How to Analyze Live in Flip Property

Question

I am currently looking to purchase a SFH in Roseville CA. I am not going to rent by the room but am hoping to find a nice property in a well desired neighborhood that I can do light cosmetic work to add some extra value. I am having difficulty in understanding how I should go about analyzing a property to purchase. I feel like buying a home in a good neighborhood such as Roseville in general would be a good investment but I want to try and maximize my outcome.

Ranjit Sandhu · Answer

@Tristan Romero I’m a real estate broker in rocklin. I just sold one for $485k in rocklin and the rent they started getting is $2300 if that makes any sense. You need to get best if the best deal. All the best!

Gordon Cuffe · Answer

@Tristan Romero If you are trying to buy a home with equity then you look for properties that need updating. You then find out what is called the after repair value aka ARV to see if you have any equity after you updated the home.You can check on zillow or with a realtor to find the ARV.  If you are going to rent out the house, you can go to zillow or rentometor.com to see what similar homes are renting for. You can also check with property managers to see what comparable rents are. I have lived in Roseville for 20 years now so if you ever have questions about certain streets, you can always PM anytime.