| by Kenneth Chase | 100 comments

How To Find Cheap Property For Sale


Kris Krohn here with Limitless TV and
today, we’re talking about how you find the good deals, the cheap real estate
that’s on sale right now. The deal of the decade comes along every single day. You
just got to be out there finding it, understand that we live in a very
organic real estate world. What that means is that people are only looking
when they’re ready to buy and most of that is not systematized but if you’re
looking on how to find the cheap deals, the bargains, the good deals that are for
sale out there, then what you need is a system and what I’m going to do in today’s
video, my friends, is I’m going to share with you a very simple system that you can
set up that will help you find the best bargains, the best cheap deals, the best
deals that are going to take care of you and land you winners in the real estate
game. So first of all, one of the things that you’re going to need is you’re
going to need to know how to do one mathematical calculation and it’s called
price per square foot. The price per square foot ultimately helps you to
determine whether there’s a good deal or not. In your area, you could even Google
your city or your county and say what’s my average price per square foot for
something that’s average priced in my area and it’s going to be a hundred a foot
or sixty a foot or a hundred and fifty a foot. The reason why that’s important is
because there’s only two numbers that I want you to focus on when you’re out
there on deal sites, real estate sites, talking to realtors, I want you to hone
in on price per square foot for a specific reason. To do that, you need to
know the square footage and the sales price of a home. Okay, so for you to
be able to do this, you’re going to need a simple calculator, right? I got one on my
smartphone, you probably do too and let’s say that I’m looking at a home that is a
hundred and fifty thousand dollars, I’m going to put in the price, $150,000
and then I’m going to hit this divide symbol right here and I’m
going to divide it by the square feet. If it’s 1,500 square feet then guess what I
get. I get a $100 a square foot. So you take the price of the home,
you divide it by the square feet and you get the price per square foot. You want
to know how to find really good 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 homie 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 Provo, Utah” 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 because finding a really good 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 is selling
properties in my area, 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. This is a very simple system that I use for finding smokin’
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. 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 really 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, you’re going to get a
price per square foot. All you got to do is Google and find the websites that are
out there, go find a realtor to produce your CMA
and that’s how I find cheap cheap 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, the repos, 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.

100 Comments

Sean Arroyo

Mar 3, 2018, 2:14 am Reply

Great video Kris. I really enjoy all your videos. But what about when you find a home for a exceptionally low price per square foot and find out that home needs a lot of money put into it to compare with others in the neighborhood? I would think that low cost per square foot would normally be a fixer-upper

Jon the Roofer

Mar 3, 2018, 7:24 am Reply

Liked the old intro better. Great info man!

Maria John

Mar 3, 2018, 7:35 am Reply

Very good information thanks

Fabian Andino

Mar 3, 2018, 9:24 pm Reply

Genius, I wish Kris Krohn was my dad.

Bryan O’Connor

Mar 3, 2018, 3:35 pm Reply

Awesome! WOW! 🙂

J1.92c

Mar 3, 2018, 5:37 am Reply

Modern day treasure hunt! Looking for gold..(equity)

Manny De Castro

Apr 4, 2018, 4:48 pm Reply

Do you do the sqf of the property or the whole lot?

Laura Ihde

Apr 4, 2018, 1:01 am Reply

Where is this live video ???? Can't find it, Help

Goldmannn

May 5, 2018, 4:02 pm Reply

I have i question I live in the Netherlands but in the Netherlands the houses are very expensive so with that calculation technique comes to me 800 to 1200 dollars per meter so can i still make profit with that big ammount of money?

trans form

May 5, 2018, 4:05 pm Reply

???

trans form

May 5, 2018, 4:07 pm Reply

How do I find foreclosure s, bank own homes in my area? Thank you for your help ??

Andrew Shierling

May 5, 2018, 4:44 am Reply

So I'm interested in getting a duplex that's worth about $40 a square foot they are asking $54,900 it's in ok condition not the greatest but the renters who live there seem to be happy with the condition. I figure if I could about 25% down my payment should be less than $500 a month and in between the two renters I will be making $850 a month off of them in rent is this a good deal?

Blanca Gutierrez

May 5, 2018, 5:07 pm Reply

How can I work with you?

Sylvan Forsberg

May 5, 2018, 8:10 pm Reply

I am looking for land below market price

Santi

May 5, 2018, 1:33 am Reply

Gold nugget video right here. Thank you!!

jesse gallimore

Jun 6, 2018, 5:53 am Reply

So the lower the answer of dividing the price of the house by the square feet, is better?? SOMEBODY answer please ?

Stanley Setiawan

Jun 6, 2018, 11:40 am Reply

Do you use the sq ft of the property or the sq ft of the whole lot

Desmond Marshall

Jun 6, 2018, 1:10 am Reply

Thanks just learn something new today!

Konner Shriver

Jun 6, 2018, 5:24 am Reply

Do you look for the square footage or the lot size?

Shawn Moses

Jun 6, 2018, 5:18 pm Reply

There is nothing remotely close to me for under $160k, except go up to Baltimore and buy abandoned townhouses

prachi Dandane

Jun 6, 2018, 1:03 pm Reply

MAN ! THANKS FOR SHARING YOUR TRICKS

David Vazquez

Jun 6, 2018, 5:38 pm Reply

youtube needs more people like you that really educate people and not just motivate them and sell them out on things that are motivation based ??

Average Canadian

Jun 6, 2018, 5:13 am Reply

How do you find a house worth 120,000 all the house in my town are so expensive like the average price is 300,000 and in Vancouver bc Canada a 3 bead room house in like 3 million dollars ?

Sylvester d’costa

Jun 6, 2018, 7:21 pm Reply

Too good

Ofri Mashiah

Jun 6, 2018, 1:19 am Reply

Hi i wanted to ask an american… Im dont live in usa so im not the most familiar. I saw on Craigslist pittsburgh for example. Houses for around 25 30 k. Now i understand that its not like central park area. But i mean is it an average area? Or you would get shot if you were to walk down the street

Ofri Mashiah

Jun 6, 2018, 1:20 am Reply

Im basically asking if you canget a house for under 50 k. And in a normal area. Not central park as i said but a decent safe area

Jared Dauster

Jun 6, 2018, 1:51 am Reply

Why only 3-4 bedroom homes? Would really appreciate some feedback. Thank you in advance

Eddie M.

Jun 6, 2018, 1:18 pm Reply

Great information! Definitely trying this

Dk did You

Jun 6, 2018, 3:13 pm Reply

Does this work in Singapore?

Declan O’Neal

Jun 6, 2018, 3:55 pm Reply

So do you buy a house that’s low on the market then resale it for the average market price immediately after ?

inJAHtainment t.v NOdoubt

Jun 6, 2018, 8:58 pm Reply

I wish I could apply this information in own country 🙁

Jason Brown

Jun 6, 2018, 2:07 am Reply

Would it likely need rehab? Thanks by the way.

Ondrene Barnes

Jun 6, 2018, 3:25 am Reply

Are u serious wow well im broke with a job

Judah K

Jun 6, 2018, 4:24 am Reply

Is it still worth investing in real estate if the average price per square foot in my city is over 300$?

Kratz

Jun 6, 2018, 12:13 pm Reply

When you say property. Do you mean the house or the whole lot?

UN foundation NGO

Jun 6, 2018, 5:50 pm Reply

Insane man…u rock dude

1776

Jun 6, 2018, 4:03 am Reply

Buy a cheap plot in the outback Go into construction and bulid your own house and sale it and do it all over again

Donna Morgan

Jun 6, 2018, 5:45 pm Reply

I like this! Gonna try it.

Arshdeep Sharma

Jun 6, 2018, 3:54 am Reply

But if the price of the house is low it's possible that the built quality of the house is low

Carlos Salinas

Jul 7, 2018, 12:14 am Reply

Yeah but if the square foot is less, wont that mean they also sell for less?

fasih aslampour

Jul 7, 2018, 10:48 pm Reply

Love your content, hope I find a good mentor that is like you.

opb

Jul 7, 2018, 1:04 am Reply

Maybe that high dollar per sq ft has golden floors and you are only looking at a price and a sq ft of a home?

bob sanders

Jul 7, 2018, 4:57 am Reply

damn I need a mentor and u could be the one… I still don't know how to make a fail safe contract in my area, how to hire attornies in my area for foreclosure sales, how to advertise my property off to tenants, how to close a deal

Slania Idos

Jul 7, 2018, 7:18 am Reply

Now i need the website of real estate lol.

Cesar

Jul 7, 2018, 6:51 pm Reply

Is it a good idea to buy property that’s not in your state or city ? Like a long drive away basically

MustBeMad

Jul 7, 2018, 8:12 am Reply

I'm so glad I'm one of the lucky few to have seen this guys work

luis quesada

Jul 7, 2018, 3:59 am Reply

Priceless information.!!! Many thanks.!!

Gideon Nnaji

Jul 7, 2018, 5:17 am Reply

Thanks kris. Youre a fun guy to learn from. Not like grant cordone. I have one question, i dont understsnd the kind of houses there are. What are condos, apartments duplex and the rest of them. I always think apartment is the name for all kinds of houses. Is apartment also a duplex? All them semi detached houses, are they condos? Im just confused. Please help!!

Carlos Fernandez

Jul 7, 2018, 1:22 am Reply

Hey Kris are foreclosed properties worth investing? Are banks open to giving loans for them?

The building Investor

Aug 8, 2018, 3:37 pm Reply

I agree there is allot more to consider but this is fun to do! Thanks for the video. ?

Rupu Barua

Aug 8, 2018, 2:59 am Reply

Hi Kris is it Square foot of the land or square foot of the house?

Leslie Ann

Aug 8, 2018, 7:03 pm Reply

Awesome video! The Trulia app tells you price for per s/f! Happy hunting y'all ?

Jp Jp

Aug 8, 2018, 6:27 am Reply

Would this work on finding cheap condos also or is it best to stay away from investing in those. (I'm already inheriting a condo as a student but I want to apply this formula to future deals.)

Scott McEwen

Aug 8, 2018, 11:21 pm Reply

Well there’s a lot more to it than that. You need to find properties that are similar for your calculations. The explanation in this video doesn’t take into consideration, say, the location… that is, is the home on a busy street or next to a strip mall or is it in a quiet cul de sac …or even the age of the house …or possibly a large, recent renovation. You could have a neighbourhood where average house is 80 years old. A newer build in that area could cost 4 times what an original home would cost…in price per square foot.There’s just so much more to consider than just cost per square foot.

Travis Spinks

Aug 8, 2018, 2:16 pm Reply

Great information and Great singing at 3:10 LOL

Sparsh Singhal

Aug 8, 2018, 3:57 pm Reply

Sometimes Kris's videos go straight over my head but this one is seriously fantastic!

Justin Han

Aug 8, 2018, 4:22 pm Reply

I swear…Kris is always talking about homes for 100 to 150k. Makes me feel like I shouldnt be living in the greater Seattle region. Those pices hasnt been around since the 90s here.

Christopher Jurado

Sep 9, 2018, 5:49 pm Reply

Kris krohn im ready to get in the real estate game I jus don’t know where to really start. And if there is a way you may provide step by step help for me to becoming successful n starting off a great future I can hold with the help and advice from you

Rohitdubeyofficial

Sep 9, 2018, 7:05 pm Reply

How much time it to take resale property

Alex Oliver

Sep 9, 2018, 7:16 am Reply

One of these kids is not like the other ones…. Gold.

MIKE HALO5

Sep 9, 2018, 11:40 am Reply

A lot of the houses by me are atleast 300k so I wish it was just 150k lmao

Niechelle Johnson

Sep 9, 2018, 7:16 pm Reply

Hey Kris!

BACK TAXES!!!! YAY OR NAY!!!

Should I buy a house by paying off the back taxes or no? If so, why or why not ?‍♀️???

MrRobertomendola

Sep 9, 2018, 12:58 pm Reply

I'm from the UK so is a little different here. But your videos help me so much .. keep up the work!! Bless you

HENCHBELLEND -30

Oct 10, 2018, 9:16 pm Reply

Have you ever bought a house in England

André Mariano

Oct 10, 2018, 6:03 am Reply

gold

Christian Benitez

Oct 10, 2018, 1:21 pm Reply

Cant even buy a house here in NYC. All they have is apartments for rent???‍♂️

Jane A

Nov 11, 2018, 2:26 am Reply

Love your videos tnx!!!

Deez Lutz

Nov 11, 2018, 2:32 pm Reply

Soooo in other words you and your team own all of these “treasures” in the UTAH market so is locals won’t even have a chance. ?

Aldo Malaj

Nov 11, 2018, 5:38 pm Reply

I already knew that, thought he was going to tell us something more intelligent

odibezecanada

Nov 11, 2018, 3:58 am Reply

Kris, what about the age of the house, does it matter when the house was built

THE WOAT

Nov 11, 2018, 6:24 am Reply

this is great i wouldve never thought of this

Mahesh jai singh

Nov 11, 2018, 6:43 am Reply

Hi kris
I am from india
As you said I have work for 2 year and I have 5000 doller and you said enough to buy first house
But I have 1 question
I want to buy house But I am know how to clear loan
In India is ruppes
I have 10lakhs and mimmum I need 50lalhs to buy
If i took 40lakhs loan from bank how to clear

TOURIE WRIGHT

Dec 12, 2018, 6:16 am Reply

Very cool
Great info

Karla Morel-MK

Dec 12, 2018, 10:52 pm Reply

Hi Kris,
I did your homework and I came across this numbers: 144, 157.65, 133.35, 190.42, 143.50, 147.50, 156.25, 190.35 164.14, 149.62,159.38, 199.04, 143.50, 147.05, 156.25, 224.23

The lower was 133.35 but I want to see what do you say about it.

Thank You.

Mary Proveaux

Jan 1, 2019, 5:47 pm Reply

40k savings, needs 80k work

flashpoint gaming

Jan 1, 2019, 1:25 am Reply

Pure value

Harshit verma

Jan 1, 2019, 4:12 am Reply

Nice one .. brother

Mexx

Jan 1, 2019, 1:39 am Reply

The cheapest price for a home is 1 million dollars in Vancouver. I can only dream of buying a home for 150k.

Sebastian alençoao

Jan 1, 2019, 4:58 am Reply

My average price per sq ft is $150 but when I did the math on the homes it comes to $55 to $8(lowest one) am I doing something wrong ?

Necrowolf209

Jan 1, 2019, 5:42 am Reply

Thank you, thank you, thank you.

Herbert Crappell

Jan 1, 2019, 4:38 pm Reply

???

Trinityx eminA

Feb 2, 2019, 4:17 pm Reply

Well i am german and when i do that in euros and m2 then i get weird and high numbers

MrAragoncity

Feb 2, 2019, 7:07 am Reply

A home with low square foot price may also mean that it need lots of repairs. Be careful.

Eric Robbins

Feb 2, 2019, 11:07 am Reply

Thank you

John Gauntlett

Feb 2, 2019, 5:59 am Reply

My grandmother needs to buy a house. She was approved for $200,000. Advice on how to help her get a home and a deal?

Antonio Mendoza

Mar 3, 2019, 6:25 am Reply

Wich mortge is better a 15 year or a 30 year

RealLife Money – Weekly Financial Videos

Mar 3, 2019, 4:10 pm Reply

Wow that’s great info! Never thought of that and it’s easy!!

Alfonso Gutierrez

Mar 3, 2019, 7:51 pm Reply

Could you use Zillow for that?

Pritam Mukherjee

Mar 3, 2019, 12:35 pm Reply

Your videos. They are very clear with what you say. Absolutely amazing. You are the man who is teaching me everything about real estate. For that I graciously thank you. Please keep teaching.

yo boy Isaiah

Mar 3, 2019, 4:55 am Reply

Another great simple video. Thanks Brother.

Fadak Melk

Mar 3, 2019, 9:06 am Reply

خیلی عالیی

Brishna Mirza

Mar 3, 2019, 5:03 pm Reply

????

steve sullivan

Mar 3, 2019, 6:38 pm Reply

found one, 4bdr 2 bth. 62,900. 2110 sqf = 29.8

Narayan chapagain

Mar 3, 2019, 6:15 am Reply

from today you are my real state teacher?

Jenivera

Apr 4, 2019, 2:10 am Reply

lowest price i found was 440$ SF unfortunately it was over 500K. LMAO

flame quad

Apr 4, 2019, 5:49 pm Reply

Okay so I found a bunch of houses that are 30 per square foot and 50 per square foot how do I know someone will
Purchase this for 80 a 100 a square foot or even 80 a square foot?

Farzeen Sarthaj

May 5, 2019, 10:09 am Reply

Kris I have a question.
when you talk about buying a house property do you mean only that property or including the land where it built.

Norman Butler

Jun 6, 2019, 12:58 pm Reply

Unfortunately most French property prices do not give you sq ft.

Kenny Gwin

Jul 7, 2019, 9:22 pm Reply

made nothing tell its in your hand

sbnsbaker1

Aug 8, 2019, 3:21 pm Reply

DO NOT BUY IN SEATTLE!!!!!!!!! My property taxes are SKY HIGH!!!!!!!!!!

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