3 VERY Basic Things When Analyzing a Deal

[Kenny Smith]

Hello BP Community!

This is simply for beginners just getting their feet wet.  There are so many fantastic resources and information to go through on this site, podcasts, books, etc.  As all of that is great, but it can be quite overwhelming for someone who is just getting started.  To keep it dumbed down, in my opinion, there are really 3 simple concepts you need to understand when looking for a potential deal.

1. What part of town makes for a good deal?
2. What real estate strategy am I going to implement?
3. Using a cost calculator, do the numbers make sense?

Certainly there is plenty more that goes into analyzing a deal, but they all revolve around these 3 main things.  My advice when starting out, get with a great local INVESTOR friendly realtor that has experience in the area and strategy you want to implement.  They can certainly help guide you from there and worth their weight in gold if you find the right one.  And, here in CO, buyer's agent don't cost you a dime :)

Master your market on these 3 areas, and you'll be well on your way!  Thanks for reading.