Article #3 from Foreclosure Articles
by David Whisnant Editor, Real Estate Investor, and Attorney

Foreclosures:

Foreclosure Poker: When To Hold Up, And When To Fold Up

on price, I can do something else. We had reservations down at the beach for a few days next month. We have a prior commitment for the weekend we were scheduled to go. Why don’t you just take our room? It is a beautiful place. 5 stars.” (Cost to me $300. That beats $10,000 doesn’t it?!?)

Or

“While I can’t do anything on the foreclosure price, I can do something else. My friend gave me a gift certificate to Outback Steaks for $100. My wife is trying not to eat red meat, so we probably won’t use it. Would you like it? I can’t stand to see it sit unused. I’ll get it over to you tomorrow.” (If you are meeting them and you know that they are going to ask for more money, take one with you. I keep a few lying around for occasions like this).

You can save the day this way, and they NEVER (so far) will come back to ask for more after you gave up something personal. Remember, if you don’t have reservations now, you can get them easily enough by calling the beach, a resort, or a restaurant. Offer something nice that they will enjoy. It will be far cheaper than meeting their demands for more money. Make them like dealing with you. And hopefully, you’ll generate some more referrals for foreclosures down the road.

Happy foreclosure hunting! I hope that this foreclosure article has benefited you and given you some specific tools that you can use when you face this type of situation in a future foreclosure deal. If you want to be totally prepared to dominate your foreclosure competition, I invite you to check out our full real estate investing course today!


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