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Time to buy or time to sell??
Does anyone get recurring work dreams?
What’s WLB like at A&M? Thanks in advance
Slow Saturday. Hope everyone is safe and well.
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Coach
Listen to bigger pockets podcast just for understanding ho numbers work. The other stuff is a bit off fluff for new starters but as long as you understand calculations, you should be good on your own.
Post that, try to run some numbers on properties on your own- 3 properties a week. Then connect with a RE agent and start exploring properties. Then try to low ball and out a couple of offers just for the sake of being rejected so you understand how it works and get a feel for it.
In a similar boat. Thanks for the advice, D1! Have you ever used DealCheck?
Coach
I haven’t used it but I normally do my due diligence on my own. I have a xls sheet to run the numbers to get the proft, depreciation etc. In terms of others comps, market value, comparison etc, I have a RE license so I do it on my own or you can ask your realtor and he/she can do that for you.
To offer a contrarian view on this topic as compared to others (based primarily on your statement about being a novice). If you calculate in the personal time as well as the management and maintenance costs required, you may find the returns and inflation hedge you seek may be accomplished in certain REITS. Yes, the magic of leverage, depreciation expense and some aspects of ‘possible positive cash flow’ might be lost, but potentially overpaying during these times of deal scarcity is a material risk. REITS offer a safer place and you’re still in the game. This group shows how REITS are categorized. https://www.hoyacapital.com
another thought. Those who do get involved in building a ‘small portfolio’ of rental properties, this service is smart to use: https://us.payprop.com