Seller wants 70k and worth 80k. What you think?

[Braden Souder]

Without really talking to the seller she mentioned on the voice mail that she's willing to take 70k and its worth about 80k and shes will to seller finance. Not sure of any repairs. I'm guessing it prob needs a little cleaning up. Haven't been able to talk to her on the phone. If I sell on owner financing I could prob get 85k for it.

Haven't tried talking her down on price yet. Any suggestions?

[Steve Babiak]

Originally posted by Michael Lauther:

Braden Souder what something is worth is a highly subjective thing. in the end it is what someone is willing to pay and that will depend on your ultimate use. If it is for rehab and flip it will require a deeper discount than if you are fixing it up and renting. You should know what the property is worth to you based on your own business plan. I am a buy and hold investor making my money from rental income. I can pay more than an investor who wants to fix and flip (not that I would do so if i didnt have to).

I find that in my desired areas, I have to pay less for a buy and hold rental than a flipper pays, so that the market rent amounts cover all the expenses of the rental. So this goes both ways ...