How much should I offer?
Hi, everyone this is my first post.
I have what looks like a great situation. Just not sure exactly what to do with it. I am looking at duplexes in a fairly small market in the Midwest(around 100k population). Most of the properties I've been looking at seem to be priced reasonably but none of them are moving. They have been on the market from 4 months to 2 years. The longer ones are new construction. To make these cash flow as well as I would like I would want to offer much less. How much less than market value(per the comps) should I offer in this scenario? Should I start with a major low ball offer like 50% less or will that turn away a seller for sure? Thanks for any advice.