How To Negotiate The Best Price On Anything | The Economic Ninja

Economic ninja here. I hope you’re doing great. I want to talk today about. I’m going to give out some free training on how to negotiate lower prices on anything and everything. I’m going to tell some stories, and I’m going to talk about this because it’s very important that you understand how to win in every deal. When you can negotiate a price, whether it’s a $100 item, 10,000, or a $500,000 item, I want you to absolutely win.

Now, what encouraged started this? Well, I’m negotiating one of, in my opinion, hopefully it’s not a subscriber. One of the greatest electric train collections I’ve ever seen in my life. To give you an idea of the value, they want $65,000 for this. I know you’re thinking ninja. That’s an electric train set. This is how I started my real estate empire. I’m not joking. Empire back in 2005 of 14 homes.

So it’s not that big. But hey, size doesn’t always matter. But they’ve spent over $100,000. I’m going to get this for $20,000 or under watch. It’s going to be awesome. But I figured I’d go, you know what? This is a great time for sales training, and it’s not sales like you’re selling something. But remember, the money is made the day you buy something, not when you sell it.

Why? I know it sounds crazy. It’s because you’ve set up your cost basis. You’ve set up your starting point. You know that every dollar you make over that purchase is profit. So why not maximize your profits? We’re going to talk about buying now. Real quick. Comments are down below. Do not take money or do not give your money to a stranger. And if they even have my emoji or name, it’s not me.

I will never ask you for money. Okay, so we’re going to dive into this. I even got notes. Ninja’s got notes. And also, real quick, I’m going to put the lowest price ever on the side hustle course. How to start a side hustle. It’s $199. Lowest price has ever been. And auto trader pro for $189. Where I go into negotiating on vehicles, on all kinds of stuff. I go way more in depth and more professionally than right here.

Okay, so first off, I’m going to tell you a story. There was a man named Alan, and he bought tractors a long time ago, and he was known for going from California all the way to Iowa to buy tractors. Now, you know, if you’ve followed this channel before. You know, I’ve made lots of money, hundreds of thousands of dollars selling tractors during the great Recession. I was buying them from construction companies that weren’t planning for a recession and went out of business.

I would buy their heavy equipment and sell it and make stupid amounts of money. And I want to teach that to people because it’s super easy. Again, it’s all in the buying. Well, Alan, he would turn around and he would go to Iowa. He had an amazing truck. It was a semi truck that was all rebuilt, an old peterbilt, and it had dual trailers. And he would go and buy tractors in Iowa.

Why? Because there was a lot of tractors for sale, a lot more farms. He would buy them and bring them back to California. First rule, did he show up with that semi truck? Heck, no. And the deal? Rule number two, he did the deal over the phone. Or today we’d be on the Internet. Right? This is before the Internet. Why did he drive that truck? Well, because first off, two things happened.

The seller would see that nice truck and the price would go up. Then they would see a license plate from California and the price would go up even more. And then probably a little bit of disdain and resentment or anger towards him because he’s from California. So he knew this. He would set up that negotiation. Sorry, it’s getting bright. Outside of being able to see the person, he would be kind and considerate.

He would set up the price and not insult the person. Let me go into a little bit more depth. When I make an offer on something, I always warn the person, look, I think, first off, I don’t insult their stuff. Don’t ever insult someone’s stuff. It just pisses them off because you want it. So why would you insult their stuff and then go, now I want to buy it.

That’s the dumbest thing I’ve ever heard. So don’t insult their things. I usually tell people, I believe it’s worth what you’re selling it for, but I can’t pull that off. If I make you an offer, I just don’t want to offend you. But I can tell you this. If I make the offer, it’s good today, and you got cash in your hand and it’s done. And I always like to put in parentheses, and you don’t have to deal with stupid people on Facebook or Craigslist or anything like that again.

Or it’s good 30 days, 60 days from now. Right. Because you’re about to give them an offer that is going to be so good for you, right? You’re going to save money. You’re going to make that purchase, you’re going to set your cost basis for whatever it is, whether it be an electric train, a Ferrari. I’m not joking. Like, I do this kind of stuff, right? I bought a car, a high end car, a year ago for $25,000 undervalue.

And I could get at least $20,000 in profit right now, even with the car market adjusting. Okay, because I bought it, right? And I bought it from a dealer. It was the dealer’s personal car. I know it sounds crazy, but long story short, that’s what I did. So I don’t insult the person and I say, I want to make you an offer, and it’s lowball, but it’s going to be good today or down the road.

