Haddonfield, NJ · Member since 2017 · 22 posts · 4 votes
Hey everyone,
Would anyone be willing to share the steps that they go through when screening an investment property? Right now, I do a quick 1/2% rule and if still interested I'll use the BiggerPockets calculators to run the numbers. I look to Trulia for the potential rents to fill in the numbers. But I am also looking to see any other tips/tricks that the savvy investor uses as they are evaluating the property (e.g, rate of growth of the area, near metro lines, etc.)
I'm looking for a consistent system and looking to hear your step by step methods for efficacy and efficiency
The way I screen my properties is a specific rule I have used numerous times here in northern jersey where prices far surpass the ability to use the rules on BiggerPockets.
I look for 5% in rental income after expenses and five percent appreciation at the end of the year. The best start is to purchase at at least a 5% discount.
The way I screen my properties is a specific rule I have used numerous times here in northern jersey where prices far surpass the ability to use the rules on BiggerPockets.
I look for 5% in rental income after expenses and five percent appreciation at the end of the year. The best start is to purchase at at least a 5% discount.