All Forum Posts by: Jesse S.

@Ron S.

Thank you for the quick response.

I guess the real question is how do you determine the worth of the property?

Usually you could do comparative analysis with the surrounding similar properties, but these houses are not being auctioned off.

So the question is how do you determine how much to spend on a property up for auction?

What are the determining factors. I really factor in how much you have to spend as a determining factor because your worth has nothing to do with the worth of the property.

So... if we are being completely honest I’m not 40 yet, but I turn 40 this year. I have never owned a home so I am hoping to take advantage of any first time home buyer programs in the DMV (D.C., Maryland, Virginia).

I’m thinking a multi unit will probably be my best bet in order to catchup.

Below I have a few questions for the more seasoned folks:

-how does qualifying for loan work when you are expecting income from tenants

-how do you find properties (they go fast here in DC)

-how do I figure out if it is a good deal or not based on the numbers

-should I pursue a commercial property and co timid to rent?

- should I start with something smaller and grow from there?

-is there a way to hack a single family home by renting a portion out

- what are good resources to find a property and determine whether it is a good deal or not

so... what parameters can help you determine what price you should buy an auction property at? I know its "all different" but what determines a good deal vs a bad deal. Please provide example or "Show your work" as my third grade teacher Mrs. Robinson would say.