Page 161 - Trump University Commercial Real Estate 101

Take Onl y Intelligent Risks

You ’ ve just thanked the broker for sending you a deal, even if it ’ s
no good. That ’ s showing professional courtesy, and it will set you apart
from most of the people on his list. What you ’ ve also done is to start
training the broker on the type of deals you ’ re looking for.
You ’ re now above all the amateurs who call the broker on a regular
basis and say “ Hey, you got any good deals for me? ” When you follow
my approach to brokers, you ’ ll begin to see better and better deals.

At First, It ’ s Just a Date

If you take the attitude when dating that each time is an important
commitment, you ’ re most likely going to die single. Instead, on early
dates you are simply getting to know each other better.
Let ’ s say you look at a deal and decide that it has some merit. You
get to know each other by making an offer, in the form of your letter
of intent (LOI). You ’ re simply asking for a date, with no commitments.
That leads us into the third and final step in getting good at real estate

investing:

Make Offers Regularly

You should actively strive to put in as many LOIs as you can. It ’ s cru-
cial that you get the feel of going through the process. When you talk
with the broker or seller about a deal, you get to experience the start of
the negotiation process.
I want to be crystal clear: Even when the numbers are not close,
you should still create an LOI and submit it! You won ’ t be doing this
during your entire career, but you should focus on it at fi rst. Remember,
you ’ re getting your deal legs.

Don ’ t simply write up any deal. Do first try to analyze the num-
bers and rate the potential of the opportunity. My point is to make
sure you don ’ t let lack of quality prevent you from making regular
offers.

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