How do I know if I have found a GOOD deal

[Ash Lynn]

Hello, 

I am a newbie, and am looking for my first GOOD deal. I know a key to success in real estate investing is finding a GOOD deal. What are some specific characteristics of what is considered to be a good deal? For example: cash on cash ROI % range or monthly cashflow range, etc?

Thank You, 

Ashleigh 

[Nick C.]

The best way is to look at what other similar houses are selling for in the area and try to buy it for less than that. If you're trying to sell your house for 100k with a good ROI and other houses around you are all selling for 50k, I don't think your potential buyers are going to bite. But if all the houses around you area selling for 100k and you can sell yours for 60k you will be in good shape.