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The first step in any evaluation process is first to obtain any of the necessary information about the property in order to eliminate any guesswork when analyzing deals. By taking some easy initial steps and establishing the appropriate systems it will eliminate any fears or risks. A lot of the initial “work” can be performed before even leaving your desk. Real estate professional Dan Auito has had enough of books that waste people’s time, money, and effort, and sap their will to believe in their abilities. So he has written “Magic Bullets in Real Estate: Your Guide to Understanding and Using Real Estate to Your Best Advantage,” which reveals how every person can live a life of prosperity and security. It describes in detail a concrete plan to find, negotiate, contract, buy, sell, rehabilitate, and flip properties—as well as manage tenants, taxes and tradesmen. After the inspection the appraiser uses one of three approaches to establishing value. In non-rental properties the options are either the cost approach or the sales comparison. Rental properties utilize the income approach.

-The cost approach uses information available that includes local building costs, labor rates and other factors to determine how much it would cost to build a like-kind or comparable property.

for more info. visit our website at reliableappraisers.com/ we are  real estate appraisers, & bank appraisers

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