To Be a Successful Real Estate Investor, You Must Know How to Negotiate

To become a successful real estate investor, it's critical that you become a good negotiator. This is a lifelong learning curve, of course, but you can never go wrong by studying the negotiating process and improving your techniques.

The bottom line for successful negotiation is: get what you want by giving sellers what they want. There are some basic rules you'll want to learn--and then follow religiously--when you enter into a negotiating situation.

The first one is that you can only negotiate with someone who is actually willing to negotiate. If a seller has no real motivation to sell a piece of property, there is little that you can do to increase your position in the process. If there is nothing they particularly need, there isn't anything you can offer that will fill that need. If you run into sellers who are in this position, it may be best to simply walk away and move on to the next property.

Non-motivated sellers have dominated the real estate scene in 2005, and many homes have actually sold for above the listed prices, since there has been a glut of buyers who have bid prices up. In such a sellers market, the chances of negotiating a genuine bargain decrease. However, 2006 looks as if the market will begin to shift, especially with rising interest rates, which will lessen the number of qualified buyers and may send housing price downward.

When you're looking to fill the sellers' needs, there are several questions you'll want answers to, either from the sellers themselves or from other sources, such as real estate agents, escrow companies, or public records. For instance, you'll want to know why the sellers are selling their home at that time? There are as many reasons as there are sellers, but until you know their individual circumstances, you won't know how you can offer to help them toward their next move.

Although it will often be difficult to obtain from the sellers themselves, you can often find out what the original purchase price of the home was, which will give you a good feel for their equity position. This will give you leverage in your offering price, knowing how much the sellers will walk away with at closing.

Knowing the sellers' time deadlines can also be critical to successfully negotiating a purchase of their home. The shorter the timeline, the more leverage you'll have in putting together a successful purchase.

Its also important to determine if the sellers have gotten a profession inspection done on the home. This can be vital in getting a feel for how much repair the home will need before you'll be able to sell it at a profit. Don't guess; it can be deadly to your bottom line! However, using these negotiating techniques can put you well on your way to becoming a successful real estate investor.

Copyright Jeanette J. Fisher

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Taking Advantage of Trends: Cocooning

One of the biggest established trends on the market front today, and still gathering momentum, is cocooning - the desire to perform the majority of social and cultural interactions (working, entertaining, relaxing, etc.) from home, rather than by going outside the home. This trend was strongly reinforced by the 9/11 tragedy, as many people began to review their lives and, sometimes for the first time, consciously decide how they wanted to live them rather than just letting life happen to them and going with the flow.

This poses an obstacle for many businesses who rely on brick and mortar style storefronts and foot traffic, as well as for those in the entertainment industries who rely on people "going out" for a large part of their income. The advent of home theaters, rec-room "bars" or "cafe corners" - sometimes better stocked and appointed than local business versions - and similar cocooning-based home improvements are becoming more and more popular as people are rediscovering the delights of having friends and family over for social time as opposed to meeting them outside the home in a third-party establishment. This trend is here to stay, according to all economic markers, so what are some of the ways in which your business can take advantage of this trend rather than being diminished by it? Here are some ideas:

1. Create a "house call" option for whatever you do. Now of course this doesn't work in all fields, but you'd be surprised how many it can be extended to, given a little creativity and thought. For example, a new car dealer might consider creating an exclusive "We bring it to you!" option for pre-qualified buyers, where interested parties can submit an application online, choose the model they're interested in from an on-screen "sales lot" and have a sales person drive it to their house for the test-drive and negotiations. Where can your business create a house-call option to encourage cocooners to purchase with you?

2. Reconfigure services and other offerings to allow for in-home variations of previously outside-only availability. For example, the recent boom of home-delivered DVD rentals does just this - you pay a consistent monthly fee and keep the movies as long as you want, sending them back when you're ready to trade them in for new titles. No longer do you need to leave the house to stay home for movie night - the ultimate expression of cocooning. How can you recreate your service or product to meet your customers' desires to stay in?

