Insider Secret #24: The Easiest Way To Evaluate Any Property
maria gudelis | March 31, 2008Another tip in a series of insider secret tips on how to make money from real estate by real estate expert Maria Gudelis. This series will contain investment secrets, techniques, and resources that will help you immediately put more money in your bank account.
OK now let me show you a quick way to evaluate a property’s worth as you do want to make sure other people’s IRA money is safe and secure in a good value deal!
Here is what I do when another real estate investor or realtor calls me about a deal. He or she usually tells me that the property is worth X amount but I can get if for far less that the market value, such as $30,000.
2 Quick Things I Do To Evaluate:
1. Will I make at least 20% profit of what it is worth? For example, if I am paying $100,000, will I make at least $20,000 on this property after all my closing costs, realtor costs, etc.
2. Most importantly €“ I verify the market value by calling my Appraiser who is on my Power Team and simply say “Is this house really worth X amount or am I being misled”.
