How to make competitive offers!!!

[Simon Y Kim]

Hello all,

I am fairly new to the real estate investing world but I have been at it for about three months trying to get deals to work out with on-market leads. However, it's been pretty difficult winning a bidding war. Most of the properties I am targeting are distressed or outdated and my plan is to fix and flip them. 

This is what my offer includes...

• ALL-CASH offer
• Inspection Contingency: 10 days
• EMD: min $1K
• Escalation Clause

In the bidding wars, buyers/investors are waiving inspections which I find risky... yet their offers are stronger because of it. How do you know when to waive an inspection and what are the risks to take into account? 

[Steve Morris]

You need to find a good inspector, ask a few RE agents.  These guys live to tear properties apart, so you'd have a first pass and I think in a very short period (assuming access to attic/crawl) he could give you a pretty good swag.