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Updated almost 2 years ago,

User Stats

88
Posts
67
Votes
Brandon Morgan
67
Votes |
88
Posts

first time investor, putting in an offer/ bid

Brandon Morgan
Posted

Hi all, I am a first time investor and I have been looking at a few multi families in my area. things are pretty competitive in my area and it doesn't look like the competition is slowing down any time soon and there are constant bidding wars. what is your opinion on bidding above asking price? it seems to be the only way to get a property that I want. I have already been approved for FHA and FHA 203k. would you recommend bidding above asking price given I am in the NJ/ NY area? and if so is there a certain percentage of the asking price I shouldn't go over?

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