When I say that you don’t have to deal with stupid people on Facebook or Craigslist again, usually nine times out of ten, they go, you know what? You’re right. If you got cash and you could be here soon, it’s yours. But out of those percentages, usually nine out of ten offers, actually, let’s be realistic. About seven out of ten offers will call me back in 30 days that say, no, it’s too low.

They’ll call me back in 30 days, say, hey, is that offer still good? I don’t even have to ask what it is. I just got to go through my notes and see. Go. What did I offer them? It’s still good because I’m making a low ball offer. Well, I’ve already set them into the position in their mind that they’re going to get a low ball offer. And I’ve also told them, please do not be offended.

And I haven’t insulted them, so they’re not going to get offended. I’ve only had this once or twice in my life where people got offended. Still after that whole spiel, and they go, I’d never take that. I’d rather burn it. You get people like that, and usually I’m offering $0. 50 in the dollar, okay? But I’m giving them a path for success, right? In that conversation, I’ve said, you’re either going to sell it to somebody, I believe you’re going to sell it, but in case you don’t, or in case life changes, or in case you just get, I’m done.

You could sell it to me for this price. They go, what’s your offer? And I tell them, and like I said, a bunch of them will say, no, but they’ll call back. And I’ve had them call back. Seven out of ten people will call back after 30 days if they turn it down. And they’ll go, you know what? Is that still good? I go, absolutely. And I go, get it.

And I’ve now secured that. Well, now, in Alan’s situation, he wouldn’t show up with his really beautiful Peterbilt semi truck with his California license plate. No, he’d do the deal over the phone, and he knew the lingo, and he talked like a normal person, not with big words, sophisticated crap. He would talk like a normal person, and he would negotiate. And so this is what I’m willing to pay.

Are you willing to sell for that? And they’d say, yes. He still didn’t show up in that nice semi truck. You know what he’d do? He showed up in person in an older vehicle, an older thrash vehicle. And he wore normal clothes. Normal. You want to dress at the level of the person you’re dealing with or lower. So if you don’t know what they dress like or who they are, you just dress lower.

You don’t want to add any kind of stress. You’re about to make the deal. And back when he was doing this, they didn’t have fancy technology to be able to pay, like apps and stuff like that to put down deposits. He would go. He’d write the check or bring the cash, get the pink slip, a bill of sale. He’d get that in his hand. He would thank them kindly, says, I’ll be back to pick it up.

And they pre arrange. At that point, he would pull up in his semi truck, the California plate, and the jaws would drop. And I’ve had this happen with me, too, because I do the exact same thing, this sales technique, and it works great. And people say, wait a minute, you got money? I’m not even flashing them. Just got, like, a nice truck that I keep waxed and a.

I just. I don’t know what that means. I’ve had people say that. And those are the people that would have taken advantage of you in the deal. They would have taken advantage of you. The second they see you coming, they go, oh, yeah, you marked this thing up 20%. No, we ain’t even taking a dime under. I always negotiate the price before I ever show up, ever. And here’s another rule that you have to realize.

I taught this to a good friend of mine, Charlie. You always ask for less. If somebody priced it, they’re willing to take that much. Most human beings price things. That’s why you’ll see. And it just blows me away. When they want, like $10,000, they’ll list it for $10,300. We already know $300 is coming off the buck. They’ve already accepted the ten, right? It’s a gimme. When I teach you how to sell things in these courses again, those links down below, if you want to take advantage of it, I can guarantee you listen to those courses, you’ll save or make ten times the cost of that course over the next six months.

If you put all these things to work, to either auto trader pro or side hustle course. That’s a gimme. I teach that in the course, how to price things, right? You always got to give something away. But they make their gimmies too small. And so what we do is we go, okay, they listed something for 10,300. We know they’re going to take ten, they’re going to take nine.

And the power of the ask. I do a lesson, I think it’s in side hustle course is so valuable, the power of the ask, because you’re peeling money off of the deal verbally over the phone. And if somebody doesn’t want to talk to you on phone, they all want to do things through text. That’s usually a red flag with me. Just so you know, if you can’t get them on the phone, they’re not man or woman enough to talk on the phone, then I usually just sort of shy away.

Anyway, I’ve only a couple of times done stuff without detailed photos and people talking on the phone. So my point being is then they turn around and you go, okay, you get the money peeled off. That’s now your base rate. I know this sounds crazy, but this is how you do deals. And you say this verbally. Okay, so we’ve agreed on a price. $9,000. It was ten three.

