I found the owner of a listed property and want to make an offer.

[Julius L Evans]

My wife and I are starting our new real estate investment business and we found our first potential deal. We want to make an offer directly to the owner and don't know how to approach him. I've listened to Brandon Turner and Ross Hamilton. Seems like going to the owner instead of the listing and other real estate agents is the way to go. But I don't know if there are certain phrases I should say. I want to prevent him from saying 'go through the realtor.'

The duplex is vacant and is for sale for $52,000. Repairs are required and I'm getting my team together. I don't think financing will be a problem but I do not intend to use my own money. It's my first deal (well, I have bought four single family homes), but this is my first RE investment deal. I estimate that renovations will be around $20K, I intend to offer $40K for the property, and both units should bring about $870. The analysis shows that I should net a CoC ROI of 33.94%.

But I'm shaking in my boots because this is our first foray into this arena. I am open to any and all suggestions on what I should say, what I shouldn't say and if I actually have to bring a realtor into the deal. I intend to apply for $70K and I intend to buy and hold this property. 

Sorry if I am a bit scattered and also, please let me know if I have put too much information out there. I don't think there is much interest in the property because it has been listed for 92 days. The area is - well, it's a $50K house. 

I am open to all suggestions. That CoC ROI comes from the Bigger Pockets tools!

Thank you.

[Julius L Evans]

UPDATE: I just got off the phone with my realtor and I am on the right track. As it turns out, this property will not work out, but we are on the case of three others already. Thank you to everyone who replied: @Evan Polaski, @Kimberly Kesterke, @Bjorn Ahlblad, @Aaron K. and @stephanie simmons. Your guidance and patience is invaluable.