Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago, 05/31/2023

User Stats

10
Posts
4
Votes
Michael Hernandez
  • New to Real Estate
  • el paso tx
4
Votes |
10
Posts

Need help just starting out

Michael Hernandez
  • New to Real Estate
  • el paso tx
Posted

I’ve been out of a job for 3 months and with my girlfriend just losing her job we’re both ready to jump into real estate. I’ve always been wanting to jump into it but never have, and now I’m starting to take this serious and chase it. 

I found a on market property selling for 102,950 3 beds 1 bath 972sqft when I run comps I’m only looking for houses that have been renovated to see what it’s selling at. 

Comp 1 is at 179,100 3 beds 2 baths 1376 

Comp 2  is at 139,000 3 beds 1 bath 1347sqft

Comp 3 is at 127,900 3 beds 2 baths 1298sqft
  once I run comps I add up the prices of the houses and divide it by 3 to give me an average number of 148,666 and am using 60,000 for renovations all in at 208,666 and 70 percent of that is 146,066 and that is the lowest I can go to purchase the property? Any help would be very appreciated 

Loading replies...