Real Estate 101: How Much You Should Pay For a Real Estate Property

Are you looking into buying a house? How much should you offer? How would you calculate the repair cost and all the other fees?

You’re about to find the answers to those questions in today’s episode.

As discussed in last week’s episode, you make your money when you buy a property.

This means that when you get the property at a great deal, it will make up for a lot of mistakes that could happen later on.

That’s why learning how to make a sound offer on a for-sale property is the most crucial step of the buying process. Because honestly, we don’t want to be that person who’d hold on to properties for 10 or 15 years hoping that we could sell them at a profit.

So, after we talked about real estate market research last week, in today’s episode of Women Creating Wealth, we’ll talk about…

- safety margin cost

- how to calculate repair cost

- how to determine how much to offer

- and more…

Whether you’re looking for a house to flip or doing the traditional buy and hold, you must learn how to figure out what the property’s current value is and what it will be after you’ve renovated it. Make sure to tune in to learn more!

Let’s get started!

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Key Takeaways:

• Intro (00:00)
• The ideal safety margin (02:10)
• What is a holding cost? (03:45)
• How do you figure out how much the repair costs? (04:30)
• Inspect the property with someone experienced (09:14)
• After Repair Value (ARV) explained (12:06)
• What is the Rule of Expectations? (13:10)
• Quick recap (17:25)

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Additional Resources:

- Sign up for my FREE real estate mini-course here

- Grab a copy of my book Empower Your Inner Millionaire

- Visit my real estate blog here

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Connect with Me:

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- Instagram

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Women Creating Wealth is a podcast empowering women to achieve financial freedom through real estate investing.

Be sure to follow it on your favorite podcast platform!