Since I don't have a lot of capital, I'm doing "driving for dollar" i think that's what it called. Basically I'm driving around n writing down address I'm interested in buying and looking at the city website and finding the owner then mailing them basically saying I want to buy their property with my phone number. I'm new at this so my question is what should I be looking for or what questions should I be asking them so i can make a deal? I know what's the comp around the Anchorage market is and i know what's the property value is, but I don't want to come low that they just hang up on me. Is there a script I can download or anything that is working for you guys?
You need more than just an ARV and an offer. You need to find out what drove them to call you. Talk to them as if you are HELPING them get out of their issue. Not just helping yourself. You need to find out what they owe on it etc... Then tell them you want to buy their house, and get them straight. Be creative.
@Carson Wilcox I'm talking to someone right now that just bought this house for 149k, she bought it with the intend to fix it up and now she want to give rid of it but she said it bad timing now. The rehab looks to be around 60k, need everything, the previous owner took all the cabinets n appliances, new everything. The ARV looks to be around 249k. Would it be safe to say she won't move the price down because she just bought it 2 months ago? This will be my first flip and I'm afraid the 60k will turn into 80k but I will be doing some of the rehab with my dad along with a contractor for stuff we don't know what to do . What you think? Offer to take it off her hand for 149k or ask for maybe 140k or lower?
you have to look at it like any other property. Use the house flipping tool, enter your costs and desired profit... and it will tell you your max profit. just because SHE maybe bought it too high or cant handle the rehab... you arent there to save her. Maybe you get her out with a smaller loss than she is looking at now.... Dont forget 5% realtor to sell, plus closing costs..
You're right, thank you @Carson Wilcox
@Youdo Thirakul This thread might have the answer you're looking for.