• Steve

  On this Seller’s Lead Questionnaire,I notice at the bottom it says Equity Spread. How exactly do you figure that out, and how does knowing this help you the buyer?

• Patrick Riddle

  Hey Steve,

  Good question … you figure out the equity spread based on the info you get from the seller and the research you do on the property.

  Soooo, once you figure out what you think it’s worth based on comparable properties, how much it needs in estimated repairs, and what the seller owes … you’ll figure out the equity spread to determine if it’s a good deal.

  Let me know if you need further clarification …

  ~ Patrick

• Taunzi

  Thanks for the questionnaire! It saved me the trouble of making one on my own.

  Do you know of any good websites that help determine good accurate comparables for an area? The comparables would be used to help determine equity spread or average rents for an area if we decide to hang on to the property.

  Thanks!

• Patrick Riddle

  The best site to get comparables is the MLS site in your area. But, you would either need to be an agent yourself to get access or have someone’s log in info.

  Other than that, http://www.zillow.com can give you a ballpark idea. And you should get familiar with the county website in the area you’re looking to invest in. My primary county’s site is http://www.charlestoncounty.org . There is a wealth of info you can find out about properties on those sites that can help you determine value.

  ~ Patrick

• http://REItips.com jp moses

  Another great form, dude. Thanks for passing these along – I know your subscribers appreciate it, as well they should!

  These are the actual forms Patrick uses in his business, folks! Use them!

  …jp
  .-= jp moses´s last blog ..5 Email Tricks That Flip Houses =-.

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Who's Behind Must Know Investing?

Patrick Riddle:
Patrick grew up in Lexington, South Carolina. Went to Clemson University for several years studying civil engineering and wound up doing real estate investing in Charleston, SC.
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