We already knew you’re going to take ten. I’m comfortable paying nine. You walk in and you go, and I always told them this. I usually back up a text like, thank you for coming down a price. As long as everything’s as it is in the description in the photos. I got $9,000. It’s coming to you. I’ll see you tomorrow or whenever. When you show up, you make sure that those photos were accurate.

And if they aren’t, this is how you approach it, and you’re going to peel even more money. And it’s like putting money in your pocket. My buddy Charlie’s like, we just walked away and we ate an additional $2,000 on that deal because we already knew what we were going to sell it for. And we negotiate the price and we just peeled another 2000 because we walk up and go, oh, man, there’s this massive dent here.

It wasn’t in the photos. Now, instead of getting pissed, what you do is it’s already an awkward dance, right? Because maybe they knew about it. You can usually tell from their facial expressions. Maybe they knew about it. And you know what you do? You treat them like gold. You say, oh, man, this wasn’t covered in the photo. I don’t blame you. It probably was the sun, the shadow or something like that.

Darn. Okay. And you don’t talk price then. And then you walk around. Actually, let me see this real quick. All right, on. Thanks, bob, for the super chat. So my point being is that you go, okay, you just pointed that out like, oh, man, you must have missed it. Okay, no worries, man. I get it. You didn’t see it. There was a shadow or something like that. Or maybe it was in the photo and I didn’t see it.

I guarantee you people are. You’re looking, was that in the photo? Then you go around, you find a couple of other things, like, okay, that wasn’t in the photo. All right, no worries, no worries. No big deal. Still want to do the deal. And what you’re doing is you’re setting yourself on a totally different level of playing field when it comes to the negotiation. You’re being cool. You’re not being a jerk.

See, if they want to rob you, they want to take advantage of you, and they want to hide things that are wrong. I’ve already, in my mind, mentally, like, with a vehicle, I go, I need to know I could resell this thing even if the engine blew and make a profit. And I have to replace engine. So I already price in a transmission replacement or an engine. It’s very rarely both.

So I do that. And over the course of multiple deals, I’m always making tons of money, right? If you do just one off deal, you could lose your butt. When you’re doing multiples, you’re going to make your money back. So I’m going with the law of averages. So you’re going around this thing and you’re pointing all these things wrong, but not like a jerk. People are like, oh, I’m not paying for that.

I’m not paying for that. Again, you’re going to be the total opposite of everyone they’ve ever had to deal with. And then at the end. You’ve gone around this whole thing and you go, okay, you know what? Let me ask you this. I don’t blame you. I get know is this wrong and this wrong. We negotiated at nine and I want you to understand this, hopefully nine. You’re making money, right? It’s a big deal.

Bob, thank you so much for the super chats. You’re awesome. And my point being is that you go, you know what, considering all this stuff, I’d feel a lot more comfortable at eight, honestly. And I know it’s not your fault, but I don’t know, this is rough and you have to be willing to walk. And even when they say no, there’s no way. That would be pretty crappy because they knew those stuff are there and most time they’re like inside, they’re going, all right, they found me out.

They know what’s going on. I’m going to give it to you for eight because you weren’t a jerk and you’re playing the good guy. They’re going to give it to you. But let’s say they don’t. You still walk away. Say, okay, yeah, I can’t make this happen. I got a jam and you walk. The few times that I’ve walked, this is what’s happened. 75% of the time they call me as I’m driving down the or text me driving down and says, you know what, screw it, I’ll take it.

Because they’re watching their money. They’ve already spent the money in their mind. Once a deal is done and you show up, they’re like, yes, I get that new car, yes, I get that furniture that I want to buy. Yes, I’m going to pay that loan off. When you’re walking away down the street, like, let’s say this rv right here, and there are some things that just weren’t on the photos.

And I tried to get that lower price from 9000 to eight and I’m walking away, they’re standing here and they’re looking at that thing and they’re looking at their paycheck walking away. They’ll call. Let’s say they don’t. There has been a couple of times and I’m not kidding, a couple of times me and my buddy went down the street and we were doing selling trailers and we sold about 157 park model or mobile homes.

We made lots of money, stupid money. Our goal is to make $500. The first month we made 5000. We turned that into 100,000 and it went on into the well, we made a lot of money. So my point being is we drove away and went, gosh, we don’t want to drive back empty handed. And that was another thing we said. We can at least make, at worst case scenario, $1,000.

