help with structuring offer

i’m brand new and have been attending short seminars regarding wholesaling to educate myself. i still need alot of help though. can anybody assist me please.

there is a junker that just went on the market by owner. i want to make an offer but i don’t know how. i think i’m suppose to use a purchase seller contract. what do i offer the owner besides the price i’m willing to buy it at. how do i tie up the contract while i look for another investor to pass it on to?

just starting

Howdy Just Starting:

I like the one on one approach FSBO. You can just sit down with them and work out the contract form with them. Just get a blank contract form from you local title company, on line at your local real estate commission, or from a friendly Realtor. Always ask for more than you need or less if it is money out of pocket. If he is asking $50,000 he will for sure take less perhaps $45,000. I am usually real friendly and just say something like what is your bottom dollar price if we can close in 30 days or less of course if you can. Let them know you are new and they will help you with the form. Try not to let them know that you will be reselling the house as that may run them off at first.

If you can not wholesale it you may be able at least to birddog it to another investor and still make some money on the deal. Knowing this will give you some confidence to get the thing tied up and on your way to getting it resold.