3. Consider adding "companion services" that make your service or product more attractive to cocooning customers. A pizza delivery service now offers free movie rentals with a qualified purchase as part of their "specials and sales" menu. These creative combinations save customers time and money, and offer strong incentives to remain loyal. How can you partner your offering to create this sort of option for your customers? Hint: what are your customers likely to be doing or needing during or near the time they are using your service/product?

The trend of cocooning offers many challenges to traditional businesses, especially those that rely heavily on showroom sales and foot traffic income. However, with a little creative thinking, you can turn this obstacle to your benefit and pull ahead of the pack where your competitors are concerned. My advice? Stay home one day and examine all the things you do that could be improved or eased by some version of your product or services. See where you hit snags or annoyances in your goal of living, working and having a good time at home. Imagine your ideal customer at home - then do your best to keep him there.

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FA Cup Third Round - Back The Top 30 At Home

An effective strategy is to back all the top 30 teams, i.e. those in the Premiership and top 10 of the Championship, against sides from outside the top 30. This obvious approach of backing the stronger teams in the country against weaker opponents has produced a win rate in excess of 70%.

This equates to odds of approximately 2/5 and there is added value in this strategy if that average is exceeded by the coupon odds on all the top 30 teams with a home tie against opposition from outside the top 30.

In the Cup, many of the big teams are offered at much shorter odds than 2/5, so this is a high staking strategy which will appeal to the "big hitters" more than the average punter, but it is a strategy that works.

In the 2003/04 season, the top 30 sides had a total of 15 home matches against teams from outside the top 30 during the FA Cup. They were as follows:

Third Round
Millwall @ 1.91 vs Walsall. Result: 2-1
Portsmouth @ 1.32 vs Blackpool. Result: 2-1
Tottenham Hotspur @ 1.51 vs Crystal Palace. Result: 3-0
Sunderland @ 1.42 vs Hartlepool. Result: 1-0
Middlesbrough @ 1.23 vs Notts County. Result: 2-0
Ipswich @ 1.56 vs Derby County. Result: 3-0
Fulham @ 1.15 vs Cheltenham. Result: 2-1

Replays:
Bolton @ 1.36 vs Tranmere. Result: 1-2 AET
Wolves @ 1.23 vs Kidderminster. Result: 2-0
Chelsea @ 1.15 vs Watford. Result: 4-0

Fourth Round
Portsmouth @ 1.23 vs Scunthorpe. Result: 2-1
Birmingham @ 1.33 vs Milton Keynes. Result: 1-0

Fifth Round
Millwall @ 1.79 vs Burnley. Result: 1-0
Sheffield Utd @ 1.41 vs Colchester. Result: 1-0

Quarter Final
Millwall @ 1.56 vs Tranmere. Result: 0-0

As you can see, 13 of the 15 matches produced wins for the higher positioned teams with two matches ending as a draw after 90 minutes. Using the above odds as a guide and 10 level stakes, a profit of 32.40 would have been achieved using this strategy.

The figures suggest the gap between the top 30 and the rest is widening and if you don't mind backing teams at short prices, then this strategy could prove profitable for the third round this season where 10 matches have been identified as follows:

Fulham @ 1.28 vs Leyton Orient
Sunderland @ 1.28 vs Northwich
Blackburn @ 1.44 vs QPR
Chelsea @ 1.05 vs Huddersfield
Manchester City @ 1.20 vs Scunthorpe
Newcastle @ 1.12 vs Mansfield
Preston @ 1.57 vs Crewe
Sheff Utd @ 1.44 vs Colchester
Stoke @ 1.30 vs Tamworth
Wolves @ 1.72 vs Plymouth

Another way to look at this is it is rarely worth opposing the top 30 teams at home if you are looking for "shock results", as even the chances of a draw are quite slim.

