Podcast 297 – What to Look For When You’re Doing a Market Analysis?

Michael Quarles covers what you should look for while doing a Market Analysis, and more… When doing the market analysis are there any guidelines or benchmarks to know if the market being analyzed is a good market.  For example, is 128 average days on market good, bad or in different?  Are many pre-foreclosures and REOs good, bad or indifferent and so on and so forth.  How much is too much?  Are there preferred targets? Can you ask Michael what he would suggest for the following situation: I have a property under contract that has nuisance liens and unpaid taxes totaling $6,500. It requires a Quiet Title Action which would cost $500-$1,500 and take 2 months. The Seller just wants to Quit Claim it to me. The BPO report shows a 30-day As-Is sales price of $14,900. Can you explain passive vs dealer status? Is this only a tax thing? Does this mean if I have rentals in my name I can’t also do flips in my personal name? The seller needs the money to go buy a trailer house, but then won’t have anywhere to stay.  My question is how could I best use sub to in this scenario so I can avoid the extra costs of transactional funding?  I think sub to would be the way to go and the contract would stay when i close i my side that the proceeds pay off the mortgage.So lets say we close within 30-45 days, would you do a weekly lease for 1 month?  I would think that might hurt my ability to sell it and I am worried if he wouldn’t move out and we might have an eviction on our hands. More Podcasts! Listen to More Podcasts by Michael Quarles! – Click Here Listen to Recorded Live Seller Calls! – Click Here Listen to Interviews with Today’s Top Business Professionals! – Click Here Tweetable   Market Analysis CLICK TO TWEET     Join Michael Quarles’ Gold Coaching Program CLICK TO TWEET     Text Investor to 313131 CLICK TO TWEET   Share the Show Did you enjoy the show? We would love it if you subscribed today and left us a 5-star review! Click this link – The Michael Quarles Real Estate Show Click on the ‘Subscribe’ button below the artwork Go to the ‘Ratings and Reviews’ section Click on ‘Write a Review’ Resources Please send questions you would like Michael Quarles to answer to [email protected] and he will answer them on one of his upcoming podcasts! Looking To Grow Your Real Estate Investing Business? Join My Gold Coaching Program Yellow Letters – www.YellowLetters.com Want to be held Accountable to your GOALS? – Text the word WEALTH to the number313131 Want to Learn from Michael Quarles? – Text the word INVESTOR to the number 313131