Hello everyone, I was wondering what the components of real estate investing are. Does anyone have a checklist they use to help ease the process of buying. What things should I know and keep in mind when I buy. I know there are things like property valuation,market analysis, finding a broker, etc. but can someone please give a list of things that are crucial to keeping mind when going through the process of buying a property.
Short List in no particular order:
1. Curb Appeal - What does the building looking like? Will I be able to charge market or premium rents with this unit?
2. Neighborhood: Would my tenants want to live here? Or are they forced to live here?
3. Rents: What can a similar unit charge for monthly rent? I always factor in a conservative average number for my financial models.
4. Repairs: How much money will I need to spend to get this house up to code?
5. Terms Of The Deal - What's my bidding price? How low or high am I willing to go?
6. Time: How much time will I commit to this property? What will I do? And for the things I won't do, who will do them for me?
7. Comparison: What makes this unit special compared to the other X units I saw?
Best of luck!
Jordan Thibodeau, Check Out My BP Blog | https://www.biggerpockets.com/renewsblog/author/jordanthibodeau/ | Podcast Guest on Show #74
Thank you the list, especially number 6. Also checked out the podcast and it was great stuff.
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