First Purchase Process

[Theodore Gibson]

I'm a new investor, and this will be my first purchase so please bare with me. My plan is to purchase a duplex as an owner occupant using an FHA loan.

I’m currently struggling with the fact that right now in my area (Minneapolis, MN) it is a seller’s market.

When looking at potential properties, should I have an appraiser with me to determine the true market value of a property? Then based on that information make my offer below market value? For a lot of the properties I have viewed -the list price has been set by the seller and these homes aren’t on the market for very long. As an investor, how does one find deals in this type of market? Or should I wait it out until the market changes?

Any advice would be much appreciated.

-Theo