@John T. I believe you have to decide on the metrics you are looking at for the goals you want achieve in your ownership of a portfolio. For example, my main metric is that each door generates a net cash flow of $100 minimum. If I were you, I would look at several deals I was interested in, and run the numbers on them, you will begin to notice a pattern which will help you understand your market better, and help you zero in on the metrics you will use to analyse properties. Once you understand the numbers you are looking for, you can then look at deals, and decide your offer prices for those deals and begin putting in offers. Hope this helps.
@Dorothy Butala Thanks for the insight. I will definitely try using that research method for my local market. There are so many rules of thumb on BP, but it seems that many do not apply to this type of market (99% of all properties are completely concrete). For example, factoring in CapEx for roof replacement when a roof here lasts forever practically. Also, the 1% rule seems almost impossible considering the mere cost to build a home out of all concrete. But yes, thanks for the advice!
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