Low Ball Offers Post COVID

[Tia Wilson]

Hello everybody. I know yall busy so I'll be brief. Houston RE has slowed down slightly but its still HOT. I'm a BRRRR newbie looking for my 2nd property but im having a hard time getting my offers accepted due to low offers. Fixer uppers are listed for dang near market value and they won't accept a penny less. Im shook bc folks are buying them! Most HML are only lending 70-75%ARV so im factoring that and the extensive rehab cost when making my offers. Ex. PP-$129K, ARV $160K and repairs needed is $30-$40K. HML will give me $112-$120K for purchase and rehab. I had to give a low ball offer. Since my budget is limited my fixer uppers need some serious work. I understand I have to be patient but wanted to make sure im not making a bad name for myself with these low ball offers.

How are the VETS navigating this post COVID RE Market? Thanks yall.