Need help with purchasing - trying to buy my first deal!

[Jonathan Bak]

Hi,

I have been interested in real estate for a long time, and this website has great information.

I have been driving around and taking note of distressed properties, my next step is I try to find the owners information and call them to see if they are interested in selling.

I finally found a very motivated owner that wants to sell, the problem is they are asking over double the market rate for the value of their property.  Can somebody PLEASE give me tips how you negotiate a homeowner down? 

Hopefully, this will be my first deal!

Thank you,

Jonathan