Quote from @Rowan Klecker:
What kind of process do you go through when analyzing deals?
I've been practicing by analyzing 1 deal per day and I have a very general grasp on all the factors that must be taken into account and the process, but I wanted to know what everybody else does first and how they identify a good deal before they do a deeper dive. Moreover, I want to know what people look for when they do identify a good deal.
Experience plays a big role in how proficient you become at analyzing deals. With practice, you'll develop a keener sense of what makes a good deal. Start by looking at the location, market trends, and property condition. Also, calculate potential profits by considering purchase price, renovation costs, comparable sales, and expected rental income or resale value before doing a deeper dive into the specifics.
