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Hundreds Of Thousands of New Jobs To Be Added in Atlanta

Atlanta-Skyline-at-SunsetOne more reason why we like Atlanta, and why you should too.

Hundreds Of Thousands of New Jobs To Be Added in Atlanta and the State of Georgia in the IT Health sector according to the Atlanta Business Chronicle.

In an article titled “City will sell itself as health IT capital”

Changes that will need to take place with health care records and how medical professionals access them. Hospitals, clinics and doctors will need to upgrade their IT systems. This will create massive amounts of jobs in and around the Atlanta Metro Area.

Buying REOs »

What is the key to negotiation?

RJ Palano here from First a little background. I’ve been involved in the acquisition of real estate since 1977 when I bought my first house. Since that time, I’ve owned and sold thousands of houses, a couple office buildings and apartments. The houses I’ve been involved in span over 50 cities and 12 states. I’ve made more than my share of mistakes and failed forward to where I am today – a full cycle turnkey operator in Atlanta Georgia.

I’ve attained this level of personal and financial development due to four things:

1. My never quit attitude which is encompassed by a phrase I’ve claimed as my own “Anything worth doing is worth doing to excellence.”
2. The information and knowledge I’ve obtained through serious study and more importantly “hands on” experience.
3. The courage of my convictions to not just take action, but take massive action.
4. My learned ability to negotiate with homeowners.

It’s the latter which I feel is so important and now becoming a factor in today’s real estate market in 2014. You see, negotiation is the highest paid skill in every business and is critical to make a profit in real estate.

The key to negotiation is to only negotiate with the decision maker of the property you are trying to buy. So, the first question prior to negotiation should be: “Are you the decision maker with a follow up question of who is the owner?”

In the last six years we’ve played the “highest and best” game with sellers as most of the sellers were lenders that foreclosed. We all know the game: They would list the house below market value to attract as many offers as possible and then ask for the highest and best. It’s still going on but rapidly coming to an end. There really was no negotiation skills required as we were all dealing with MLS listings and going through agents, brokers, asset managers, etc.

Today I can see the change coming as we attack the acquisition side of our business, targeting homeowners.

Regardless of where or who you are buying through, you need to know how the person controlling the property fits into the picture. This is the beginning of your negotiation. If it’s a realtor, enough said as most couldn’t negotiate a cup of coffee at Starbucks. If it’s a promoter, which in most cases acts as nothing more than a realtor, ask them what their markup is. I’m sure most readers realize that the bench mark commissions in the U.S. for real estate are a 3% listing fee and a 3% selling fee.

Wouldn’t it make sense to ask what someone what they are charging you for their service? Isn’t everything in life negotiable? Think about that. We’re all in sales and constantly trying to sell, impress, win over people all of our lives. This is a human relation skill applied to everyone we have contact with: Think about what you said or did to attract your girlfriend or wife. What about when you applied for a job, bought a car, hired a house painter or bought a house. If you don’t’ have the courage to ask you’ll pay retail or above retail for everything. Whenever possible, negotiate with the person that makes the decisions. You need to know their needs and be able to provide a solution to their needs in order to be successful. Never pay retail for anything.

You can reach RJ at or 813-495-3006.

Hundreds Of Thousands of New Jobs To Be Added in Atlanta

One more reason why we like Atlanta, and why you should too.
Hundreds Of Thousands of New Jobs To Be Added in Atlanta and the State of Georgia in the IT Health sector according to the Atlanta Business Chronicle.
In an article titled “City will sell itself as health IT capital”
Changes that will need to take place […]

What I learned the hard way in build-to-rent: Lesson No. 2

When equity funds like Blackstone rushed into Atlanta and other cities in 2012, I knew I could not compete head-to-head with them in bidding for foreclosures, so I decided to head down the path of build-to-rent.
In the last column (Lesson No. 1), I mentioned the importance of knowing your builder. Now, I want to warn […]

When it makes sense to sell the lots instead of build on them: Build to rent lesson No. 4

I used to be primarily a wholesaler in Florida, but this dried up as investors abandoned the market. The market went up so fast in the early 2000s that is was not sustainable and led to our real estate bubble.
Everyone I know that was in the real estate business took some kind of hit, including […]

Lesson No. 5 in build to rent – Permit fees, rights and HOAs

There is a lot more to building real estate investment houses than you might think, unless you are a builder.
Permit fees are self-explanatory, as you can get the information from the county where the lots are located. However, sometimes a developer who went bankrupt did not live up to all his commitments when his project […]

An Introduction to Buying Houses at Auction

I bought my first house at auction in 1979 in Williamsville, New York and I paid $23,200 for it. That house was rehabbed for under $8,000 and was sold for a profit of slightly over $20,000 within three months.
It only took me one transaction to get hooked buying homes at auction. This was my first […]

4 Key Reasons for Buying Houses at Auction

When I look at a prospective property that I will make an offer on at an auction, I know right there and then what my plans are for that property and how I will exit it.
This thinking is critical prior to making offers or bidding at auction. If you don’t have a clear plan for […]

The No.1 Most Important Thing About Buying a House at Auction

If you’re watching “Flip this House” or “Property Wars” on television, take my advice: Turn it off.
These shows are orchestrated BS showing potential buyers doing inadequate research hoping they find a pot of gold in a house. If this is your approach, you will lose.
You would be surprised to know that institutional buyers send people […]

Investing with your IRA – FAQ’s

IRA Frequently Asked Questions
Is a Self-Directed IRA any different than a regular IRA?
Yes. With a Self-Directed IRA you are able to direct your own investments. Unfortunately, many custodians place restrictions on what you are allowed to invest in, but an IRA that is truly self-directed allows you to invest without restrictions.
Is there […]

Buy Cash Flow Property

Buy Cash Flow Properties is for investors that want the benefit of real estate without the hassle of dealing with properties or tenants. In essence, it’s for “Passive Investors” who want the security, the cash flow and the appreciation of today’s real estate opportunities.
Our ability to recognize emerging markets, combined with our relationships with […]

What’s an REO

What’s an REO

An REO is a property that was foreclosed on by a lender and that the successful bidder of the mortgage foreclosure auction was the lender.

Are You a Passive Investor?

Are You a Passive Investor?

A passive investor is not active in the day to day real estate business.