Making offers

[Vincent Mcarthur]

I have made several offers (more like 15) from the MLS that have not been accepted. My goal is to fix/flip or wholesale. I am putting in the offers 65-70% below market value, but nothing accepted. Should I use a different formula if I going to wholesale a property? Should I continue using the 65-70% and just submit more offers. I am located in south florida, I have been looking at handyman specials and REO on the mls.

[Mitchell L.]

MLS= Retail.. If you want to wholesale or do fix and flip, you need to buy them at wholesale prices and since our market is so competitive here in South Florida, you have to do direct marketing or have an agent literally study the MLS 24/7 and monitor properties that have significant price drops and study patterns. For the REO's, Fannie Mae/Freddie Mac will only accept offers 97-98% of list price so low-balling them is a waste of time. Most of the other banks are the same..

Good Luck