Im planning on making an offer on a property worth 174,000, my offer will be 160,000 how do you guys calculate to see if this deal is worth purchasing if it worth the risk.
It’s a multi family home close to downtown it’s not the best looking place but it’s livable I wouldn’t be investing much to repair so how exactly do I know if it’s worth it I’m new to this and would really like some help.
Or even if it’s a good purchase for a beginner some say single families is better for a beginner
Don't know if you're renting or holding. Big difference in the two. Paying cash or financing? Who's doing the work? What's rehab budget, what's arv? What are rent values if keeping it?
Are you negotiating on your own behalf? Have you done a market analysis in order to determine if your offer of $160K is actually a good offer. A seller can ask for whatever they want but the market determines the value of the property. Is the property occupied? if so how much rent are the tenants paying? is it market rent? as you can see there are a lot of considerations that go into just making an offer. My recommendation is to find a local realtor who work with investors and is willing to coach you to the process. Best of luck to you