Started calling on some FSBO. Found one owned by bank. Foreclosure and fire. Nice lady told me that recent appraisal before fire was for 36k and they were asking 30. However she made it a point to say if I had financing and put in a offer they would be willing to let it go for a “lot less”. She said fire damage is around 3k. I haven’t personally seen all details so I’m not sure if thats correct. Should I go lowballing since she made it seem like they wanted it off their books. My exit strategy is to rehab, refi, then rent to own or L/O. Its a small house in a below average nieghborhood. Strong rental market here. Probably would rent aroun 430-450.
Another question, could I get a HML for such small amount
Located in West Virginia
Thanks