League Two Betting Review

Carlisle returned to the top of League Two after thumping basement club Rushden & Diamonds 5-0 at Brunton Park. Derek Holmes put the Cumbrians ahead after 42 seconds and it was one-way traffic thereafter with two goals each from Karl Hawley and Simon Hackney. Paul Simpsons side were 8/15 favourites on the day and 4/1 to win the division outright.

Second placed Wycombe were held to a 1-1 draw at Boston. Julian Joachim gave the home side a 56th minute lead but Kevin Betsy levelled matters 15 minutes later. This was John Gormans sides seventeenth draw of the season, something noted by shrewd punters backing at 9/4.

Veteran Ian Taylors goal nine minutes from time propelled 8/15 Northampton into the third automatic promotion spot with a victory against Torquay United on Friday night.

Fifth placed Leyton Orient kept up their promotion dreams and plunged Chester into further relegation trouble with a 2-0 win. A Matthew Lockwood penalty 10 minutes before the break and Paul Connor after 72 minutes secured a 13/10 win.

Play-off chasing Peterborough chalked up their fourth win in five matches with a 2-1 victory at Notts County. Danny Crow and James Quinn put the 9/5 Posh in the driving seat before Eugene Dadi netted a late penalty for the Magpies.

Wrexham looked set to earn victory at 9/5 after on-loan Blackburn striker gave them a 2-0 lead at Mansfield, only for Richie Barker to hit back with two goals in three minutes to secure a point at Field Mill.

Stockport kept their heads above water after coming from two goals behind to draw 2-2 at Bristol Rovers. Two goals from Richard Walker looked enough for an 8/11 home win, but the Hatters fought back through Adam Le Fondre and a Mark Hughes equaliser two minutes from time.

English Soccer - England's Football League Division One Review

It would appear that Swindon Town have been keeping an eye on Football England recently, at least that's what I'm claiming anyway. Since I tipped them as most likely to stay up in the now ferocious relegation battle, they haven't put a foot wrong.

This was confirmed by another good win at home to Doncaster Rovers on Saturday.

The 2-1 victory, gives them three on the bounce on the row, and confidence seems to have been restored. Any struggling teams yet to visit the County Ground - beware.

Manager Iffy Onoura was well pleased with the latest result, and also seems optimistic of survival. Perhaps he's also in a good mood because the proposed television project featuring Big Ron has been booted into row z, early doors.

At the top, Southend reconfirmed their promotion credentials with a fine 2-0 away defeat of Yeovil, which keeps them top. Shaun Goater scored the second, and his goals could be vital in the remainder of the season.

Brentford too perhaps have been reading this column. Last week I voiced a concern that letting DJ Campbell disappear to Birmingham for a pittance could harm their promotion aspirations. Seems I'm wrong.

The Bees absolutely paggered Walsall 5-0, proving that they can score without the DJ (League one player of the month for Jan), and heaping misery on a forlorn Paul Merson. Brentford still look nicely poised, sitting 5th with games in hand. Walsall look to be in terminal decline, and Merson has hinted that he will quit if results don't improve.

Colchester continue to make us marvel at their impressive record this term. A comfortable 3-1 home win over Bradford City, after going 1-0 down racks up a club record of nine consecutive wins, and perhaps more impressively winning 19 out of 21.

Bradford went ahead through stocky veteran Dean Windass just before half time - the chunky striker is still a force to be reckoned with at this level. The game, now a tough test, was turned by the inspirational Richard Garcia who headed home twice early in the secone half. Garcia has now notched 6 in his last 4 games. A confident display was rounded off by Chris Iwelumo, also heading in just after the hour.

Colchester must now believe they can go up without the lottery of the play offs - they sit second, 1 point behind Southend, with a game in hand.

Also at the top, Barnsley have slipped in unnoticed in recent weeks, while others have floundered. A 2-0 victory over Bristol City at home this weekend lifts them into fourth spot. Much of this recent form can be attributed to striker Marc Richards, who bagged both goals, bringing his tally to 10 in the last 15 outings. His first was an exquisite finish after lobbing a defender on his approach.

