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When I was a Junior in college, my dad decided to start a real estate internship and brought on 10 college students for a summer of real estate investing madness. Each intern rotated between work in the field (property management, maintenance and construction) and work in the office (marketing to sellers, analyzing deals, etc.). My dad also brought in professionals such as real estate agents and attorneys every Friday to speak to the group. At the end of the internship, he brought on a few to work full time.One memory in particular sticks out to me. We were looking at a house in town called Elmira just outside of Eugene, OR, and he decided to bring the entire crew along. My dad and 10 interns showed up to look at and evaluate this house as the seller sat back and waited to hear my dad’s response (while, of course, commenting on the oddity of the 10 of us interns being there).The seller wanted $240,000. After looking over the property, my dad offered him $200,000. And thus began the negotiation. I sat there witnessing this display of hyper-awkwardness, as 10 interns watched my dad and this seller go back and forth.The seller came down to $225,000. My dad countered at $210,000. The seller said maybe $220,000, but my dad held firm at $210,000, and the seller eventually met him there.
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