How much should I offer on a property?

[Marius Baiesc]

Hi,

This year I’ve decided to start investing in real estate and am looking for some general advice.

I am planning to bid on a property and every realtor I’m speaking with is telling me I need to go 15% higher then the asking price. Their telling me investors are banking on the market earning 20% this year.

Secondly they asked that I stay away from FHA loans.

Is this accurate or should I look for another realtor to work with?

I’m looking to invest in Houston TX. 

Thank you for taking time to answer this.