Figure out what is selling, where its selling, and try to find deals.

MikeSo, Mike, my figures look correct?

And any hurdles the city or other agency may through in the way of rebuilding.You need to figure out what it will really cost to fix it up, if the exit strategy is fix-and-flip.If the exit strategy is rental, what are the rents.

He'll figure out the interest rate based on what you paid for the house (i.e., the loan amount), the rent (i.e., the payments), and what it costs for them to buy it back (i.e., the balloon payment).

The house has illegal bedrooms, faulty wiring etc, things that needed to be explained in person and was going to make an awesome shortsale.Anyhow, I specifically told him to take the realtor lockboxes off, or replace them with combination boxes and don't put the combination in the listing.Sure enough, both banks managed to get appraisals without my knowledge, and now we are facing the battle of the bank thinking its way too high of a value.Anyway, figured I would share this, its one of the first things I tell everyone.

And check the trust deeds.You'll see the Beneficiaries (bank name) and loan amounts.Then figure out if the numbers look fishy.Keep in mind that the appraisers always use past soldsfor comps.

I figured that if I asked around here on BiggerPockets someone would fill me in on how this is done.

I figured that to low, given the fact that there is room for expansionCourse in today's environment finding a all cash buyer will be tough & a trade is not really doable unless of course the property trade is located in my neck of the woodsThankyou for your replySonny

They will figure out the value of the property.

So like the (awesome) book "Buying Real Estate Without Cash or Credit by Peter Conti & David Finkel" says, ask questions to figure out if they need it rather than asking directly.