I have good amount saved in the bank and want to start rental properties. Not sure where to start and how to know it is a good deal and how to get buyer to 80% of the value. Any pointers on where to start. I am afraid I am getting into “Analysis Paralysis”
Residential Real Estate Broker · Advance, NC · Member since 2015 · 23 posts · 4 votes
7y
@Nizar Noureddine I would definitely use the BP calculators, they are a great way to help you see if it really is a good deal or not. You also need to look at the area prices where you are purchasing. You want to know an average sale price for the type of property you are buying in that area since each area will vary. Then take into consideration rehab and maintenance and average rental rates.
The other thing to consider is your purpose for having rentals. Are you looking for immediate cash flow or are you considering forced appreciation, tax advantages, etc.
Finally, do not forget to take into consideration screening tenants and the management of them once you have them.
If you share the area where you are located, I can give you some better tips and would be happy to discuss it further.
Investor · Glen Burnie, MD · Member since 2019 · 51 posts · 26 votes
6y
Good Evening @Brandy Morton I am an investor looking to learn more about the Elizabeth City market. I'm currently working in Buy and Hold and Syndication. Lets talk, I would love to know how I can bring you some value.