they're going to say you're right. Which again means you're wrong. So the third strategy I want to talk with you guys about is extreme anchors. Another game changer. I'm giving you my, my three favorite strategies.
So you use it to set seller's expectations and you set up for owner financing or a lower offer or doing, you know, sandwich leases, collaborative leases, cohost, all of that kind of stuff with this type of strategy or just straight leasing it from them, the property that is it resets the other side's perception or expectations and moves the negotiation to the mid point.
How you can offer less and get the seller to take it without ruining your report or seemingly like a greedy, nasty money, hungry investor, and saying an extreme, low anchor is like having your sell a watch their visions or expectations disappear in front of their eyes, but you're doing it in a way that they're prepared for it.
So they're like, okay, you're right. That's not what I want. Or that's, wasn't what I was expecting. So here's how you set it up. Most investors, probably 93% of you there on here, you get this wrong. And that's why you fail to close more deals. Most of you are one trick ponies. First, you must anchor your seller.
Emotionally. We talked about that, then let the seller know just how bad your offer is going to be. So what type of properties does it work on? All properties, every property you see out there, this works on it. Doesn't matter if it's commercial and apartment building a little cottage, condo, a townhouse, a piece of land, it works on all properties.
First thing you have to do is create curiosity. What happens when you deny somebody, what they want or what happens when you tell somebody I'm not going to tell you something. Everybody wants to know. Also it's how you bend people's reality, Michelle. I thought you'd like this, Dr. Strange, how you bend people's reality.
You're going to emotionally anchored to how bad your offer is going to be. And when done, right, the seller is expecting your offer to be far worse than what it actually is. You did additional benefit to this is it helps to prevent you from going straight yeah. To your maximum offer. So if the message, some of them you can offer a landlord on a property per month is $1,500 and you don't set it up properly and you end up right at your $1,500 from the get go.
You've taken away all your negotiations. Same with if you're doing a seller finance or a low cash. One. The other thing is, is that when you seem, huh? Um, more reasonable people want to do business with you. You're retaining that rapport and that relationship. So you seem more reasonable when you're presenting your real offer by anchoring them.
And you have plenty of room to negotiate on price terms or something else. Maybe it's the years of the lease. Maybe it repairs. Um, maybe you say, Hey look, the first $200 or $500 out of all repairs, you take care of I'll take care of anything higher than that, meaning, Hey, that roof has tenures, but it should have storm goes through.
They don't realize the insurance is going to cover that, but you're going to pay maybe that $500 deductible, same with that AC, or maybe you do the reverse anything below $500 or $200. You're going to take care of anything above that, because maybe it's a newer property they take care of. So again, there's always different ways you can negotiate, but it all comes down to you seeing more reasonable.
And, and this was something I learned really from the get go when I had to do I have a picture of, I think I do Don and invasively. They were one of my first seller finance thing. And you see, they responded to me on a marketing liar, very similar to the one I still use. I tweaked it it's way better than it was before, but she was an income worked for a real estate.
Brokerage had investment properties. She responded on one of my letters. Same thing. What a lot of us are dealing with right now was the time in the market where she had a tenant in that property for like 15 or 16 years, always paid great tenant, never heard from them. They maintain their property though.
She was afraid of what her next tenant was going to be, but she was used to getting that mailbox money in every month. And that is key with these landlords. They're used to that mailbox money coming in every month. So when I went to and I did all my comms, you guys have to do your comms, know your rent rates, all of that stuff in there and be iron club.
You very, very sure. Not swags. And while that's guess on what you're going to get for an Airbnb or a short-term rental. No, your numbers. That's a whole nother course, but do your homework drive around, ask the questions. Just like I have in my call sheet, ask the questions. When I was driving up to Faye's house, what did I see?
But Don, up out of a six foot ladder, now the house had just been painted. She told me everything. They didn't do. It was moving ready. According her just needed some carpet, whatever. And as I'm driving up, I see her husband up on one rung down from the top. Well, that's a six foot step ladder over the driveway for carelessly painting the trim over the garage.
Now it didn't need to be painted, but that was phases way done, needed to tinker. He always wanted, he was retired. He was like 75 years old. It gave him something to do we'll face day and they're yelling at him cause she's steamed done fallen on off the ladder, hitting the pavement and breaking a hip and dying.
