Christian Osgood says the asking price shouldn't dictate your offer. Focus on what the seller actually needs, do proper underwriting, and price based on deal economics. You'll close deals well below asking if you stop treating the listed price as a ceiling.
Chapters
This right here, this is why you're not buying deals. You think the price is part of the initial deal. It's not. Now, at the end of your deal, you do have to come up with a price, but the asking price doesn't matter at all, which means if the price is too high or it's unlisted, you still call, you attack it the same way. You figure out what the seller actually needs and you negotiate that. Your price is unaffected by the asking price. Now, it's an indication of how likely they are to actually accept your offer, but I've had deals where it's been millions of dollars under asking because we figured out what they needed and we got there. So stop negotiating off the price. Figure out where the deal works, do your underwriting the same way, and just insert the price where the deal works for you. That's where you're going to offer every single time.