Purchasing a house Wholsale from another Investor/Seller.

[Cass R. Smith]

I sent out one yellow letter and recieved a call from the seller that same day. I'm meeting today to make an offer. It's for a property in Richmond ARV is $144K and approximately $12K-17K in repairs needed. It's in the 23234 zip.

The seller is an older investor who looking to liquidate his rental portfolio.  When I first heard this I assumed I wouldnt be able to get the property for the price I'd like to offer ($25k-$35k) but now I"m thinking it may be a good to throw my offer out to him and/or see what other properties he may want to get rid of.

Anyone have any situation similiar to this? Seller is also an Investor.