Remember negative. We are three to nine times negative. So once I realized what was going on, I'm like, oh, this is the issue. This is why she wants to get rid of it. She's afraid of her next tenant. And she's afraid of her husband dying, caring for these properties. So as I sat down with that, I found out that what she really wanted for the property was about $175,000, which was, you know, market value on the property is right around 200.
And there's just one person. I didn't have $125,000, but the property would cashflow for around $1,200 per month or rent for, excuse me. So, as I'm sitting down with Faye, I'm telling you, I went through the property and sure enough, it did not need much. He hadn't put the carpet in yet. She painted everything white because in, in phase landlord land, everything's white.
Um, it didn't have any ceiling fans and you need to change those up just for like an Airbnb or short-term rental, minor little changes and mommy, maybe 5,000, $6,000. But when you do what makes all the difference in the world? So as I'm sitting down with Faye, I asked her, I said, what are you asking for the property?
She says $175,000. Huh? What seems like price is really important to you? Would you mind if I asked you, how did you come up with that number again? Got to find out. Well, that's when I found out she was an accountant and then a brokerage and had all these properties and what. So then of course she turns to me and she's like, so what are you going to offer me?
And I'm like, Fe, you're going to hate me. I can't give you nearly what you want. I don't even want to tell you because you're going to throw me out. I mean, you're going to be mad at me and you're going to yell. Well, here I am, again, creating curiosity, telling her I can't give you what you want. So what was the next thing faded?
Oh no, no. Just tell me, I said Fe, it's so low. I'm embarrassed to tell you. She's like, no, I promise. I said, okay, well you got to promise me a couple of things. You're not going to yell at me. You're not going to get mad at me and you're not going to throw me out. You're ridiculous. Okay. So I take my yellow pad, just, you know, I always, you should always be taking a yellow pen with you and I write on it $95,000 and I put it down in front of her face or it doesn't pointed down.
$95,000. That's my all cash now. How did I come up with that? Because at the time I didn't have $95,000, but I knew I could wholesale it. And if I forced that I'd be good and $95,000 on a property that was worth about 200, but I only need five Cain. Repairs is pretty darn good. So they look sad and looks at me, it looks back at, oh God, here's a county.
She's going to totally yell at me. And I want you to do, she just looks at us, huh? That's not as bad as I thought. And I'm like, are you kidding me? We are $80,000 apart. Or we've got the grand canyon between what could be worse. Well, think about when you're prepared, what for how bad something is going to be.
Your mind goes to the worst. I remember. Several years back. I got a call from vice principal at my son's high school. He transferred to a new high school. Only been a weaker school, never been in trouble before, but I get this message. Hey Maria, this is Mr. So-and-so. Please give me a call. And the principal from the vice principal at the high school.
And I'm thinking, oh my God, immediately, what did my mind go to? What has my son done? Never been in trouble before all the high school vice principal was there. It was confirming that my son didn't play football at the previous high school. We transferred him from because that would have been NCAA, whatever, wherever they call it in, in a high school sports violation.
Unlike same with Faye. I prepared her for how awful my offer was going to be told her how I didn't want to give it to her. So her mind went way more negative. So when you prepare somebody, they're not going to get mad when you just go and give them a low bar. Cool. It smacks them upside the head and you're insulting them.
Of course they don't want to give it to you. So when you prepare them, that was how I was able to come up with a seller finance offer where I bought the property for 175, but for $150,000 gave her a little bit down because remember downpayment solve problems and then $500 per month at property cashflow, $700 every month, I could have Airbnb that probably made three to four times that I've done the same thing with, um, rentals, where I've worked with a landlord and I've got a lease with an option to purchase, you know, and I'm telling them, I say, look, I can't give you anywhere near what you want for rent.
Maybe it's a property that they want a thousand dollars. If I can give them 800. But what I can do for you is you'd never going to get a call from me. You're never going to care about a backed up toilet. You're never going to be sitting down on Christmas and find out that the plumbing broke or on Thanksgiving because the tenant poured a whole bunch of Turkey, fat and potato peels down there.
