A real estate agent explains how to pitch offers to sellers: guarantee they recover their original purchase price, then anything above that is profit. He suggests targeting 1.0 to 1.2 times what they paid, based on a 2.1 metric.
Are you pitching deals in the deal room? Daddy always taught me, offer them at least what they have in the property. So if they bought it for $487,500, offer them exactly $487,500. Right. And so then at that point, all the rest of that money is what they call house money, right? It's extra money for them. They got, they got their money back unless they owe, unless they went leveraged it again. That's none of my concern. But anyway, bottom line, this is not a buy at ask deal, because again, it's going off of that 2.1 thing. But the target offer here says 1.0 to 1, you know, 1 to 1.2, and I think that's a, a fair situation.
