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Updated over 1 year ago, 04/04/2023
Searching for First Deal/ Analyzing the Market
Hello, I am a young adult looking for my first investment property. I have been following BiggerPockets, reading books, watching videos and webinars, and listening to podcasts. While I am not ready to invest yet, I am beginning the next step in my education by analyzing deals and watching the market while simultaneously networking with local agents.
Maybe this is a rookie question, but how should I assess a listing say on Zillow, Marketplace or Craigslist? How can I determine what it may rent for? What is a good purchasing price? Why are two houses with different bedroom counts the same price? How can I determine in advance what rehab costs may be? Is there any way to project future appreciation? I know location, land, jobs nearby, and so much more affects these questions, but as who has only done research thus far and not actually looked at my market it all seems very overwhelming. How can I sharpen my ability to read, understand, and analyze the Real Estate Market I am in?
Thank you so much!!