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970: 5 Mistakes to Avoid When You Start Investing in Real Estate
BiggerPockets Real Estate Podcast
Compete, Calculate, Corroborate
To successfully evaluate investment opportunities in real estate, utilize a systematic approach known as the three C's: Comp, Calculate, and Corroborate. Start by researching comparable properties to understand what competitors are earning in your area. Next, employ a calculator tool, like the BiggerPockets calculator, to meticulously assess all expenses and determine the potential profitability of a deal aligned with the comps. Lastly, corroborate your findings by engaging with local market experts who can provide anecdotal insights, such as seasonal trends and specific maintenance challenges unique to the area. This comprehensive understanding will enhance decision-making and investment outcomes.
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