I have a seller that wants $65k for a home zestimated at $98k and still willing to negotiate. How much lower should i go to keep from killing the deal? I estimate repairs at 10k…
Figure out what the profit you want is and offer that. If you read your Bible it gives you a perfect example of what to do in Leviticus 19:10 when it says to not glean the filed. Make your deal but if you try to get every last ounce out of it you make the world a worse place.
If I need to say it in atheist language “don’t get greedy”. Make your deal but you don’t have to gut anybody.
I was thinking about offering 52k. 3k my profit does that sound reasonable?
Umm, never go off just the zestimate numbers. You need actual comps from a realtor or someone with mls access. Hw much repair needs done on the home?
1st, you need comps to make sure your numbers are accurate. You also want to see check those handyman specials and ‘as is’ sales are going for to give you an idea what investors are paying. 2nd, be conservative on your numbers to give room for error. 3rd, if those numbers are accurate you can probably make 5k on a 55k offer, but dont be greedy.
Before I can help you with that one it’s sorta critical to know our exit strategy.
Don’t make an offer until you know what he’s willing to take. What if you fire off an offer for say $50k but never even know he would have taken $35k? Once you’ve put your foot in your mouth you’ll never even know you could have got it cheaper. Too late now.
Instead let him make the offer to you. Ask him “if I paid you all cash and close quickly what would be the least you could accept?” Then no matter how low his number, then ask “is that the best you can do?”
Sorta safe to assume he wants to wholesale it…since we’re in the wholesaling forum :lol
Verify that estimate on ARV is correct. Online estimates are ok but you should really get a solid number. Good luck.