i recently got into real estate investing and i want to know how to figure out what properties to buy. How does someone know what location is the best and what types of houses to buy, and what range of offers to put in? Any advice would be appreciated
@Saahir R. The most important thing to do is start learning about real estate, and the process. Taking a Real Estate Principles class might be helpful.
Get to KNOW your local market. Watch what is selling, the list price and the selling price. Go to Open Houses and look at the homes, and pay attention to the age of the home, construction (old, remodeled, etc.) appliances, lighting (electrical) plumbing fixtures, etc. Is it being sold as a fixer or has it already been remodeled, and/or updated, etc.? Also, what size is the lot?
When you know what's out there, and have seen some of it, it gives you a better idea of what the values are in your area. It might be good to find a real estate agent to work with that has that information and can help you.
See if there's a Meetup in your area of other BP members. (do a search) We have one in Lake Forest, CA and there's a few young guys that come to it
Also, there have been threads in the past from young investors, do a search. Good luck.
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