For those of you who are looking at investment property this article from Bigger Pockets has some good information on how to approach the offer table.
- The summary version is as follows:
- Get to know them on the phone
- Get to know them in person and thoroughly inspect property
- Put together the numbers and make offer including the following.
- Letter of intent to purchase property
- Proof of funds
- Testimonials that you may have
- Estimated costs of what it would cost sellers to fix home themselves
- Walk them through the math and benefits of selling to you today
Good luck in your investing endeavors!