Identifying A Deal

Bird Dogs, Wholesaling
1

Hello,

I have a general question that I hear alot “Knowing a good deal” being new how will I know a good deal or should I say how to analyze the propety to know its a deal?

Thanks

2

Depends on what your goals are. If your goal is to supplement or replace your monthly income by earning monthly income from a rental property, it is a deal only if it consistently provides you with the positive income needed each month to meet your needs.

If the goal is to earn chunks of cash to tackle an upcoming project, a property is deal only if it provides you with the ability to buy, repair, hold, maintain and get it sold within a reasonable amount of time, usually no more than 6 months. At the same time there has to be a reasonable chance of you earning the minimal profit desired to reach your goals.

3

Thank you for your comment. Meaning I need to know what my goals are?

Thanks again!

4

yup.

  1. start by assessing you situation and figuring out what issues you would like to address.
  2. figure out what it will cost you to address the issues
  3. figure out the best way for you to earn the money to pay the cost, big chunks of cash or small monthly ones
  4. set up a plan by which to achieve it
  5. act on the plan