Contract Flipping: How to get a home under contract?

[Johnny Wu]

Hello all,

I am just starting out in contract flipping. I have zero real estate experience so I'm hoping to learn from all the more experienced pros here.

I already have a list of cash buyers, I have created a purchase contract and an assignment contract that has been checked by my attorney. So now I found a house wayyy below ARV and needs alot of repairs, but it is also listed by an agent, and there are alot of buyers in the market in this area. How do I proceed to get the seller under contract? What advantages do I have to attract the seller in signing the contract with me instead of going with offers from their agent? Do you have a strategy for approaching and negotiating the seller? Could you show me an example of how to negotiate the buying price with real numbers? the property is listed for $280k, and the ARV is $420k which I estimated from the nearby 3 similar homes sold within 6 months.

Thank you so much!