First property advice

[Francisco Perez]

Hey everyone! I'm going to see my first potential lead tomorrow and I wanted to know what questions, concerns or contingencies you had for your first property. The market that Im working on has a tendency of having properties listed for a while but they usually sell pretty quickly. The property has been on the market for 30 days, so I'm going to offer below asking and start negotiating after that. It is a SFR w/ 2bed/2baths with an office (hidden 3bed/2bath) and its priced 30-40k below the other properties around. Also, I am planning to make the property a 3/2 ASAP and I already have some potential tenants for the property, making it cash flow positive since day 1!

My concerns coming in are how to negotiate the property well, and how to keep an analytical mind when it comes to buying properties (especially the first one!). Thanks in advance for the help, super excited to get started!

[Adam Mittermeier]

@Francisco Perez it sounds like you already know the metrics to this deal. If the property is already under market value, I think it's ok to start at a lower offer, but don't be afraid to give them close to asking price if the numbers make sense anyways.

Many investors are set on wanting to get a property for dirt cheap and end up getting easily outbid by a seasoned Investor that knows their numbers and can give a fair offer.