- Determine value by analyzing the prices of similar homes in the area that have sold. Compare apples to apples on size, condition, updates, features, etc.
- For added equity, buy one that needs a lot of repair and renovations. Figure out how much all these things will cost, and add about $5000-10,000. Subtract the total from the average selling price of a similar home that has been completely renovated, and that will be the amount that you offer for the house. After all renovations are complete, you will have the $5-10k sweat equity in your house.
- Try to buy a property close to amenities including restaurants and transport hubs. Properties like this will always make a profit worldwide. Always buy something that you are comfortable with just in case you need to stay there a while.
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