Have you ever thought about how other people are able to make it big in the business world? I’ll let you in on a secret... It is all in the power of negotiation. You may have the best offer but if you do not know how to negotiate, you would still be declined.

In today’s episode, we are joined by Johnny Nelson, an experienced Mechanical Engineer turned Fund Manager to share with us tactical negotiation strategies so you can win on that opportunity!Johnny Nelson is a Fund Manager focused on A & B Class Multifamily Real Estate, with a passion and expertise in the Affordable, Additive, Modular & ADU Development space. A graduate degree focused in Material Science from The University of North Dakota.

He is an experienced Mechanical Engineer with a demonstrated history of working in the additive hydraulic, electrical and medical industries. General Contractor based in Homer AK, with a specialization in Light Commercial and Custom Residential.

Johnny is also skilled in Statistical Process Development, Lean Six Sigma Process Improvement, Laboratory Analysis, CAD, CFD, FEA, Project Management, and Strategic Business Development. Extensive Modeling and Additive Manufacturing experience.

He defines himself as hungry and a continuous learner, with an endless curiosity about the world around him.

[00:01 - 13:47] How It All Started

• From guarding construction sites against bears to an experienced mechanical engineer to a successful Fund Manager
• Living with a big family taught him how to work with people

[15:38 - 21:21] The Do’s & Don’ts in Real Estate Negotiation

• Maintain a calm demeanor
• Active Listening

[15:38 - 21:21] How To Prepare for A Negotiation

• Mirror the other party in a way that feels natural, not knowing that negotiation is happening
• Repeat the last few keywords that someone said and ask to elaborate

[27:10 - 42:04] Tactical Negotiating Strategies that you can win to win a deal

• Add value other than what is expected of you
• Differentiate yourself from competitors
• Make them feel that they are working with real people
• Build a team to build credibility
• Create a relationship by establishing an emotional connection
• Determine the trigger points of the seller

[42:13 - 47:17] Pod Decks Segment

• How do you plan your day?
• How do you organize your budget?
• What will people look back at us?

[49:04 - 55:44] Core Four Questions with Johnny

• Favorite business-related book
• What do you think your unique skill is? That helps you become successful.
• something that's true about real estate that almost nobody agrees with you on?
• What one piece of advice would you give to our listeners wanting to succeed in real estate investing?

Key Quotes

“You can't have the same assumption with a different set of conditions or facts.” - Johnny Nelson

“You want to go or at least have an idea of where you want to go and take a step in that direction. You're not going to know what to do. It's not going to feel right, it's going to feel very uncomfortable. But take a step in that direction. And then the next day, take another step in that direction, and just keep chipping away towards that goal that you want to achieve.” - Johnny Nelson

Connect with Johnny!

LinkedIn: https://www.linkedin.com/in/johnnynelson/You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube

You can also email me at [email protected]

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

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