2% Rule and 50% Rule

[Zachary Ballou]

Due to the fact I am only 21 and have just actually started the process of looking for a 3 family home I am having a hard time getting started. I am finding "nice properties' and by nice I mean they look nice. And then I am finding properties that don't look so nice. From watching and listening to the podcasts they always talk about the "deal" and not always about how nice the property.  Finding a good deal that Is going to make you money is the key to being successful in this business according to many. They say using guidelines such as the 2% rule and 50% rule will help you filter through all the listings to find houses that you can look into further to see if they are actually  worth the time to go take a look at and maybe put an offer down. However since I have started I have not found ONE house that fits the rules. Is that because of my area, or are these rules of thumb something that just happen in a perfect world.