Posted by tarun_md on February 15, 2000 at 20:42:43:
Just set up an appointment with the owners and make an offer. Make sure that you have some idea of the repair costs. If you are not sure of the the repair costs, just make an offer assuming the homes need everything with an inspections and approval contingency. The point is to get the houses under contract so that someone else doesn’t “steal” it from under you. Once you have it under contract, take a contractor with you to get the repair estimates. If the estimates are more than what you guessed, renegotiate the deal. Always know your back door i.e what you want do achieve from this deal…do you want to wholesale it? Do you want to retail it??..or what?
Most importantly, act like a professional investor in front of the homeowners and always carry a contract with you with the necessary contencencies that will make it a good buyer’s contract.
Hope this helps!
Tarun from Maryland