REC Property Acquisition Formula

The only property acquisition formula you need.

Step 1 – STRATEGIZE:

In the initial consultation, my main goal is to sit down with you and get to know you. I want to know YOU so that I know how to best serve you. We will talk about the market and your motivation to buy, whether it’s a good time to buy, what your short and long term goals are, etc…

I work with you to find out what your comfortable property price range is. Did you get your loan in-principle approval (IPA) done? I have a network of excellent mortgage professionals to help you with that.

If you’ve gotten your IPA, I will work with you on your financial risk management. Maybe you’re approved loan is $900,000 but you only want to spend $800,000. At this point, I just want to listen to what is really important to you.

Maybe you’re a 1st Time Home Buyer and you’re buying your first home or maybe you’re a 1st Time Real Estate Investor looking to buy some investment properties or maybe you’re a seasoned investor looking to add another property to your investment portfolio, this stage is where I find out where you’re at, and how best I can help you reach your goals.

If you haven’t gotten your IPA, I will assist you to prepare and secure financing. I will also discuss with you about your required purchase timeline.

Step 2 – IDENTIFY:

Depending on your needs and budget, I’ll discuss the different property types, different neighborhoods and ask more questions to understand what’s important to you when it comes to buying this property.

Different property types have their pros and cons and it depends on what works for you. Especially when property investing now will never be the same as 10 or even 20 years ago, where buyers can just buy any property and will most likely be profitable.

90% of buyers don’t know exactly what they are looking for and so for you I’ll help you narrow down the options by asking you specific questions about your lifestyle, work, family, hobbies, etc…

Different neighborhoods showcase different communities, lifestyles and amenities. We will go over the pros and cons to find out what you like and don’t like, what you’re comfortable with and what you are not comfortable with.

After I find out what you like and dislike, then I offer some suggestions about the type of home and neighborhood that might work for you. You will receive my personalized Property Area Selection Report. (below is the sample cover image)

Step 3 – ANALYZE:

From the list of neighborhoods and homes that you’ll receive, you’ll tell me which ones you want to see.

Based on your preferences, I will provide my personal opinions about the options available, the pros and cons.

Then I further narrow and revise the search and perform Laser-Beam Focus Filtered Searches for you to identify the Best Property for you.

After you pick out the homes you want to see, I make the arrangements for a tour. When you and I see homes together, you’ll see that I don’t say very much and I do that on purpose.

I ask questions and listen to your feedback during viewings and will only provide my personal views after each viewing. Most of my clients end up buying something slightly different from what they were originally planning to buy because they often realize what they pictured in their mind is not actually what they wanted in the end.

So, this is a process of active self-discovery as we see homes together and find out what you like and dislike.

At this stage, I will also apply my Property Investment Grade (IG) system to help analyze the property especially you are buying an investment unit.

Step 4 – NEGOTIATE:

After we look at properties together, I’m very quick to identify what you truly like and dislike. I’ll often able to find out exactly what you are looking for within the 1st 10 homes you and I see together. (My record was my client buying within the 5th home he saw, although I recommend viewing more, this client really fell in love with the house)

After every property you and I see, I will ask you for feedback about the property and ask you to give a rating out of 10. If it’s not at least an 8 out of 10, I wouldn’t recommend you to give an offer.

That’s because I don’t want you to buy a place that you just sort of like.

I want you to buy something you really like and something that really works for you and what you’re looking for. So, I recommend you to only give an offer that you consider at least an 8 or 9 out of 10. When you find ones that are at least an 8 out of 10, then I will discuss with you the terms and details of giving an offer.

To get the best price for you, it’s not as simple as giving an offer and countering back and forth. There’s a lot of emotion and human psychology at play. I utilize these aspects during negotiations and always aim for a win-win situation for everyone involved.

Most people think that to get the best deal, you should Win and the Seller should Lose but I find, Win-Win situations are the best for everyone.

Step 5 – MANAGE:

After helping you buy the right property, I would love to keep in touch with you to ensure that you move into your property comfortably. Real Estate is my passion, and I would love to be your lifelong family realtor.

As I help you acquire real estate, I’ll also share my large network of best of the best service providers including property management, award winning interior designers, renovation providers, etc.

I keep a record of the homes you buy, so as to update you about your property valuation as well as to help you to determine how long you should hold on to that property and when you should sell or perhaps it’s not a good idea to sell, because I hope that you can build a healthy real estate portfolio (only if you want to as well).