When evaluating property first determine the ARV(After Repaired Value).
Here are 7 Secrets to keep real estate investors buying right:
1) Use comps that are less than 6 months old
2) Keep the square footage within 10%.
3) Keep the year built to within 5 years
4) Be on the lookout for falling values
5) Check MLS – Properties currently listed could be offered at less than yesterday’s sold statistics
6) Location – If a SFR house fronts a busy street or is close to a large commercial property/apartment/etc deduct 10% of it’s value
7) Compare to properties in the same subdivision is possible. After that book/map or a radius of .5 mile is best.
Gerald Rominewww.KickAssRealEstate.com
PS – The secret to real estate investing success lies in the system you use to buy properties right. Check out the best buying system in existence today because once you put it in place you’ll never imagine your life without it again.
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