How can you tell if your getting a good deal?

Question

i have been looking at getting into the real estate investing with buying rental properties and everywhere i look seems like a good deal but i would like to know if there are any certain ways you determine if what your getting is actually a good deal or going to be a bust? what i have looked at i just see what the houses in the neighborhood appraise at then how much repairs are needed on the house and put the numbers together to come up with an offer im sure im leaving something out but dont know

Shane M · Answer

Thanks for the spreadsheet and the tip on heading to that forum!

Jon Holdman · Answer

Do some reading in the landlording forum and the deal analysis forum. Lots of info there.

Comps are largely irrelevant if you want to hold as a rental. They only tell you if you're in the right neighborhood for rentals.

My dead simple analysis spreadsheet is here:

http://spreadsheets.google.com/ccc?key=pfsaXr8yUN2SbBUeByGKzRg&hl=en

You'll have to create a google account and make a copy to input your own numbers.

Adam Black · Answer

Wow, there is a lot missing here. Fortunetly there is a wealth of info here. Give us some more to go on. What is your end use? This will be the most important thing to start seeing if the numbers are right.

How can you tell if your getting a good deal?

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