Meeting with the potential seller

[Jim Kalish]

Hi friends.  I'm getting ready to start reaching out to owners of distressed homes.  One of the questions in the BP calculator is how much profit I want to make.  Then it dawned on me.  When meeting with a potential seller, and explaining why their home isn't worth the same as their neighbors fully rehabed home is, how would I respond to them asking me how much profit I plan on making.  I know I'd ask that question of someone telling me my home is worth less than my neighbors.  Any advice would be greatly appreciated.

Thanks,

Jim

[Jim Kalish]

@Adam Schneider Thanks for the response Adam.  Great insight.  To date my purchases have either been from other investors or motivated sellers.  So your right, the question has not come up.  But I am about to start mailers to distressed properties.  So I'm a little concerned they will ask and then try to use that as leverage to get me to increase my offer.  Of course I will be honest with them.  But I like your last sentence in your post.  Its a really good starting point.  And maybe I'm just getting too worried about this one aspect and using it to drag my feet.  The positive responses I've gotten here are great kick in the pants to just get going.