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Updated 1 day ago on . Most recent reply

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Emily Strong
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How To Analyze the Market??

Emily Strong
Posted

I need help understanding how to analyze the market. I can't practice if I don't know where to start! What is available to show me how to spot a deal? I don't want to be stuck in analysis paralysis. Please help! 

I just listened to the four strategies in rental properties Rookie podcast and I know this is where I am struggling. 

Thank you!

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Heather Bailey
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Heather Bailey
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Hi Emily, getting started is definitely the toughest part.  I would  recommend that you work on practicing analysis of properties that you see in Zillow.  To learn how to do the analysis, I highly recommend you read, highlight, and reread two books:   both by Brandon Turner, first is Rental Property Investing which talks about finding, financing and everything to screening tenants for rental properties and the second book is  volume One of the Multi Family  Millionaire.  This book has an excellent chapter on the Math!!!.  Write down the formulas and practice these on properties that look like they have potential. And, if you want to invest close to home, find a realtor who works with investors who can help you look at these properties.   Also, see if there are investor groups in your area where you can start to network. As you are building your knowledge base on analysis, think about how you plan to finance these and begin to speak with lenders so that you'll be ready when the right deal comes along.  Good luck.!!

  • Heather Bailey
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