Fannie Mae /REO

[Kelvin Schaeffer]

Looking to put a offer in on a Fannie Mae / REO property.This 4plex has one accoupied unit,is in need of some cosmetics repair possibly more, asking price 379,000 would like to get it at 70% of asking price any suggestions on what should my first offer be.

[Kyle Gregg]

Run the numbers for the property and make sure it works for what you plan on doing. Go up to the blue bar under "analyze" - "rental property calculator" and plan out what you need in terms of cash flow. From there you can work what your maximum offer can be and don't go over it.