Going to attempt my first deal tomorrow

[Terry Royce]

Found a seller of a house that has been vacant for four years. Owner wants 200k, house needs about 60k or so. Comps run 360-400k for rehabbed homes. I am going to offer about 158 to start, and see where that goes, etc. I am not sure how motivated they are but I figure I will try my luck at negotiating etc. Does anyone have any last minute advice?

Also, I attatched the contract I have been putting together. I looked over lots of various contracts and edited mine to include enough "outs" for a newbie like me, but also tried to make it as brief as possible. Any thoughts on it?

Thanks for all the help guys.