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!
Thank you the list, especially number 6. Also checked out the podcast and it was great stuff.
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
Join the Largest Real Estate Investing Community
Basic membership is free, forever.