I drove around my neighborhood and found a few properties that are FSBO. I have reached out to all of them and so far only one has called me back. I am going tomorrow to view the property but I just wanted some clarification. Does a FSBO use a realtor? and how much information or what/how specific should I be to get a good solid set of numbers for a calculation. I want to do the math exercise and so I guess I am asking if anyone with a little experience can guide me to what to ask and how to figure it in to see if it is a DEAL or NO DEAL. Thanks. I have tried tweaking the numbers for a flip vs a keep and hold rental and just kinda stuck a bit in analysis paralysis.
For Sale By Owner inherently means the owner is selling it themselves. When you get there, if they know what they are doing, the owner should have a data sheet on monthly expenses (heat, electric, water, sewer). Then you can use those numbers to shore up your calculations. When you're touring the property, keep a keen eye open for potential repairs needed. Ask them why they are moving, it will help to gauge if they are serious or not.