How do I know what deal is good and what deal is bad deal?
What should I look for in a property?
@Adil Azad without sounding harsh, that's an incredibly broad question. Perhaps you could tell us a little more about what types of properties that you're looking to invest in whether it's single family, multi-family, apartments, commercial, etc.
That being said, I'm sure we can help you look at some deals on here. Post up some links to properties that you're looking at and let us take a whack at them!
@Ben Sears multi family houses
@Adil Azad as with any property, a good deal lies in the numbers. if we're talking in the realm of duplex/triplex, etc. there are a number of things that make it a good or bad deal. I like to work backwards taking the total annual rent and subtracting out maintenance costs, rehab, utilities, etc. This also is dependent on your threshold for maintenance and remodel work. There is a big difference in buying turn key vs a property that requires a remodel or a gut job. I would head over to the calculators on BP and plug some numbers in to see what works for you. Post your results and we can help you evaluate your properties. You can check rent rates for free at places like Rentometer and a few others.
@Adil Azad I’m not trying to be mean at all by saying this but you should read the forums, blogs, etc. listen to podcasts a little, watch YouTube videos. This stuff is discussed constantly around BP and other RE resources and you need to give us more detail. If you bring us a deal and your criteria we can help you decide if it’s a good deal for YOU. But a good deal to me may be a terrible deal for you and the same is true for you to me. You should read up a little and let us know what kind of things you want out of a deal, your goals, what kind of numbers you want, etc. and bring us a deal you have in mind and many people would be happy to go over it with you.