Today, we're talking about how you are going to find the right deals, the cheap real estate that's on a sale right now and it comes along faster by every single day. You go out and find it, always remember that we are living in an organic real estate world nowadays. Shows that people are interested and ready to get the property, but most of them are not systematized. Oh, so you are looking for very best and reasonable deals? In That Case, there is always some terms and conditions, and I am going to share some tricks and tools. There are some simple tricks, and when you apply these tricks on purchasing property then, of course, you will find a way to hit the ground. A very best way for buying land or property is to apply a price per square foot formula. Cost per square foot formula is a mathematical way which ultimately helps you to determine, whether there’s a good deal or not but believe me it works a lot.
Small Square Foot houses require high per square foot costs, and large square foot house requires less per square foot costs. To get the best idea about per square foot price and it will help you to look at how it can be calculated. Okay so let’s talk about your area which you choose for purchasing, you could even Google your selected city or your county and you can directly visit Land and Wildlife and find your normal cost as per square foot for something that is normally estimated in your general imagination and it will be a hundred a foot or sixty a foot or a hundred and fifty a foot. The motivation behind why that is vital is because there are only two numbers that I need you to concentrate on when you're out there on arrangement destinations, land locals, conversing with real estate agents, I need you to focus on cost per square foot for a particular reason. To do that, you have to know the area and the business cost of a home. Alright, so for you to most likely do this, you're going to require a basic adding machine, isn't that so? I got one on my cell phone, you most likely do as well and suppose that I'm taking a garden at a home that is a hundred and fifty thousand dollars, I'm going to put in the value, $150,000 and after that I'm going to hit this gap image directly here and I'm going to isolate it by the square feet. On the off chance that it's 1,500 square feet, at that point think about what I get. I get a $100 a square foot. So you take the cost of the home, you divide it by the square feet, and you get the price per square foot.
Do you want to know how to find excellent deals? You just got to become familiar with what the price per square foot is in your area. That's really simple, look at all the deal sites that are out there, you can talk to realtors that have access to the MLS, you can look at the little real-estate book, you can go to any of that, you can go to home or any other for sale by owner sites that are out there, anywhere where real estate is for sale, right? All you have to do is type into Google search engine, "Homes for sale Oregon" or the city of wherever you live and what it's going to do is it's going to pull up listings, and all you I want you to do is, I want you to look for only three to four bedroom homes and once you find a three to four bedroom home, I want you to take its price, a hundred thousand divided by its square feet, twelve hundred and it's going to kick you out of price per square foot. Now the reason why I want you to learn how to do this is that finding an excellent deal, it's easy to spot if you understand this price per square foot. I'm going to start doing this right now; I'm going to go online, I'm going to go look up a website that sell properties in Washington, I'm going to start doing some math. Look what I just found right here, this is a home that is for a $120,000. I'm going to pop that into my calculator, okay. Then what I'm going to do is, I'm going to divide it by the square feet which is $1,500, look at that, I'm $80 a foot. I do this again and again and again, this one's 80 a foot, this one's 82 a foot, this one's 84 foot, this is 79 a foot and then all of a sudden, I find a home that is $64 a foot. Okay, one of these kids is not like the other ones. This house is not like the other houses that are here which means you may have struck gold. It is a straightforward system that I use for finding smoky hot good deals. It doesn't take a lot of time, if I'm ready to buy a house, I'm going to go out, and I'm just going to calculate it. I might have to do a hundred calculations which takes me all of eight minutes like no time at all here, and I'm looking for the anomaly that is low. You're going to notice some that are really high, but you're quickly going to figure out what is the average and when you get a low number, when you get a number that is 20% lower than what you've been, let's say they're all 100 a foot then if you get something at 80 a foot, and you're not finding anything else like that, that's where you want to take it to a realtor and say, do a CMA for this,
Do a comparable market analysis what they're going to do is, they're going to find the closest homes that are most like that one and compare the ones that have sold in the last six months and they'll say you're right, everything that sold in that area is selling at 100 a foot, this one's 80 a foot, that's going to equate to a roughly a 20% discount. 20% on a $200,000 home is 40 grand, you just treasure hunted as a pirate and found $40,000 and how simple was that? Friends, you can do this calculation. You put in the price of the home, you divide it by the square feet, and you’re going to get a price per square foot. All you got to do is Google and find the websites like land for sale in Idaho that are out there, find a realtor to produce your CMA, and that's how I find cheap deals, in fact, I have a team that does this for me in the nation's hottest markets around the country, and they're a research team, and we dial in on the market where the good deals are, and then we just start looking through everything that's for sale, but foreclosures the bank owns, everything and we're doing that calculation until we spot the winner. Friends, those are the ones that we bid on, and that's how you can win in real estate every single time. Where do you go from here?
Grab that calculator, grab the internet and I want to invite you right now to take the next couple of minutes and go scope out just 10 properties and start getting a feel for price per square foot in your deal because there's a good chance you might actually land on a deal without even knowing so you can find out how easy it really is to get crushing it in real estate.