[Audio] Brilliant at the Basics Part 11: Why a Ball Park Offer Is Better than No Offer and How to Calculate it » Peter Vekselman

Summary: In this episode, we’re on part 11 of our awesome series about keeping things simple in this business. My business partner, Peter Vekselman, and I want to remind you that the fundamentals are what’s going to help you succeed in investing. In today’s episode, we’ll cover how you can quickly estimate comps and repairs, so you can quickly make offers. It doesn't have to be complicated – don’t look for the perfect deal – just get it close and make the offer and go from there. We’ll show you how. Let’s get to it… Listen and Enjoy: What’s inside 1:55 – How to keep things simple when making an offer 4:27 – How to handle offers on more expensive deals 5:20 – The awesome stuff that Peter says here – that Joe suggests you even rewind and listen to again 9:40 – How to calculate offers Mentioned in this episode Joe and Peter’s <a href="http://www.freebasicbook.com" target="_blank">Brilliant at the Basics</a> free book <a href="http://www.craigslist.org" target="_blank">Craigslist</a> <a href="http://www.zillow.com" target="_blank">Zillow</a> Peter and Joe’s <a href="http://www.peterandjoe.com" target="_blank">Apprenticing and Partnership Program</a> Tweetables [Tweet "We tend to make making offers really, really complicated, but it doesn't need to be. Keep it simple"] [Tweet "Simple strategy: Make as many offers as possible b/c the deal doesn't start til an offer gets accepted"] [Tweet "Don’t waste time on preliminary work - put offers out, then do some due diligence in the back end"] Transcription: <a href="http://www.realestateinvestingmastery.com/wp-content/uploads/2015/03/REIM-BATB-11-Brilliant-at-the-Basics-Part-11-Why-a-Ball-Park-Offer-Is-Better-than-No-Offer-and-How-to-Calculate-it.pdf" target="_blank">Download episode transcript in PDF format here...</a> Joe:      Hey everybody, welcome, this is the Real Estate Investing Mastery Podcast and we are back with another Brilliant at the Basics podcast series, and today we are going to be talking about making offers on properties and how to keep it really, really simple. How to quickly estimate comps, how to quickly estimate repairs, it doesn't have to be complicated and you know what? It's okay, just get it close and make the offer. If you want more information about working with me and Peter where we can set up all your systems, set up all your marketing, give your business in a box, go to peterandjoe.com, peterandjoe.com. We also wrote a book about all the things that we do. The book is called "Brilliant at the Basics," and if you just want our book you can go to freebasicbook.com, freebasicbook.com. But Peter how are you doing? Peter:  I'm doing great, thanks for having me on again. Joe:      I love doing these shows because it really, it's helpful for me to just remind myself of keeping things simple, right? We tend to complicate this business, at least I do, and a lot of people I know listening to this get overwhelmed with all of these huge amounts of information. I mean in the internet today, you can get so much from different websites and forums and Facebook and you just bombarded with emails and information and it could get intimidating and really overwhelming when you see all of this stuff that's coming in and you are like, what do I do now? And then when it comes to making offers, case in point, we tend to make this really, really complicated, really difficult and it doesn't need to be. So Peter talk real quickly about why it doesn't have to be complicated. Why-- how do you make it so easy? How do you keep it basic? Peter:  Well, first of all, the thing that really I think complicates it for so many investors is the preliminary work they tend to do before making an offer. You know, you hear so many times new investors, sometimes even more advanced investors, they do a lot of research ahead of time, you know. They are combing the property, they are trying to put-- sometimes I even hear people driving out to the...