Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 15 years ago,

User Stats

9
Posts
0
Votes
Chris Wyatt
  • Texas
0
Votes |
9
Posts

My first offer!

Chris Wyatt
  • Texas
Posted

Wednesday (10/7) I'm going to make my first offer on property I found. An elderly man lives there and has been there 51 years. He's the original owner. I went through the house to estimate repairs. I really hope I'm estimating right. It's a 1300 sqft 3/2/2 house. Needs carpet, new windows, paint, and totally gutted kitchen and bathrooms plus a few other cosmetic things. I came up with $20K in repairs. The ARV is about $100K.

So I figure my offer should be $45,000. Does this sound ok? Should I get an attorney to help sign the contract? How long should I give myself to find an investment buyer? How does an investor see the house without bothering this owner too much as he still lives in it?

I'm trying to get past my fears, but I guess all first time investors get it. I'll never learn if I don't actually do it though.

Thanks!

Loading replies...