That's not going to happen with me. So you're having ways to negotiate with them by starting with anchoring them to how bad it's going to be. But then you'll lift them up by telling them what you can do for them. So here's the thing. Most of you guys have limiting beliefs, mindset matters. And this is why we don't leave you with you think I'm a newbie investor.
I can't do this. That doesn't, won't work with that. And doesn't work until you've actually tried. And you're like, oh, this can be done. It's like, really can be done. You think they're going to throw me out? So tell them, you're going to throw me out. You're going to hate me. Again, that white elephant say it don't tip toe around it.
I can't give a low-ball offer. Yes. When you anchor them, when you prepare them, you can give them a low ball rent. You can say, look, I can't give you $1,500 per month, but I can give you a thousand and I can give you $2,000, you know, fee or whatever you want to call option, fee or deposit. However you want to work.
It there's so many different ways that I can give you a guaranteed rate of return for the next three years. That is security. Remember we're living in uncertain times. You give a landlord certainty and security. You're gonna own them. They're going to love you. That is so key. The seller will yell at me.
I've never had a seller yell at me and I've been doing this for well over a decade. So the main points, the four takeaways for you guys, seven ended up by anchoring the seller's emotions, tell them how bad your offer's going to be, get their curiosity, which gets them begging you. Now, everybody wants to know the secret and then bend the reality by getting them expecting something way worse than your actual offer is.
I know we have some of you on there that are fixing flippers or wholesalers. You need to be doing this guarantee. You're going to get a lot more offers, accepted and way, way lower prices. And then you start to seem more reasonable. Give yourself plenty of room to negotiate. What I like to say is it built like science, but negotiations feel like magic, and that is huge for you.
It's all the science, just communicating with people and getting comfortable. So when you can do that, You, you can put it, all these things to get, but you've got to take action and you must negotiate practice every day with your family. Remember, practice makes you more comfortable. Practice makes you seem like you've been doing this forever and it gives you the confidence.
You need to make those lower offers with the seller, get those terms with the landlord and help more people because that's really what this business is all about, helping us to help them. And then we all make money. When you help enough people, you do more and more deals and word gets around. So I hope you guys found this mentally helpful.
So take action practice and put it into work. Yes. Yay. I love that. I love how you, you implement every one of these negotiations. I think I've heard a story that you've done. So I know I can, like, I can picture all this stuff and I can picture you telling her, oh, you're going to hate me. And you're like, cause that's all I had.
And it's funny because a lot of times we think in our head, we already know what they're going to say. You don't know what they're going to say. No, you really don't. And when you go in there with that, you tend not to take any action or attend to, to make the wrong decisions. And they're like, oh, they're, they're never going to, you know, you're like the little Moby guy, well, never may get that's the thing is you never know what I mean.
They're not going to come out and say, oh my God, my bank account has run dry. I can't make these repairs. And I love getting cash every month, but I can't stand it. Yeah. I mean, and here to tell you their fears until you find out exactly, like you said, when you were telling this story. I mean, literally I wrote a little book and my students use that book.
I'm like plagiarize the crap out of it, use it because in the book it says here, here I am a landlord. Again, walking into my property again, at the end of a lease, having to redo everything, they've messed up. All the blinds I have to repaint. The flooring is a mess. I'm going to have to either re carpet or tile.
And it seems like you, you made so little money every single month and you just made it. And at the end, you're going to be out, you know, two to five grand every time that somebody moves out. And it felt like so many steps forward, but a hundred steps back as a landlord. And so we don't see that, especially if people are new investors or new Airbnb beers and they're wanting to do rental arbitrary.
They think that landlords are these, you know, like money is falling out of their pocket. And you're like, unfortunately, that's, that's the, the image that society give either their, you know, this, this money hoarding money, grubbing landlords, or they're a slumlord, but still money grabbing and making all this money.
One turnover, not renewing that could eat up the entire age years for some of these lines. And that is another thing you need to ask them. If they're say, gosh, it seems like this is awful turning these over every year and let them go off say, oh my God. And then just ask him, how much does that cost you or, wow.
That sounds like it costs you a lot. And wait for them to respond because your ingraining, those numbers now in their head, and they're like, oh, it's not too bad. Then you can say really? Because I know from being a landlord, well, I, if I got to paint the place, it's about $1,500 and I got to clean it.
