Educate yourself 6 months to a year then stop analyzing and dive in.

Hey I'm new to investing and am looking at trying to analyze my current market.

How should we go about analyzing a fair price to pay for something like this if we were to consider it?

Especially, if you don't know how to really analyze a building and overestimate what you expect to collect in rent and underestimate what you'll end up paying in legal fees and repairs.A friend bought, I believe a 6 unit in the high desert at what was thought to be a great price.

As @Brandon Turner mentioned last night on the webinar, you need to run it through the deal analyzer.

It will give you a good overview of how to analyze a property and how to go about doing your due diligence as well as explain some of the lending aspect.Speaking of the lending, you'll be looking at a commercial rather than a residential loan for a property like this (more than four units).

I am looking for my first deal ( leasing option) and I would like to know when questioning the seller about the property what else should I ask besides the common question such as what are the insurance fee, taxes, el...

Got out and look at properties and analyze deals.

I haven't talked to a building company since I am just currently browsing potential properties and analyzing them to get some more experience doing the calculations.But I can't really analyse any deals without knowing how much the refurbishment costs are going to be.I would like to know, what should be on the snagging list to make this into a proper kitchen and also what the approximate costs would be do to all of that.Property details:2 Bed / 1 BathroomCurrent offer: 110.000 PoundsARV: 166.300 PoundsEstimated repair costs: 20.000 Pounds (not sure if this is accurate AT ALL)Offer I am putting out: 96.410 Pounds (based on the 70% rule)Rent: 1000 Pounds per calender month (2 tenants sharing the house, 500 each)The property is located in an area with 3 universities and a hospital, so I figured there would be a good chance for letting this house out with 2 tenants (correct me if I am wrong).Here are the calculations that I have learned on my 3 day property investing seminar (UK based) and have implemented in my calculation spread sheet below.Please comment on the calculations if you see something missing or find odd.

I haven't analyze my market yet.