Offer rule?

I am currently scoping out RENTAL property in Houston. I see the listing price and wondered if there is some minimum % I should offer at.

For example, a home listed at 100k that comped at 100k.

The market, that I know of, is not scorching and there are many properties to choose from anyway.

Even though this is a buy and hold prop, making money at the table is a must and will lower my down + monthly. Every penny counts :smiley:

O.K. Ready for the strangest answer you will get I offer about 15%-20% below appraised value. On the other hand I will offer on ten to twenty properties at a time and end up getting a counter offer on 1 maybe 2. On the other hand I never look at them first.

I have heard answers like that before :smiley:

I am not trying to flip the prop so I don’t need a huge find and property quality matters a lot so no low income or junker areas.

I figure that if I buy the prop to LO, I will want at 10% under appraised value for smaller properties. Anything more is gravy.

I think in a market like Houston, I should be able to get some nice properties using this method. offers offers offers.

I figure it like this if your looking for 10% off. Offer 7% below plus 3% seller consessions.

Just so everyone understands that that is asking seller to pay 3% of buyers closing costs!

I would probably ask seller to pay closing costs. The property would be under 100k so not too much.

Finding a property 7% under appraised value in a buyers market with a surplus of homes should not be too tough.

Should be to easy I personally would try harder like 15% or 20%

oh yea of course. I am just coming up with the “I am happy” figures and those look to be easy to obtain in the market I am looking in.