That's $500. Oh, time of, for lost rent and blue. And then all of a sudden you're like, oh God, every time I have to, it's like three to 5,000 that you must be way better than I am. Yeah. And stuff. And like you said, too, when you can say things like that sounds frustrating. And they're like, oh, they get me because it is, it's so incredibly frustrating.
And, you know, just simply going along and telling them to be honest with people, just like you said, you're going to be angry with me because that was the best offer you could. You know, you weren't lying. That was the best you had. You're like, I don't even it, but I know that I can do this, you know, but you're like, I love, I love the way you negotiate.
I really, really do. And I, I hope that everybody takes this and plays it over and over and over again, until you get it into your head, that this is where the money lies. You do not make money on your properties when you're renting them out, or when you're selling them, the money is made in the negotiation table.
It is made when you buy, when you rent, when you are making the deal, because you are now determining your amount of profit each and every. Each and every month. Absolutely. And, and, and again, it's like, I had a student who is, um, doing short-term rentals as well. He's in a market and I'll just say in misery, and there isn't many cleaning places or he, and he lives further away.
So he needs basically a company to go in there and manage that thing. Well, there, they wanted over 20% and I asked him, I said, Hey, well, that's a lot of money for what they're doing. You need to go back and say, Hey, is that the best you can do? He negotiated 5% knocked off. There you go. So even your huge difference, think about that seems normal.
It's an incredible that people don't negotiate more. I think they're afraid to, or, you know, in this country. I mean somewhere in our late teens to early twenties, it's like, we're almost taught or given that misperception, that negotiations is rude or it's, you know, that's something poor people do. Or, you know, when you get to negotiate, it's so much fun.
And I have to give my first husband a little bit of credit because he grew up in south America, negotiate everything. So one time we're up here one, and there's a lamp that I want and we're poor. They were newly married having a baby, all this stuff I'm in college. It's like, I want this lamp. It's really pretty sad, pure one, 100 bucks back then, as silly as it sounds, that was a lot of money to me.
He starts to go Shane with the store manager is like, oh, there's a little piece of dirt, 50% off. And then I was like, you can do that. Yup. Oh my God. Fantastic. Thanks so much for this. Thank you so much for taking the time to teach your negotiations because negotiations, like I said, it, it is so crucial, especially when you're getting started.
And like you said, the landlords are struggling out there to get somebody in there. Who's actually going to pay them rent each and every month and take care of their properties too. Meaning that, and that's a huge benefit because people realize that these landlords are used to getting the properties back in shitty condition, spending, you know, hundreds, if not thousands of dollars to rerent them.
And you're, you're offering him a stable income. I mean, I have one of my, um, students doing a performance lease with a, with a lamp. Yeah, something that says they are going to get a percentage or you take out, you can have it where you negotiate to take out, you know, so much to pay their mortgage or something every month.
And then you guys split it very similar. In the case of, with my tenant, the level of wanting to make sure he's doing an executive kind of rental and the landlord wanted to make sure that the mortgage was going to get paid every month, but then one, a little bit more. So I said, how about this? You guarantee every month and it wasn't much like a thousand dollars.
You weren't paying the mortgage. And then anything above that, I think the landlord was going to get an extra 10 or 20 for shot whenever it's rented for after expenses. Totally good with that. So he's getting more than what it would've rented for. Doesn't have to worry about all the other crap properties can be maintained if you think about it's game frequently cleaned and everything else.
So absolutely, absolutely less wear and tear on their appliances, on their carpet and everything. I mean, people don't realize there's so many benefits to having a short term rental and a lot of your landlords too, will start to negotiate with you. If they've got more and more properties and you let's say you spend the first six months, they go buy their property and they're looking at it and they're like, holy cow, this looks amazing inside and out.
And you're like, Hey, do you want to go in? We don't have anybody in there. You send them a code. They walk around. They were like, this is great. And there's a thing. They'll call you. I got another property you want to look. And this is what I tell my students do. What are the things that your landlord is going to have an objection to?
Or what are the things that's going to worry and put yourself in their place with all the bad press on short-term rentals and Airbnb, what already works? It's looks like you're afraid of what probably most people would be if they didn't understand this business, our parties. And they're going to say, yes, I do not want a party.
