What should my max offer price be?
I was driving around to day, and going door to door knocking in hopes of finding leads. I did find on really motivated seller. He purchased his home 13 years ago. The ARV of the home is $135,000, he owes $60,000 according to him. He wants retail value. I did however tell him that that wouldn't be possible due to the repairs the house needs, and the fact that I am giving him a cash offer and willing to close within a few days. What should be my starting price, and what should be my absolute max price, if I am trying to make about $10,000 on this deal? This is my first seller that we get this far with. I was working with another one previously but he ended up going to jail.