I'm a newbie & I found a distressed seller - need guidance

[Mary Bodrato]

Hello & Good morning all!  

I spent my Sat morning & afternoon yesterday driving around and looking for opportunities. I ran into a couple who are distressed sellers and they need to sell their home asap. I looked at their home and its a beautiful 3/2 in a great area and has great potential to buy & flip or buy & rent.  

I'm not sure how to find a buyer and what to do next....I feel I can help this couple but just dont know what to do next. Some guidance is much appreciated.

~ Mary B 

[Brent Coombs]

Originally posted by @Mary Bodrato:

Hello thanks @Charles Smith  so my next question is ...when I make an offer ...is there a rule about how low I should go on offer?  I've heard to offer as low as possible but I just dont know if I'm too low or not. This couple is asking for $210,000 and I have no idea what to offer - any suggestions?

If you need to ask, it means you are nowhere near ready yet. Seller asking price means NOTHING!

Once you realize that, you can start at the beginning:- What have similar homes sold for?

After you know that, there are a LOTS of other questions too. (Number one tip: no emotion)!

Start, now. (And please let us know your conclusions along the way, for assistance). Cheers...