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Updated over 7 years ago on . Most recent reply

User Stats

30
Posts
13
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James Hong
  • Rental Property Investor
  • Victorville, CA
13
Votes |
30
Posts

low bid disrespectful?

James Hong
  • Rental Property Investor
  • Victorville, CA
Posted
is a low bid disrespectful? I'm new to real estate investing and I think I found my first investment. it's a triplex and listed in my area for 360k.i want to submit a offer for $250k. I hear that the real estate journey has a lot to do with relationships and building a good reputation. I think it's a fair assessment but like I stated in New. the listing broker has other properties that I might be interested in so I don't want to burn a bridge. any input would help greatly! Thanks everyone at bp for creating this! james

Most Popular Reply

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2,082
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1,043
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Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
1,043
Votes |
2,082
Posts
Ibrahim Hughes
  • Real Estate Consultant
  • Bloomfield, NJ
Replied
let the realtor know ahead of time that you do not pay full value for a property. Your business model demands that you pay a maximum of 70% of fair market value or you risk losing money and going out of business. It's as simple as that and they can either take it or work with another client. And of course you're free to work with a realtor who understands your business model.

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