Asking Price vs Offer Price
Hi,
I am just starting out in REI. My strategy is to purchase, renovate, and rent through section 8. I have looked at 4 houses with my realtor. The houses' asking price range from $10k - $27.5k. I've placed a few offers on those houses but they were too low and got rejected.
Can you all please give me advice on how you go about choosing your starting offer price and what factors you take into consideration.
What's the average percent of the asking price that the offer usually gets accepted for?
I appreciate any help in advance.