So we could either drive home empty without 1000 or put 5 hours, 10 hours of the work in this and walk away with 1000. And since we were a team, we were always looking for that next thing, right? But it’s always be flipping money. The velocity of money. I go into that in the side hustle course, for sure, the velocity of money. It’s very important to keep that money moving and growing, right? And there’s also a time not to buy certain deals because you’re like, look, my time is worth more money.

But especially in the beginnings of a side hustle, your time is worth nothing. Please understand that. That’s how I always looked at it. Even after being a millionaire, my time was not worth anything because I was trying to build something great. Once it’s built and it’s great now, my time’s worth something. And I actually talk about how to calculate how much your time is worth at a certain point.

Me and Charlie selling trailers were making more than the lawyers and doctors. We were making about $450 each an hour of anything we did when it came to trailers. So think about it like, well, we could go to work today, or we could make in 1 hour what we make all day at work. What do you do? Well, let’s call them sick. That’s what we did. And then you’re like, oh, do you want to make twice your net worth? Okay, we just got to work another because we only worked.

Like, maybe we would work 10 hours a week. Me and my friend, you get two best friends together, you’re making a lot of money, you’re having a lot of fun. But again, it’s all about the price that you buy it at. That’s what most people don’t understand. And they’ve tried side hustles before. They’ve tried flipping things, and they don’t get it because they’re not negotiating the price. Right? So again, just to recap all this stuff, negotiate on the phone or on the Internet.

First get your base price. Then come in. Don’t be a jerk. Don’t show up in a flashy vehicle, flashy clothes, and try and get them whittled down more. You now have your base price, which should be good enough if everything’s represented in the photos, if it’s not, if it smells like piss inside or whatever. We’re selling right again. I started this video telling you I’m going to be buying a over $100,000 electric train collection.

He wants 65. I’m going to get him down to 20 if he hasn’t sold it. And one of those ways is I can tell by the photos of the type of vehicle he has. I hope this isn’t a subscriber. If it is, I’m getting an email. I guarantee you real quick. And the stuff, the mountain bike that’s in the background of the photo, I could tell how expensive that is.

So I could tell his case. I know he doesn’t want to sell all that stuff on eBay. He doesn’t want to take the time. There’s hundreds of train cars. He doesn’t want to sell each one individually. He wants it all gone in one. So I’m going to get them down in price, and that’s good business. Everything’s honest and upright. My goal is to get it as cheap as possible and make the most amount of profit.

Now, however, there are some pieces from here I want for my personal collection. I know it sounds crazy. I still play with trains. Actually, I never even ran them in my entire life. But it has been. It’s what got me started in real estate. And that’s another thing, people, I was just talking to somebody, they’re like, I want to buy a house and rent it. Like, okay, so let’s talk about going to the garage sale this week and flipping $50.

No, I just want to talk about. And I go, but you don’t have the down payment. Yeah, but I want to do this. I’m like, you don’t have the down payment. So you have to start small and then get big. When I was selling trailers with my friend, we had friends just, whatever, dude. Just hauling around junk, cleaning junk. We’re having the best time of our life. There are people that would make like, let’s say, 150,000, $200,000 a year that put their noses up at us, thinking, look at those guys.

We’re making four times what you make. Don’t be afraid of coming across as knowing less or seeming to appear as less in society, because those people that I know that are doing this, they’re making more money than 99% of the nation. Okay? So you just take these small little tidbits of information on how to sell. But again, that’s why this video is about how to purchase, how to get the best price possible.

I go into this stuff, more depth of the courses, but it’s important to get your price point low. All right, look, if you ever want to start a side hustle, I go from starting a garage sale and how to actually have a successful garage sale and makes you the most money. What sell, what not to sell. And it ends in how to start a corporation, how to fill out the paperwork and start a corporation, all this stuff.

So if you want to go from a to z with a side hustle and you want to learn from my 24 different side hustles of experience throughout my life, there it is. $199 if you want the lowest price on the auto trader pro, how to buy your next vehicle, either new or use and save the most amount of money, which is going to be worth a lot more than $189, and then replicate that the rest of your life.

And then how to sell it and make the most out of, how to list it and how to take photos. All that stuff down below. Links are down below. Remember, don’t listen to a fake ninja. Don’t give a fake ninja any money. Don’t even give a real ninja money unless I’m going to give you something like a course. All right. That being said, the economic ninja is out.

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