hey bpers, just got another lead its a 2bed 1 bath 864sq ft house.
I ran some comps might not be exactly accurate (Zillow) and says the house is worth about 135,000. the person is asking for 165,000. what do you think I should offer on this property. Most likely im looking to wholesale. Any help would be appreciated
The sellers may have a very inflated idea of what the property is worth which is not uncommon. But yes Zillow is not accurate, I would try to connect with a Realtor in your area and see if you can get some more accurate comps. You'll absolutely want to get it for a lot less than its current value. How much you offer has a lot of variables like your commission, who your buyer is, does rehab need to happen, etc.
i guess i jumped the gun and offered him 95 for it. I ran the numbers told him my price he didnt accept it. But im going to follow up with him in about a month and see if he wants to play ball 😃.
Personally im kinda proud of myself that was my first offer i made in my first direct mail campaign and so far i had about three calls. I will be speaking to my next one tomorrow.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.