Who's making offers this week? What was your outcome?

Question

Yesterday a listed property came up in our target area so we jumped on it. We were the first to walk it and make an offer. It's a distressed SFH with flip or rental potential, sold as-is. We stuck to our numbers and made a cash offer below list. It could be a good DEAL.

Any investors getting lucky? Has your market cooled at all? Just looking for some discussion and negotiation tips. I've had success in the fall/winter season with motivated sellers. I'm about 25% below asking price. Just playing the game. Starting to think we don't have a chance but I'll update as it plays out.

Jaron Walling · Answer

We made an offer for an off market distressed property yesterday. The lead came from a hand written letter mailed to owner. Original owner passed away and family was cleaning it out. We walked the property and 2hrs later made an offer, in person. The sellers (three family members) and I were $40K apart on price... they were not motivated... The price they wanted was insane. Two of them didn't say a word during the negotiation. I could tell they wanted to lip stick rehab the property and list it.

That's two deals in two weeks missed out on because of price. I need some inspiration.

That's two deals in two weeks missed out on because of price. I need some inspiration.

Jaron Walling · Answer

@Russell Brazil That's good news. I feel like there's no wiggle room for the local guy trying to catch a deal. My agent said the other offers were probably sight unseen. This type of buying is next level. The listing only has three photos. When money isn't an issue I guess you just point and shoot at listings?? Seems crazy to me.

Russell Brazil · Answer

DC market is normalizing...I wouldnt call it cold by any means, just back to red hot from the previous years blazing red hot

Who's making offers this week? What was your outcome?

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