Back at the bottom, a predictable dour affair between Rotherham & Hartlepool ended 0-0. Both these sides are in deep trouble and must turn the corner soon or bye bye. Hartlepool were under the instruction of Youth team coach Paul Stephenson for the first time after the much publicised turmoil at the club. Hopefully he can get them on track.

MK Dons look to be adrift without a paddle after going down 2-0 to Scunthorpe. Scunny will be glad of the points to keep them above water, thanks again to their prolific goal getter Billy Sharp. Another brace for Sharp put the game away after just 10 minutes.

As for the Dons - it looks like they are going. Will anybody miss them?

Blackpool continue to show great determination at home, and look to have what it takes to stay up. The Seasiders were very unlucky to take only the 1 point from their home meeting with Notts Forest.

A creditable 8,399 turned out for this 2-2 draw in which Blackpool were always in control, until the last minute equaliser by Forest's Julian Bennett.

Oldham Athletic tripped themselves up by going down 1-0 in an eminently winnable game at home to Port Vale. This leaves the Latics adrift by 7 points from the play off spots. Manager Ronnie Moore knows he has to improve quickly.

Finally, Chesterfield kept up their unbeaten run and their play off hopes with a late home equaliser against Gillingham. Chesterfiald lie in 7th, with the Gills out of trouble, for the moment.

The London Shopping Experience

Out of town shopping malls may well have started the decline of the traditional British high street over the last few years, and its easy to see why. However whilst London doesnt offer any of these it doesnt need to!

London literally has it all. From market stalls to the worlds biggest department stores, from inexpensive bric-a-brac to extortionately priced cutting edge fashion from the worlds top designers, everyone is catered for by Londons many and varied shopping areas.

As convenient as malls are, they dont even scratch the surface of what London is able to offer the shopper in terms of diversity and wherever you are in the city, its all just a short tube or bus ride away. With the chance of seeing some of the worlds most famous landmarks as well, the London shopping experience cannot be beaten.

Oxford Street

Britain's busiest high street and London's best known shopping area is chock-a-block full of the nation's most popular shops over 300 in fact. Many of the biggest high street names have their flagship stores here and the street also boasts the oldest record shop in the world (HMV at number 363). Also home to the world famous Selfridges department store, Oxford Street is 1 miles of shopping utopia for those that dont mind the experience being a little on the hectic side.
Nearest Tubes: Marble Arch, Bond Street, Oxford Circus, Tottenham Court Road

Knightsbridge

Knightsbridge is the home of classy fashion boutiques and quality department stores - the jewels in the crown being the absolutely fabulous Harvey Nicholls and the worlds most famous corner shop, Harrods. Big name fashion designers can be found in Sloane Street and equally chic but smaller outlets at Beauchamp Place.
Nearest Tube: Knightsbridge

Kensington High Street

Kensington offers a bit of everything to those shopping in London. It features all of the well known chain stores, plenty of one-offs, department stores (the main one being Barkers), an array of antique shops (in nearby Kensington Church Street) and numerous restaurants. Its less busy than the West End and certainly a touch classier.
Nearest Tube: High Street Kensington

Regent Street

Regent Street, running the of a mile between Oxford Circus and Piccadilly Circus, certainly provides the most visually elegant shopping experience in London as all the shops conform to the same ornate architectural style. It features department stores, fashion boutiques, restaurants and well known high street names and is also home to the worlds best known toy store, Hamleys.
Nearest Tubes: Oxford Circus, Piccadilly Circus

Bond Street

If youre looking for a London shopping experience with a touch of class and you dont mind paying for it then Bond Street is for you. Full of the biggest designer names including Armani, Calvin Klein, Gucci, Cartier and Tiffany & Co, the street boasts more suppliers to the royal family than anywhere else in London. A world away from the every man for themselves experience of Oxford Street, many stores have their own doormen. The street is also home to the world famous Sothebys auction house.
Nearest Tube: Bond Street

