I’m looking at a property which is worth $250-280 fixed up. I estimate it needs about $100k of work to get it in tip top shape (the seller won’t let me see the house,
so I am not 100% sure on the rehab costs. I did the math and worked out an offer of $80k. The seller wants $180k for the house, but I also know that he still owes $125k on the mortgage. Is it worth it to make an offer that is below what he still owes? Should I just make an offer above what he still owes, see the house, and then see if I can make the deal work at that price?
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