Hello - I had a post similar to this before, just looking to keep experimenting and learning how to correctly analyze properties I may be interested in. Is there a way to attach documents to a post?
I found a property in my searching that is a short sale and looks like it would be a great deal. Can anyone help take a look at my numbers and tell me if anything looks out of line? The property is located here:http://www.realtor.com/realestateandhomes-detail/578-580-E-New-York-St_Aurora_IL_60505_M87021-59623
Again, im interested to see how accurate my numbers look (ie taxes/closing costs/cap ex/rent/ect.).? I'm starting to get the hang of the spreadsheet and where to look in my search for justification of numbers.
Disclaimer: I didn't look at all the figures - but it does look like you're getting the hang of analyzing a property to death. The three outcomes I look at first are: Cost; ARV; and ROI.
Number one rule for me: I want to see MY Cost to be no more than 70% of ARV. (ie: fail).
Everything else can be a moving target, contingent also on OTHER factors than just statistics.
eg. It's a duplex - with just ONE driveway - shows cars being parked, blocking that driveway?
Again: fail. Get what I mean? Thanks for sharing. Keep up your good research. All the best...
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