Newbie who analyzed some rental properties. What do i do now?

[Account Closed]

My wife and I analyzed some small multi-family units and the numbers looked pretty good. A two unit and a four unit with a potential 45% cash on cash return and a duplex with a potential 36.5% cash on cash return. We were very conservative while making our calculations and we are very familiar with the areas that we are looking to invest in. 

The market is crazy right now and we initially assumed the best thing to do was to wait until things calmed down a bit. After a little research, reading your posts and listening to the BP podcast, we decided to practice running rental numbers. Too our surprise, all three of the properties we analyzed were cashflowing and seemed to have a decent ROI.

My question is: What is a reliable way to get an estimated value on a property you are looking at? (To see if there is equity)

If you have a property that you may need to raise capital for (5-10k) when is the best time to get it? Do i make an offer with contingency first or should i raise the money before i think about putting an offer in?

A little background.This will be our first investment property. The rental analysis were calculated using the asking price. 

Thanks!

*By the way the properties are located in Western New York not Austin, TX 

[Stephanie Jacobson]

You must run numbers on your own for profit, as you're already doing, since different investors have such different goals. But if you're ready to look into making an offer, get an agent involved! Where in Western NY are you looking? A good agent will be able to give you a clear idea of what the property's market value is, and will help you navigate the negotiation process. An agent familiar with investing should also be able to speak the seller's language, to get you the best deal possible on the property.

Good luck!