Day four of our New Market Challenge is all about how to make offers and evaluate deals, specifically for houses. We already covered how to make offers for vacant land, which is super easy. It’s kind of the same for houses, and really all you have to do is figure out what you can sell it for and then offer less. It doesn’t have to be complicated. Sometimes the best way to do this for both houses and land is to look at your potential price and understand who you’re selling to. Landlords, rehabbers, and retail buyers all buy properties at different prices.
Gavin walks through how to use services like Zillow or Redfin to look at sold properties and form your estimates. We’ll also take a look at some example deals and show you how to make an offer. It’s key to look at the location and how much work needs to be done, as well as how long a property’s been on the market. You can also grab realtor information from the web and see if you can uncover more information through them as well. There are all sorts of ways to come up with offers, and Gavin and I share our favorite formulas. Don’t be afraid to make lowball offers and don’t worry about offending people. If it doesn’t give you butterflies in your stomach, it might not be low enough.
Watch and Learn:
Listen and learn:
- Why it’s important to know who you’re selling to.
- Walkthrough of how to use Zillow or Redfin to come up with pricing.
- Factors to consider when pricing and evaluating potential deals.
- Tips for using PropStream and Freedom Soft.
Mentioned in this episode:
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