Making Offers

[Drew Gedemer]

I am investing in northern Chicago (lake county IL) and was wondering how folks estimate how much they believe they should make an offer on.  Is there at least a "bench mark" of 70%o r 80% of what you believe the value of the home should be when evaluating sending offers?  Obviously by looking at 70% value of the home the buy and hold calculator numbers look good on a number of properties in my area, but is that a realistic price to get a pre-foreclosure or foreclosure?