Analyzing Tooele UT Rental Property
I had some calls asking about analyzing Tooele UT rental property this weekend. Talking about rental investments is going to make it hard for me to write about investing in land, lots and raw ground which is what I promised for this week.
But as I was responding to the questions I found a terrific article on the 'Bigger Pockets' website, that was just too good not to share. No matter whether you are interested in buying single family homes, condos for rental, or if you are looking for a duplex or triplex to fix up and hold, these tips are as important as if you were analyzing commercial income property in Tooele County or my commercial real estate page.
Here is an excerpt from the piece by Brandon Turner:
Let me ask you a question: how long does it take you to pick out your clothes in the morning?
I bet it takes longer than most people will spend doing the math on their next real estate investments. I just don’t get it. People think the best deals are done on “intuition” and just buy something because it feels right.
Ugh. Please people!
I’ve said it before numerous times: If you don’t have the right math going into a deal, you’ll never get the right profit coming out of it. (Tweet This!) That deal you thought was incredible will turn out to be a thorn in your side for years to come and you’ll join the ranks of the millions who have “tried” real estate only to fail.
This is why I harp so often on getting a firm understanding of the math when buying an investment property.
I don’t care if you are buying your first or 100th property – you need to understand and do the math.
That is my ultimate goal with this post: to help you learn to analyze a real estate deal so you can make the best investment possible.
If you are still with me but you haven't clicked on the entire piece by Brandon, at least save it some way.
You never know when you need to know about analyzing Tooele UT rental properties.
It wont surprise you to find out that I feel strongly about Tooele County when it comes finding a place for your investment dollars. I'd like the opportunity to tell you why. Give me a call, Chris, 435-840-5031.
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