Finding a properties “Homerun” number?

[Camden Keller]

Hello everyone I am fairly new to BiggerPockets and have enjoyed reading all of the conversations I have found on the site! I am a young individual just starting to learn as much as possible about real estate investing my personal goal is to find and rent or house hack my own property. I have been reading and researching all that I can.

My big question as of now is how are people finding the ideal “Home run” numbers or price that makes a property worth even looking into. Maybe some simple equations or other ways to run the given numbers on a property to find the purchase price that is going to make cash flow

Any and all advice is welcome! And of course, thank you!

[Larry Turowski]

Originally posted by @Camden Keller:

@Larry T. Thank you for your response! I understand not every deal is going to be a complete home run. I have read about the 1% rule before but the one thing I do not understand about the rule is determining a properties potential rental value how would you recommend getting a general idea on this number?

Do what you would do if you were a renter.  Check out rental listings in the neighborhood on Zillow, Craiglist, and anywhere else you can.  You can also check out rentometer.com, but I prefer actual listings where you can look at pics, too.