New Market Challenge Day 4 - How To Make Offers And Evaluate Deals
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\u2019s 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\u2019t 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\u2019re 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\u2019ll also take a look at some example deals and show you how to make an offer. It\u2019s key to look at the location and how much work needs to be done, as well as how long a property\u2019s 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\u2019t be afraid to make lowball offers and don\u2019t worry about offending people. If it doesn\u2019t give you butterflies in your stomach, it might not be low enough.
What\u2019s Inside:
\u2014Why it\u2019s important to know who you\u2019re selling to.
\u2014Walkthrough of how to use Zillow or Redfin to come up with pricing.
\u2014Factors to consider when pricing and evaluating potential deals.
\u2014Tips for using PropStream and Freedom Soft.