short sales listed with an agent

[Dan Miller]

I'm a newbie, looking to wholesale. I've been farming thorugh my realtor/MLS in one specific neighborhood, where I'm getting very used to the house style, ARVs, and repair costs. Problem is that 85% of the listings are short sales, and I don't really know how to do those. More specifically, given that they are listed with an agent, I'm sure that agent doesn't really know how to negotiate a short sale any more than I do
(which is not at all right now).

Should I even bother putting in low all cash offers on those properties or just skip right on past them? My current approach is to go at 65% of ARV - rehab costs - wholesale fee to get to my max offer. Obviously, the bank loan is more than ARV or it wouldn't be a short sale. Am I wasting my time making offers on these listed properties?

Thanks,
Dan