whats considered a "good deal"?

Question

Hi All,

Let's say I've identified that Im looking for a certain type of property in a certain area, I start my search and I see all the properties in front of me, what should I look for and say aha this is the one, this is a good deal as oppose to the others? (lets say my strategy is the buy- rent- hold- refinance)

Abraham Shamosh · Answer

Thank you for this detailed response. Most of the properties on market are not a deal but i heard on podcast so many times you have to make a deal so I want to know which ones have that potential to "make" a deal with after I buy for market value.

Andy Webb · Answer

Which one checks all of your boxes?  Meets all of your investing criteria?  Criteria might include absolute cash flow in dollars; cash-on-cash return; equity captured in dollar or percentage terms; minimum property age; maximum rehab; cosmetic rehab only or some majors ok; location; square footage requirements; configuration 3/2/2, or 3/1/2, or 3/1/0 or etc...

Account Closed · Answer

Beyond basic analysis- which you should learn- there is something else you should be mindful of-

Once upon a time what was condsidered a good deal was one that actually generated profit/income when you bought it.. now a days, it's devolved into one that might if the current "trend" continues for you.

Borderline Bitcoin mentality.

Ian Walsh · Answer

I usually consider a good deal to be purchased at 20-30% of the ARV on a SF.  True ARV.

Schneur Sanowicz · Answer

@Ian Walsh just saw your reply with 20-30% ARV. I'm a rookie. I'm 20 years old and looking to buy my first property. I saved 50k but I don't know what makes a good deal I think that's what is holding me back.

Isaac Pepper · Answer

@Abraham Shamosh

Completely depends on your own strategy

whats considered a "good deal"?

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