From the course: Pre-investing: Before Investing in Real Estate
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To buy profitably, you must value accurately - Microsoft Excel Tutorial
From the course: Pre-investing: Before Investing in Real Estate
To buy profitably, you must value accurately
- Hey, welcome back. To become a savvy real estate investor, you have to learn how to properly value a potential investment opportunity in order to determine if the price is appropriate. There's a saying in real estate that says you make your profits when you buy, not when you sell the property. But to buy profitably, you have to be able to value accurately. And to do that, you have to first know the distinction between these three terms, which are all three different things. Sale price, this is the price that a property actually sells at, but this isn't necessarily the market value. For example, some properties sell for below market value, for example, through a short sale or a foreclosure, or it could be equal to, less than, or greater than the market value. Appraisal value, now this is the value that is done by a trained appraisal professional, typically for insurance, property tax, estate tax, or a market value appraisal. But for various reasons, these figures tend to often not…
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