OfflineI keep hearing about investors who make 20-30 offers on REO properties every week - they don't even go and look at them, they just make really low offers. What I'd like to know is, how do they know how much to offer without going and looking at the house and seeing what it needs? Is there anyone out there doing this sort of thing - I'd love some tips on how you go about deciding how much to offer without seeing the house. It seems to me that the end buyer would want as much information as possible about the house - or is that taken care of during the inspection period of the contract?
Thanks for the help!
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Look online at the house
Comps of houses in the area minus what repairs might be needed + another % if you're paying cash
I have made many "low ball" offers on homes without looking at them. The only ones that were not rejected, and we negotiated an agreement on, turned out to need more rehab than what made the deal doable. We had to back out on all of them. I prefer to check out the property first.
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw
when your back is up against the wall you tend to want something to work for you. You believe in just about anything; that is not to say your weak. The creative process kicks in the mind, seek out a way to make life better for itself. You start listening to your friends, family, and even strangers; you look at sucessful people and hear about their trials and tribulations on their way to the top. You hear how they lived in their car or in a garage, but you don't see how hard it was for them to get where they are at right now. All you do see and feel is the pain of your life, the pit you put yourself in. For what ever reason your in this sitution, carries the benefit of not making the same mistakes again, and yet the burden of bad credit, no job, no money haunts you like a nightmare. You tried this, you tried that, you want it to happen over night; thats how bad the sitution is for you; and then one night the tv is on and someone states no money down; you look with anger in your heart because here is someone trying to make money off my suffuring, that is why its on late at night. You sit and listen, hoping the light bulb goes on, you want it to work, you want to beleive it works; so what do you do? You spend your last on the books, you join the program, and all at the same time of these actions, your stomache is turning and you feel like a fool; saying to yourself, I know I am making someone else rich. They say you must be around people of like minds, so here we are networking, giving each other information. I think we as a community need to step it up. Before I go any further, I will thank Dean for this forum, it gives us the opportunity to breathe and find strength in ourselves and each other. In saying that, if there are any strong buyers out there, let me know how we can make some money together.
Dadimici_construction@**** or give me a call at 6463227385 or 9176511355.
Thank you Al for your honesty. Much appreciated.