The key is to:𝗦𝗲𝘁 𝗖𝗹𝗲𝗮𝗿 𝗖𝗿𝗶𝘁𝗲𝗿𝗶𝗮: Define your investment goals, risk tolerance, and target market.

What are the key pitfalls to watch out for when using this approach?

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

A fresh coat can make a lasting first impression.Pro Tip: Don’t rush the paint job—prep is key!

Now, for my fellow investors that have agents working for them on acquiring properties for y'all, what are some key tips or things that you would love to see us agents improve more upon or see us do better at when working with you guys?

One key item where I think real estate scales (might also increase risk) is to have them in the same area.

Running comps efficiently is key, especially when you’re balancing a full-time job and trying to scale your investments.If you’re looking for quick, less-than-precise estimates, automated valuation tools like Redfin, Zillow, and Realtor.com can give you a baseline.

On a side note I also used John Maher at Key Properties to sell< purchase and run my property if you don’t have that lined up yet.

Great question, @Kristi Barron Understanding your property's location, equity, and scope of work is key to finding the best renovation financing solution.

I’m trying to gain a clearer understanding of a couple of key aspects related to property valuation and market rents.While there are plenty of online resources and formulas that outline how to determine market rates in a given area or estimate a property's post-rehab appraisal (such as in a BRRR strategy), I don’t believe the process is as straightforward as these guides suggest.Accurately Assessing Market Rents1.