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Updated 2 months ago on . Most recent reply
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Newbie - Analysis Tools - No/Low Cost
I'm looking to start with Multi-Family (duplex/triplex). I have my own home so this will have be as an investor with 20% down.
I know there are things I need to do to analyze if the deal is a good one, like rental rates, Status of the house/infrastructure, amenities in the area but what else should I be thinking of? Tools that I see to analyze deals: Zillow, rent websites, craigslist what other tools do you recommend?
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When analyzing deals, a few additional factors I like to consider are whether the electric and gas utilities are charged per unit or as a single expense. This helps determine if I would be responsible for covering those costs. I also review the insurance costs and try to get a solid estimate of coverage expenses to fine-tune my calculations. Another thing I do, which might just be a personal habit, is check Redfin or Zillow for property listings. By scrolling down, I can usually find the property taxes for previous years, giving me a rough estimate of those costs. These are some of the additional things i look for when analyzing. I hope this information is helpful.