All Forum Posts by: Heston Vaughan
Heston Vaughan has started 5 posts and replied 15 times.
@Heston Vaughan the line up wasn't perfect, first one is the deal, second and third row are the comps
I have been look at this D class property that needs a lot of work and was trying to find the avr. Comps in the area are pretty scarce, so I did my best and found these 2. Based on what I have here what would you say the AVR is? I realize more data is better, but this is what I've got right now. And I realize d class would be a lot of work. Thanks! Deal. Comp 1. Comp 2
Beds. 2. 2. 2
Baths. 1. 2. 2
Sq feet. 925. 1073. 1487
Lot size. 11,000. 5,500. 14,800
Yr built. 1950. 1995. 1965
Sold price 32,700. 37,000
Pr/sq ft. 30. 24
@Bradley Sriro because im looking at a low income property and can see that one street matters a lot
@Bradley Sriro thank you for the help. I'll practice finding my own comps. What if there are no comps?
@Ari Hadar also do you consider the calculators to be accurate
@Ari Hadar I'm currently using dealcheck which I'm pretty sure is made by zilliow
I've recently gotten a great interest in real estate. I want to start analyzing several deals a day so that I can start getting used to the numbers and be able to see what looks like a decent deal right off. What methods do you all have?
I have an app that finds comps and such, but I'm not certain how accurate it is. Thanks everyone for the help.
@Heston Vaughan BTW, no one understands the obsession or cares as much as I do. So looking for that too
Okay so I'm looking for some friends to bounce ideas off of and learn with. Preferably fairly young males and noobs. I'm 20 years old with no experience but learning a lot. Maybe we could start a discord or something. Nice to meet everyone
Originally posted by @Nick Robinson:
@Heston Vaughan I personally have no experience buying homes for under $50k so I can not answer your questions regarding the loan for this property. What I do want to say is I know we are all chomping at the bit to get that next deal especially if its our first deal, but you do not want to make a bad deal. Most of the time when you go to those lower income areas you will have more issues than you can handle. Especially being such an inexpensive property I can not imagine the monthly cash flow would be good and if it is it will be a very small number. That means if one issue happens your going to have to do a pocket shot and like you said if you do not have a lot of capital that issue can take you down. Just my two cents
The reason it seems like a good idea to me is that there are houses up for less than 20k and yet if fixed up their rent would be at least 500 a month. Thank you for the time!