How to Determine Your Buy Price

[Ethan Brown]

Hello everyone! I have a few questions regarding how you determine your "Buy Price." (I'm looking for long term rentals right now). I'm assuming you all use comps to determine this, but do you use components such as average price per square foot? If so, what have you found works best to find components such as the sqft price that gives you the true market value on a home? When you find this, how much lower of a sqft price do you try to achieve (how much equity)? Do you look to decrease the sqft price/properties price by an even greater amount than usual when in a high market like this one in order to achieve more equity? Lastly, are most of your deals just found or gotten after putting in offers at this price you determined was your "Buy Price"? All responses are greatly appreciated!

Thank You,

Ethan Brown