Posted by Eduardo (OR) on June 08, 1999 at 18:37:24:
Dan–
Any of the calculator courses sold here at this site would be excellent. Cameron Dunlap’s material is not just oriented toward real estate paper and includes a calculator.
Knowing how to negotiate is not just a “flying by the seat of your pants” sort of thing. I used to think all I needed to know were the real estate tips, traps, and secrets. I had read several negotiating books by Herb Cohen, Roger Fisher and others. Then one day I discovered Give and Take, by Chester Karrass, on negotiating techniques. It changed my life. This is a book specifically on tactics people use as opposed to theory. It lists hundreds of them. I have since collected a large library on real estate subjects and have taught courses on real estate and negotiating. Karrass’ book is still the best, followed by two other books on negotiating tactics (you only need one of these), Pocket Negotiator by Gavin Kennedy and Negotiation Tactics by David Churchman. I still carry a copy of Karrass’ book in my car to read at odd moments. You don’t have to memorize a lot of stuff–just be aware of how certain techniques work so you can use them when you want to and recognize them when someone is using them on you (and they will!). One comment: Probably the most misunderstood and misused approach that stamps one as a rank beginner in negotiating involves the mistaken belief that to get what one wants one must show toughness and attempt to dominate the other party by running them or their property down. Nothing could be further from the truth. It’s insulting and turns people off. I see beginners advising this to others on this message board (“Your property is overpriced;” “The lease says no pets, get rid of your dog”). I’m in the business to make money not make people mad at me. The idea is you get more by being nice to people and trying to get them to like you (“you sure have a nice property here, I wish I could afford to pay more for it;” "Hey, that’s a good-looking dog, it’s too bad he triggers that extra $100 a month pet fee in the lease, are you sure you want to keep such a costly guy?). All the time smiling and nodding. I’ve found the most important thing in real estate is, “negotiate, negotiate, negotiate.” I do it all the time–sure is fun to be a winner and have them like you too.
Sorry for long post (dedicated to JPiper, master of the long post–every word a gem). --Eduardo
Financial Calculations - Posted by Stephen-TX
Posted by Stephen-TX on June 08, 1999 at 13:08:29:
I have been reading Lonnies book “Deals on Wheels” and he talks about;What is my yield? So I thought I’d get a financial calculator (HP10c) to try and understand better by doing but the manual that comes with it isn’t very informative. Can someone recommend a resource that could explain how to do the calculations so a novice can understand it?
Thanks for any help,
Stephen
Re: Financial Calculations - Posted by Eduardo (OR)
Posted by Eduardo (OR) on June 08, 1999 at 14:47:53:
Stephen–
The HP-10C is an excellent calculator. It can do everything the 12C can do (except it’s not programmable) and it’s cheaper and faster. The manual is excellent also. However, to answer your question:
The best book ever written on using financial calculators is unfortunately out-of-print: E. Greynolds, et al., Financial Analysis Using Calculators: Time Value of Money, McGraw-Hill, 1980. Greynolds is the expert on this subject. He was the consultant to Texas Instruments on their manuals for their financial calculators. You can probably find the TI Business Analyst Guidebook at used book stores. It’s a big manual of a hundred pages or more. They include a much smaller version with their new calculators today. Unfortunately, the key strokes are different for TI calculators than HP calculators. Your best bet now is to buy from HP directly their HP-12C Owner’s Manual, Solutions Handbook, and Real Estate Applications Handbook. There are a number of other books that have been published with HP keystrokes for real estate applications, but you have to search them out. If you really want to know the mathematics behind compounding, and financial mathematical practices in general, get Cissell, Mathematics of Finance, the latest edition.
I’ve made more money in real estate investing and real estate paper from my investment in a financial calculator and learning how to use it than all the courses, books, tapes and seminars I’ve taken (not to knock them, I’ve made money from them too), except for maybe one other thing: the best book on negotiation techniques ever written. Anybody in this business who really wants to succeed must master real estate principles (buy courses from J.P. at this site), the financial calculator and negotiation techniques. Like a three-legged stool, if you don’t know all three your investment program won’t hold up. Good luck. --Eduardo
Re: Financial Calculations Book - Posted by Michael Morrongiello
Posted by Michael Morrongiello on June 08, 1999 at 14:37:47:
Jon Richards has a wonderful book called “Calculator Power” that will provide with you with DETAILED lessons on how to do calculations.
Michael Morrongiello
American Note
Operations Manager
800-659-2274 office
415-883-1284 Fax
MikeM@americannote.com
Re: Financial Calculations - Posted by DanM(OR)
Posted by DanM(OR) on June 08, 1999 at 15:57:31:
Eduardo,
Could you fill us in on the book titles you are referring to? Specifically the one on negotiation?
Thanks!
Your neighbor over in Bend,
Dan Matejsek
Calculator Power available here - Posted by Jeanne
Posted by Jeanne on June 08, 1999 at 15:10:19:
For a description of Jon Richard’s “Calculator Power,” follow this URL: http://www.creonline.com/b-119.htm to the online catalog.
It is item b-119.
Jeanne