Re: 24 yo , real estate purchase
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(unless you stole something for +15% below current market).
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Not even close, IMO. Jesus, I can negotiate a 15% discount on FMV just from making offer on expired MLS listings, and get a property in perfect condition. You can't make money flipping on a 15% spread - the transaction cost alone will erode your profit to nothing. For a flip, I'd look for 25% minimum discount on true FMV - not a 25% discount off someone's inflated price. 15% would be cutting it WAY too close for a flip. For a rental, 15% might work. Not for a flip.
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