Soon Close to 1st Deal, Need Advice!

[Jiana Bickham]

Hi Everyone!

I'm trying to lock up my first wholesale deal (and get to closing as my previous contracts fell through). I have a seller who seems motivated to sell property for $135,000 in Desert Hot Springs, CA. ARV is $185,000. 4 bed 2 bath 1570 sqft. Per seller house needs new carpet, paint, landscaping, and tile replaced in one bathroom (15-20K?). Tenant is month to month paying $950. My question is what should my offer be around. I was thinking $115-125. Also the seller asked about references. Any feedback on how to handle this question? Any investors/buyers in this area that can help? Thanks!