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Market Price vs Market Value
We love giving back!
Summary:
Timestamps:
About Garret Wong
Connect with Garret:Facebook
LinkedIn
Instagram
Get Involved:
Contact:
Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio!
Podcast Episode Title:"Market Price vs Market Value"
Summary:
Understanding the difference between market price and market value can mean the difference between a great deal and a costly mistake. In this episode, I break down these critical concepts, share a personal experience that nearly cost me thousands, and provide actionable insights to help you make smarter real estate decisions.
Timestamps:
[00:00:00] Introduction: Why understanding market price vs. market value is essential.
[00:01:00] The Definitions: Market value vs. market price explained with real estate examples
[00:02:30] Factors Affecting Market Value – How location, property condition, and market trends impact property valuation.
[00:03:30] Factors Affecting Market Price – The role of emotions, bidding wars, and negotiation skills.
[00:4:20] Key Takeaways – Summary of the biggest insights and how you can apply them to your next deal.
About Garret Wong
Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio.
Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system.
Connect with Garret:
My First Keys
Personal Website
Wong Capital
Get Involved:
Subscribe to My First Keys and follow us on social media for the latest updates.
Contact:
For feedback or questions, reach us at https://garretwong.com/contact/
View all episodes
By Garret WongWe love giving back!
Summary:
Timestamps:
About Garret Wong
Connect with Garret:Facebook
LinkedIn
Instagram
Get Involved:
Contact:
Check out our online Community HERE where you can learn how to purchase your first property, manage your existing property, or scale your portfolio!
Podcast Episode Title:"Market Price vs Market Value"
Summary:
Understanding the difference between market price and market value can mean the difference between a great deal and a costly mistake. In this episode, I break down these critical concepts, share a personal experience that nearly cost me thousands, and provide actionable insights to help you make smarter real estate decisions.
Timestamps:
[00:00:00] Introduction: Why understanding market price vs. market value is essential.
[00:01:00] The Definitions: Market value vs. market price explained with real estate examples
[00:02:30] Factors Affecting Market Value – How location, property condition, and market trends impact property valuation.
[00:03:30] Factors Affecting Market Price – The role of emotions, bidding wars, and negotiation skills.
[00:4:20] Key Takeaways – Summary of the biggest insights and how you can apply them to your next deal.
About Garret Wong
Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio.
Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system.
Connect with Garret:
My First Keys
Personal Website
Wong Capital
Get Involved:
Subscribe to My First Keys and follow us on social media for the latest updates.
Contact:
For feedback or questions, reach us at https://garretwong.com/contact/