1st home viewing

[Alexander Zurn]

Hello BP,

I will be looking at my first house (SFR) this coming Saturday and I was wondering what I should keep my eyes on? You should also know I am more than likely not going to buy this but I thought the experience of going into a beat up house might just be helpful for getting some experience under my belt.

I have read posts on financial analysis, pro-forma vs. actual data, income & expenses, ROI, CoC, etc. but nothing can prepare you like actually doing it. How do I determine ERC if I have never renovated something? Do I take note of the bad that stands out and come home to look up how much it would all cost to rehab it? I want to do this so that I can go through the data, the income, the expenses, everything and determine if it is a sound financial investment and then maybe share my results on here to see if people agree. Practice makes perfect!

Thanks!