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Updated almost 6 years ago on . Most recent reply
Looking for the "perfect" deal
I'm actively looking for my first multi unit investment property and I have come across ok deals, but I think I'm over thinking and looking for the "perfect" deal.
How did you get through that and what tools helped to close the first deal?
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#2 Managing Your Property Contributor
- Rental Property Investor
- SE Michigan
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#2 Managing Your Property Contributor
- Rental Property Investor
- SE Michigan
There is no such thing as a perfect deal. If you are looking for one, you will look forever.
Underwrite a lot of properties. After a while, you will be able to easily see which ones are financially viable vs the ones that make no sense. Then you will be able to distinguish good deals from bad deals.
My only caveat to that in some locations it may be impossible to find any deals that make sense. I am a cashflow investor, so I wouldn't even try to find one in a place like San Francisco.