If your familiar with the bigger pockets podcast they talk a lot about "making deals". In this post I want to ask a question on how to really put that quote into action. Something I think of when "making deals" is adding another room to a 3 bed room to increase value. Can someone give me some tips or things to look for when trying to "make your deal"? like what is an example of seeing something and knowing you can add another bedroom or other things to look for and act on to add value that other people missed to a property?
You have to look at low hanging fruit. As an example, I occasionally come across a legal 2 family home being used as a single family home. If the property is still zoned for 2 family, you can just convert it back and rent out back sections. Sometimes it depends on the physical layout. Other options might be to find a property with a large garage on the property that can be turned into an apartment. Most of this depends on the types of homes you can find in your area.