How do you know if an investment property is a truly GOOD deal?
I get this question often and the answer is…there are several simple, yet effective, ways to figure out if an investment property you’ve found makes sense as a deal for you.
Let me be very clear, it’s not about whether I LIKE the property. That has absolutely nothing to do with it!
Pro Tip: Take emotion out of the equation when evaluating an investment property.
You see…to me, these houses are simply inventory. In fact, some of the deals I do these days are on investment properties that I’ve never even seen.
For me, whether to do a deal or not is determined by looking at 5 significant factors – after I’ve used these to evaluate the property, I’ll know if it’s a good deal or not.
Now, let’s dig into the 5 factors that you should
(The Simple Way to Appraise Houses Quickly)
There’s incredible power in simplifying…
Doing your own property value estimate will save you time and money.
It seems daunting to estimate the value of hundreds of properties, so most investors stop right there.
And in order to be a pro wholesaler… you have to master this. If you are 1% off… that’s $1,000 on a $100,000 house. If you are 10% off… that $10,000.
Not only will you make less mistakes, you will save time…
When I got started I made the same mistakes that most novice investors make and one of the biggest mistakes I made was spending too much time determining the after-repair value of each house.
I remember one time I brought my sleeping bag, a picnic basket, and some tunes and spent the evening picking the house apart to find my house value.
I analyzed every