What Is A Good Real Estate Deal? - Hard Money Bankers
A good deal is something every investor should be able to spot easily, right? The truth is, most investors are not able to spot a good deal. I have several clients that I work with that have a sense for good deals and always seem to be onto the ones that are good. I have others that 50% of the time bring a good deal and 50% of the time they don't. A good deal has several characteristics when trying to find it. I notice that when I open up my local MLS system and put in the intended deal address, it has to jump off the page at me. A deal is usually very clear and doesn't take a lot of time to look at it. You will find that within a very tight geographic range the address you are looking at should be at a steep discount compared to very strong comparable sales right near it. An ideal situation would be have the subject property on the block with 4 other comps all fully renovated, sold fast and no board ups. If I am spending too much time thinking about the value of a property, it is a sign that it is not clear and that I should be cautious. Learn to spot very clear deals and you will develop an eye for knowing when you have something good.
Ian Walsh215.839.3271
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