Got my first call...oh no!

[Christopher Holt]

I'm just starting out in wholesaling and am sending out yellow letters. 3 days in and I have just over 60 letters sent...BAM! I got a phone call :) I'm very excited to have already received a response and I just started researching the property. To my surprise, this house has been listed for over a year starting at $1.6 mil and now listed at $1.2 mil. I elected not to limit my list by price of home as the cost of the list doubled. This property is owned by a local broker and I'm not sure how I want to approach the call back. Should I go ahead and indicate a 65% of value offer subject to inspection and risk losing a potentially valuable relationship?

I knew the first call back would involve some learning...this is a bit of a shock though!

Thanks for any and all advise.

[Joshua McGinnis]

@Christopher Cafferty 

Be honest with the guy. There's no reason why you can't say something like, "At the price  I'd be willing to pay for this home, it might be a bit too high for what I can invest in right now...but, do you mind if I run it by my "partners" and see if they might be interested?"

The worst thing he could say is no, but at least you'd have preserved the future relationship.