Plus I don't want my house on the evening. News, trash murders, whatever. Well, this is how we overcome that. And we haven't had a problem. And if you're a new person, you can still say we haven't had a problem. Yeah. How you have the noise, um, meters and all that other kind of stuff. You can talk about how you have cameras on the outside.
Obviously not on the inside, all the other things that you're doing. So offering a meter that can measure how many phones are to the internet, how many people are in the house? Like there was a variety of tools and, and, and national associations comes in it's no is the beginning. And I can't emphasize that enough is the beginning of the discussion, not the end.
And you know, when you start doing two, three of these a week negotiations, all of a sudden, you're not afraid anymore. I mean, so many people are afraid to pick up the phone, call that landlord afraid to call that person back or whatever. Cause they're like, oh my God, what if I really want this to work?
Well, honey, it's not going to work. We'll pick it up and call one. And once you realize that, no is just the beginning. Yep. We used to have, when we were with, um, rich dad years ago, he would have us do these back and forth, you know, scripts with each other and go play back and forth. And then that was there, you know, at the events.
And then he would say, okay, now you're going to go out and you're going to find 20 people and you're going to do this again, live. And you're like, wait, why you have to do this? And he's like, and I want you to sign it off. And we're going, obviously I'm an honor code, but I want you to talk to 20 people.
And it's amazing because as you start doing it over and over and over again, It starts to just come naturally to you. You're listening to people. You don't have to memorize so much, like things just start to flow. And yeah, I mean, negotiations are the same way. What you practice. Like you said, you, you get better and better each time and you are able to listen to people more and more because the language is going to flow and they'll say something and it's going to trigger something else in your head.
And you're going to say, oh, I know what they're afraid of. And you know, it sounds to me like, you're afraid I'm not going to be able to pay the rent every month. Would it help if I could do this? You know? And th that was perfect exactly how you explained it. Because a lot of our people, I gave them six months up front just to get that lease going.
And I had no. And here is somebody who has multiple properties. That first one is the gateway. Oh yeah. It's the benchmark. And you do well on that one. All of a sudden, you're like, Opens up and landlords have friends who yup. And it's also a great way to certainly in seller financing with some of these landlords too, if you want to own the property so tired, they don't want to do this forever.
Like, look, I mean, you know, once you get to a certain age, you're like, I can't, well, the market is great right now, which it is right now, they can sell it. But in order to sell it, they're thinking, God, I gotta go in. I still gotta clean. I still gotta make repairs. I gotta do, you know, whatever we got it. Yep.
Exactly. So we'll do each unit one, the tax implications for them. You're a wow. All this for 15 years. Have you given any thought to your tax implications? What is your accountant set? You know, throw it on that and that may open it up for those of you who really would much rather be scenario BNB or at least a property keeping short-term model.
Well, thank you, Michelle. I hope this was awesome for all you guys. This was fantastic. You are perfect and dead on just as always. Beautiful. Perfect. Head-on I just love it. Boom, nail on the head. Fabulous. Give Gary a hug and my Marco a big, big hug from Ms. Michelle.
Thanks. Bye-bye so that was Maria Jera Dano, and her presentation on negotiations, which is absolutely fantastic. Next week, I am going to be kind of continuing that, but my negotiations are going to be talking to landlords. So I'm going to give you some tips and tricks on how to speak to landlords, maybe some scripts that you can use and how to build your authority kit so that you look like, you know what you're doing when you walk in there, even if it's the very first time.
So make sure that you tune in next week or the negotiating with landlords portion of this. And if you would like to see this video and you are a member, just go inside your member's portal in the bonuses. We dropped that for you. When we did the interview with Marie, right. And if you aren't a member and you want to take a look at that, we're going to replay the cookie cutter summit.
And that is in September at the beginning of September. And you can get free tickets to that by going to B and B bosses.com or bnb-boss.com. And it'll redirect you over there and just get on our mailing list and you'll be notified right away when we've got the free tickets for the summit available.
All right, thanks so much for listening. Remember to listen on Friday and we've got a best of episode waiting or you have a great week. God bless you. Go and grow.
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