Offering low on a property that's been listed for a while

[Laurie Falk]

I'm looking to find my first investment property in the Richmond, VA area but kind of at a loss on where to start. I've heard a lot of podcasts and read a lot about sending out post cards and going to the courts to find the opportunities, but I'm not sure that's the greatest choice since I'm not in the position to pay all cash yet.

There are a handful of houses that have been on the MLS for quite a few months, some that look like they're being sold by owners, but some by the bank. Is there any value in looking at these and making low-ball offers? A price that may be more realistic to the market, area, or what the house needs, not low just to offer low. Would it be easier to go after the bank-owned or the person-owned? I've seen a lot about not insulting the seller with low offers, but should I even be concerned about that? I don't know these people and if they say no and don't make a counter, I can move on to another house.