What’s the lowest offer/bid on a house and what happened?

[Edward Shen]

Hi everyone, I am new to investing into real estate and always think what might be an appropriate bid. I saw forum and video of just doing the math and putting in a bid that works for you, even if it’s super low.

So i was curious, what was the lowest bid you ever offer on a property and how it turned out.

For simplistic format, if you can state the following:

Asking price, the % you offer on the asking price or what you offered, Did the seller accepted,rejected, or countered (with what), and what was your experience?

Thank you and curious to hear your story!

[Stephanie Simmons]

@Edward Shen

List price was $202k REO. I did the math (super conservative) and figured $149k offer would net me between $25-$28k. Bank called last and final 3 weeks later. I redid the math - tried to figure out ways to make the rehab cheaper but left my "oops fund" alone. Offered $168,407. They called last and final 3 more times. I offered the same amount (all between Oct and Feb) every time. They accepted and we closed in 4 business days.

Just listed the place and it is under contract for $21k more than I originally thought (6 DOM). Also cost more than I thought. But I made out way better than I thought on my first fix & flip roughly $40k.

Lucky the market is so hot right now and inventory is so low.