Anyone finding properties now at 70-80% market value?

Question

I use to put out 10 cash offers approx 75% of market value and 10% of the time, a Seller would accept. Now, not a single one has been accepted.

Just curious, but have others had good luck with some good stories in 2021?

Marty Boardman · Answer

I think the days of finding deals on the MLS (and even from wholesalers) are nearly extinct. Yes, you'll find an occasional needle in the haystack, but for the most part if you're looking to scale off-market is the way to go. I focus on pre-foreclosures and auctions. For pre-foreclosures the marketing is pretty simple...door knocking and skip trace/text message/phone call from my VA. At auction I do my homework (title search, comps, visual inspection of the property). Good luck Sam!

Lara White · Answer

@Sam Mathew No, not so much...  some strategies that might help. 1.) Calling the listing agent (if it's listed) before making the offer, feeling out the agent and the seller.  I'll do this each and everytime it's a lowball offer (what a 75% market value offer is now days!), and actually anytime I offer lower than list price right now.  2.) Only doing this on properties that have been on market for longer than 30 days. If it's not been on market that long...they probably aren't ready to reduce that much.  They still think it'll go over ask!

Nicole Heasley Beitenman · Answer

Are you going the MLS route or off-market? Off-market is likely your better bet.

Eliott Elias · Answer

Cash may not be the sellers main motivation. Have conversations with the agents and feel out whats most important to the seller, they may want a lease back, quick close, seller financing.

Anyone finding properties now at 70-80% market value?

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