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Updated over 2 years ago,
NEED HELP! Winchester area deal Analysis
Hello bigger pockets members! I am absolutely brand new to the real estate game. I've read several books and listen to the podcast daily but I need help figuring out my MAO. More accurately I need help with the exact steps I need to take to figure this out. Here's my situation.
I have a landlord I met who is looking to sell 2 triplexes and a 2 story commercial unit he believes could be a duplex. The purchase will be all 3 properties put together. I need to go check the properties out myself to determine rehab and whatever else you tell me I need to determine. I was hoping I could be given a checklist almost of what I need to do to get to my MAO.
I work in remodeling as a project manager so I can figure out rehab cost on my own. What I need help with is how research is completed in order to determine a guestimated rent, where I find out the growth of population in Winchester, and what deductions need to be taken out for vacancy, extra costs I might not be thinking of etc. No real estate agent will be used. Please forgive me for my absolute ignorance on what I need to do but any help would be greatly appreciated. As excited as I am about the small possibility of working my first deal I would rather make sure I don't make a stupid one. This deal will most likely end up being a cash deal.
Thank you!