By Bill Carey
1.Determine the best use and highest market value of the property in excellent condition. This research can be done by your real estate agent (comparable Market Analysis) or by your expert knowledge (experience) in the marketplace (you should know your market inside-out and not by guessing)
2.Estimate cost of repairs use contractor estimates (you should have a team of experienced contractors) that you can trust and depend on. Your experience will help you quickly estimate ball park numbers on most any project.
3.Calculate the carrying costs of the property. Purchase costs, taxes, insurance, Title, attorney, appraisal, utilities, financing (points, interest), selling costs (commissions), advertising (for tena...
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