Question about an offer on a VA Forclosure

[Paul S.]

Hello BP community and thanks for reading my question. I was wondering if anyone has an idea about how much under the listing price one should offer on a VA Foreclosure. I was thinking of making a ridiculous offer since it has only been on the market a few days and waiting to see if they come back with a counter or if they come back with a submit final and best offer by a certain date. I know what my max is to make this a cashflow property but I obviously want to pay the least amount I can get away with since this is really my first time buying a property for the sole purpose of a buy and hold.

This for a 3bd 2ba condo built in 1992 with a tax assessed value of about 68K. I know there are a ton of other factors to consider such as rehab cost that need further analysis but if the asking price were about half the assessed value should I go with a conservative offer or is there a percentage of the list price I should go with?

I am also not afraid to walk away from this deal if the numbers do not work out for me.

Thanks for any suggestions.

Paul