Negotiating Tips Needed

[Benjamin Barredo]

Okay BP Buddies,

The last few weeks have been a period of results and I am so stoked. No, nothing big happened yet, like closing deals or anything BUT the phone has been ringing steadily and I finally have 3 houses with one under contract and being marketed now. 

If interested, it's a 2/1 for $34,000 and already halfway done - at least demolition is done and a window has been installed in the kitchen. If interested, message me. ARV is $75k. 

So, anyway, I have a house I'm going to look at on Saturday. My own amateur comps tell me the house is going to have an ARV of somewhere around $75-$90k unless a bedroom is added, then we're talking roughly $115-$125k. The owner is a senior, can no longer afford to care for the home, bought a condo and wants to unload this because she is still making the monthly mortgage payment. She wants $70k for it.

I think I can drop her a bit but I don't know where I should start my offer? I know that I should feel very uncomfortable when I make it or else I'm not offering low enough but I also don't want to piss her off and shut her down. I was thinking of offering $30 on it? 

Here's my plan: 

Walk the property with a checklist, talk, joke, ask about F.O.R.M. (family, occupation (retirement), relatives, and her motivation) but also just scribble down things that need to be fixed. From there explain that I'll have to do all these things to get this marketable and I need to buy it at...............

Is $30k way too low? I think it might be. What do you think? 

@Charles Jones @Account Closed @Robert Smith @P.J. Bremner @Pratik P. @Marcus Maloney @Tom Krol