Tottenham Court Road

If youre shopping in London for electrical items or home furnishings then Tottenham Court Road is well worth a visit. The backstreets of the area offer an array of interesting pubs and specialist shops and nearby Charlotte Street features a wide variety of restaurants.
Nearest Tubes: Tottenham Court Road, Goodge Street, Warren Street

Soho & Chinatown

Soho has cleaned up its act over the years and no longer has the seedy reputation it was once known for. If its sex shops youre looking for in London, youll still be well catered for but its reputation nowadays is built just as much on the many cafes, bars and restaurants, all of which make the area an extremely popular attraction 24 hours a day. Its an incredibly diverse area racially and culturally, has a thriving gay community and has also become the media capital over recent years. Soho is busy and untidy but well worth the experience.
Nearest Tubes: Piccadilly Circus, Leicester Square

Carnaby Street

Londons fashion Mecca of the swinging 60s has today become almost as famous for souvenir shops cashing in on tourists who are drawn to the street by its iconic name, however it is now starting to regain something of a cutting edge reputation, particularly at the southern end of the street. Newburgh Street (which runs across Carnaby Street) features the shops of a number of top designers such as Jean Paul Gaultier and John Richmond and nearby Kingly Court has 3 floors of concept shops set around an open courtyard offering items not sold anywhere else in London.
Nearest Tube: Oxford Circus

Kings Road

The road gained a reputation for cutting edge fashion back in the 1960s and 70s which perhaps it doesnt quite have nowadays, however it still features many independent clothes and shoe shops. There are also a number of contemporary furnishing stores and a huge array of bars and restaurants. The large Peter Jones department store is at the Sloane Square end of the road and opposite is the new Duke Of York shopping precinct. The road has always had something of a glamorous reputation and as well as providing a great London shopping experience, is also a top place to go celeb spotting.
Nearest Tube: Sloane Square

Fulham Road

The Fulham Road runs parallel to the Kings Road and offers an altogether more laid back London shopping experience. If its antiques youre after or specialist interior furnishings then youll be more than ably catered for here.
Nearest Tube: South Kensington

Portobello Road

Notting Hill has become quite a fashionable area of late but long before the film and even the annual carnival in fact ever since the 18th century the Portobello Road market has drawn large numbers of visitors. Known predominantly for its antiques, bric-a-brac and collectables, theres also shops and stalls selling everything from fruit and veg to trendy clothing. And if all that shopping makes you thirsty, theres no shortage of pubs for you to choose from.
Nearest Tube: Ladbroke Grove

Islington

Another area of London that has become fashionable in recent years, Islington has a bit of everything to cater for both its inhabitants and visitors. Upper Street is the areas high street and features all of the familiar chain stores as well as lots of bars and restaurants. Chapel Market offers all of the usual market fare such as fruit and veg, clothes and homeware whilst Camden Passage has some nice antiques shops. Islington is not the obvious London shopping destination, but well worth a look.
Nearest Tube: Angel

Camden Town

If you're after a more bohemian London shopping experience than that offered by Knightsbridge or Bond Street, then get yourself up to Camden. One of the citys coolest areas has a seemingly endless array of shops and stalls selling such items as clothing (new, second hand and retro), customised Doc Martins and trainers, jewellery, bootleg CDs and DVDs and craft ware. Open daily (and very busy at weekends), it's a multi cultural experience with some great little food outlets dotted all over.
Nearest Tube: Camden Town

Covent Garden

Formerly a fruit and vegetable market, 'The Garden' is now a constant and varied hive of activity. It has a hugely diverse selection of shops, eateries, bars, a market selling art, crafts, antiques and souvenirs, historic buildings, theatres, the Royal Opera House and fantastic free entertainment provided by street entertainers and musicians. If you can't find something to capture your interest at Covent Garden then there really is no hope.
Nearest Tube: Covent Garden