Brand new to this, I have some questions.

[Aaron Misiph]

Hello,

I am brand new to this website and have started reading some of the bigger pockets books to educate myself. My girlfriend and I have decided that we want to buy our first home this summer, and we are looking to get a multifamily and live in one of the units. 

Through the reading that I have done so far, it is recommended to buy a property at around 80% of what it is actually worth, that needs some work done so you can get some forced appreciation. The part that I am really struggling with is being able to walk through a property, see the state that it is in, and determine how much money I would need to fix it up to realize that forced appreciation. Does anyone have any suggestions on books or any other way of learning how much these renovations will cost. Or is this one of those things that you just have to figure out as you go?

Thanks for any help.

[Jill DeWit]

@Aaron Misiph hello and welcome to BiggerPockets!

First, I commend you for taking that first step in your real estate investing career, and that is reaching out on BiggerPockets.

To answer your question, I would sign up for your local real estate investment club in your area and network with a few contractors and renovators.  See if one of them would go with you to the property to assess the work and how much it would cost to repair the house and capitalize on the "forced appreciation".

Or, you can perform "sweat equity"...doing some of the work yourself if you have some experience with renovating and repairing property.

Also, be sure to soak up the free knowledge here.  There is a wealth of information in the podcasts, blogs, and articles.

Finally, when you have a deal brewing, bring it here so the more experienced investors can help you structure and close the deal correctly.

Happy to help any way I can.

Congratulations and I wish you the best in your real estate investing career!