Now all foreclosures are the most favorable time to buy and invest in a home. But how do you know what is good and what is not. If you want a rehabilitation, wholesale, landlord or bird dog, the guide and details will help you.
Let's start with what is the actual good deal, what is not! To do this, we need some basic knowledge. If you are ashamed of a 5-8 real estate agent, please call or email and find the average selling price for your area in the past 3-6 months.
Buying this will give you what is called a landmark or baseline job. Let me explain, because some of your real estate agents may not understand. Which area may they ask? Or what price range? No, no, no, as Amy Winehouse said. Let them give you all the houses in all your homes on average. To get this, you can take all the houses that have been sold in the metropolitan area and average them out. Usually it is also listed in your newspaper. The number of newspapers, only with FYI, is about 80% accurate.
Once you get this price, say the average selling price is $250,000, divided by 2, which is equivalent to $125,000. This is the house you are looking for, at the end of the sentence. If you want to be a bird, a wholesaler or a rehabilitator.
The goal now is to purchase foreclosure or foreclosure, divide it by 2 for $125,000 and purchase your investment agreement for $75,000. That's why more people can afford a $125,000 house instead of $250,000, so you have more buyers. This makes your house a higher price, which is a $300,000 house. In other words, more people can shop at WalMart instead of shopping at Nordstroms or Macy's department stores.
As people gain more experience, they can get rehabilitation costs, purchase areas, what to buy, and more pictures you can pay. You can get a figure of $250,000 and only need a 25% discount for the price of $187,500. Then cut half of $187,500 and $93,750 and buy at that price.
It is also important to assess your rehabilitation costs. There are other criteria to consider, but it should be helpful in this case. But usually you can't miss these numbers.
Orignal From: Formula for purchasing foreclosure
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