newby needing advise
I am a new investor and licensed contractor. I have been making offers on REO properties to flip for 3 months. Offen I never hear back from the sellers agent as to whether the bank accepted my offer or not. I must be doing something wrong. Here is how I determine the offer price. I take the ARV established using my realtor's CMA of the property and also I do my own CMA and compare the 2 then I divide the ARV by .65 and subtract repair cost and holding costs to establish the offer price. Please tell me what I am doing wrong.