How to know what a property is potentially worth?

[Seth Knopp]

Hello! New to the game. Made flash cards for every term in bigger pockets glossary, meet with real estate agents, went and scouted properties, met with lenders, read multiple books and articles, listen to podcasts, in the process of setting up a meet with local investors...

One question I’m not seeing very clear is, how do I determine the potential price of a property? I understand the basic value of adding a bathroom or bedroom. How to a get comps in the neighborhood? Is it as simple as finding out what other properties have recently sold for? How do I know adding 15k to a property will lead to 20k (made you numbers) in value?

I guess I’m just stuck on how to find a deal? How can I show my investor he will get his money back quickly to make it worth his or her while?

I’m sure there is information on this site alone, and I’ve actually read other angles, but something still isn’t clicking for me. Sometimes hearing other people explain it opens my mind up.

Appreciate any help.