Analyzing a property

[Daniel Lang]

Hey all, I am just getting started and in my first deal I offered more than the property appraised for.  What should I be looking at when trying to consider an appropriate offer (especially if I can't see the property since I'm investing out of state)?

[Matthew Becker]

Well, that sounds dangerous.  Where do you live?  Where is the property?  Why in this market did you offer over asking?  Things are flat. 

What are you trying to accomplish?  

People need a lot more information to help them.  Break the deal down?

Also, where are you financially? If you have $400K in a bank account and make $1M a year, that differs from taking out a hard money loan and going bankrupt.   

Lots and lots more info will get you great advice.  There are a ton of smart, successful people who are not looking to see you as something on this platform.