inspect property and analyze different deals and loan options
Hi,
How to analyze different deals. Any good excel spreadsheets you are using which say buy or not buy other than 1% rule. If oossible can you share it. Any free apps on iphone to put numbers quickly and analyze when I am near property?
What is best buying criteria for single family home around 100-200k for rental.
I have some rough criteria like below
1. Not on septic tank
2. Not on crawlspace
3. No rain water drainage issues
4. No big tress nearby at least 20 feet away so that trees may not fall on roof
5. Electric upto code
6. Good hvac to avoid costly 15k repair immediately after closing.
7. Preferably some houses on sides and back and front not some neglected waste land and detention pond etc. next to property
8. Even land
9. No foundation issues
10. No retention wall nearby
11, No catch basins nearby
How to inspect personally properties for major items before calling Inspector by paying around 1k.
Is using hard money ( i see lot of points and fees and closing costs and short term loan adding risks) good approach or normal bank loan or DSCR loan etc.?
Please advise