Now this may sound dumb, but property value is one of the first ways of recognizing real estate investing opportunities. And you really don’t need a professional appraiser and most especially not a realtor (you do want to vaoid competition, right?) to help you identify a properties basic value. Simply use a few of the techniques the professionals use. Look up the price of similar properties that have recently sold. All you need is roughly 3 to 5 similar properties to give you a good idea of potential value. Now this is nice, but you absolutely need to determine the amount of repairs a propertty may need or you could end up in a very bad position. Face it, buying a property for 5 bucks when it needs 50,000 in repairs and similar properites are going for 40,000 is a real bad deal.
Dec 20