I have researched, read and re-read and I still am having trouble figuring out how to make reasonable offers. I don't understand how you decide if you are going to offer 20% or 30% or whatever of the FMV. I can figure out the FMV, but from there I am still not confident in what to offer the seller.
Property:4/2, 1300 sq ft, built 1963, needs 5k repairs
FMV: 170,000 (using comps, true val, trulia, cyberhomes, etc.)
I am thinking of an offer of 134K
Back door: flip to wholesaler for 5k
Property is in a saleable area, blue collar in southern calif.
Can anyone help me with this?