Peak Market - How to know if I’m overpaying

[Chris Schroeder]

I am brand new and have just started assessing properties in my target area, looking primarily at duplexes for my first deal. It’s been mentioned a few times on the BP podcast that we are in a peak, and I would agree with that, just seeing what single family home prices have done in my neighborhood. As someone who is brand new, I don’t have a good feel for what prices I should except for duplex properties, and how much I might expect them to appreciate if I take the BRRR approach. I would like to expect that I could depend on my real estate agent to help me assess this, as they should have more historical knowledge than me. So two main questions: 1.) What steps can I take in my own research to determine if a property is “maxing out” in its value? (For right or wrong, I have this perception that most properties have an intrinsic max. For example, a house with 1 bath will likely never exceed x-dollars no matter how I remodel the bath or kitchen) 2.) I’m now starting to meet with agents. What are some good questions to ask to help determine if they will provide good guidance on this?