If your like most people you want in on the action, the real.estate investing action that is.
With the.foreclosure market at an all time high many wanna be investors are taking the plunge and have started or are about to start investing .
There are 6 key numbers you must know if you are to make money investing. Below is a quick outline you can use to line your pockets with green cash.
1. Know what the ARV is !
After repair value is one of THE critical numbers you must know and be accurate on if you want to make money investing.
It’s easy to figure out once you know what to look for.
2. Figure out the repair costs.
After you have your ARV figured out you’ll want to do a repair estimate. Don’t leave anything out.
Most newbie and even some seasoned Investors under estimate their repair costs and over estimate their resale value or arv. Bottom line these 2 numbers must be as close to accurate if you want to line your pockets with stacks of Ben Franklins.
3. The most important number is your profit on the deal. You must never guess what your going to make on the deal. Plug in your profit number before you make any offers on any deal.
4. 5. And 6.
The buying costs , holding costs and selling costs.
Almost every newbie I run into don’t take into account the buying closing costs , hard money costs points , taxes insurance , utilities , maintenance and selling costs like real estate commissions and transfer taxes. Be warned . They are real and will eat up your profit if.not counted into the deal.
There you have it.6 critical numbers you must know, use and master if you want to make money investing in real estate.
I created an easy to use quick offer analyzer tool that does all the figuring for me. My teammates simply plug in 3 numbers and BAM.. the Quick Offer Deal Analyzer spits out the maximum allowable offer to make on the deal.
I may make this tool available to a select few in the near future. If.interested leave a comment ill let know if and when I make it public.
Until next time
Billy alvaro
Posted from WordPress for Android
Tags: how to figure out arv, Real Estate Investing, short sale investing
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AlisonShuman
13 years ago
Great list – now if only you/we could get it into the hands of every wanna-be real estate investor out there. I think most don’t consider the majority of these costs. They just figure they can fly by the seat of their pants and still make money. Of course, many end up losing their shirts.
For the SMART people – knowing the costs, and tracking all of them ruthlessly are they keys to make real estate investing a profitable endeavor.
admin
13 years ago
No doubt , well put! If I can.help u in any way let me know. I love this biz