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.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing