Depends on your focus in this game equity is good to have because it enables you to use creative financing it is also cash you can tap into
Hard money lenders typically give between 65-75% of the value so if the property has approximately 25% or more then they will provide funding
Or you can have the seller carry the remaining especially if you have poor credit
Also if you intend to resale the property you can still sell below market value which will give an incentive to perspective buyersIf you want to know the amount of equity in the home you can simply ask the buyer if you don't have that luxury look up the existing note in public records and you should be able to come up with what is rougly owed on the property and then you can do a comp search to find the going market value Realize that equity is not necessary to make a profitable deal in many instances I prefer no equity because the bank is more willing to deal since they are getting ready to loose their shirt especially if they have many nonperforming assets on the books Im sure others will add their 2 cents Good Luck
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