Streamlining Deal Analysis?

Question

Hey BP'ers - how are you streamlining deal analysis? It's taking me hours to analyze each deal by the time I call for utilities, so on and so forth.

Johann Villalvir · Answer

Hey Amelia, analyze for STR, BRRR, MTR, or any other specific strategy? For me, I wrote a program that uses AI to flag potential properties based on ARV - asking price and only looks at the top 10-20 deals. So I spend 2 minutes each morning looking for deals

Richard Loniewski · Answer

You have to get good at analyzing deals fast, good deals go quickly! I am a big fan of Dealcheck, simple to use and does all the calculations for you. The only thing is with rentals you need to know all the expenses and with flips to have to figure out ARV and reno cost, but the tool will do the rest!

Jonathan Greene · Answer

You are going to caught in the trap of analysis paralysis like this. Are you seeing any of those deals in person? If not, you are spinning your wheels. Even if you want to invest in another market, you need to see a lot of homes in person to know what $100k or $300k looks, smells, and feels like in different markets. You can estimate utilities pretty easily, but that is small picture. Big picture is the asset and the neighborhood. Too many new investors just sit around crunching numbers and you won't learn anything doing that for the longer term.

Alecia Loveless · Answer

@Amelia Cooper I’m not sure where you’re sourcing your deals from that that information isn’t included. All of that comes included in our multi state MLS so once you find promising looking leads you can just click into them and if they’re already a rental you’ve got access to current rent data usually as well as all the existing expenses.

Obviously if it’s not there or it’s just a SFH either you have to contact the listing agent or figure out how to do your own research but here in New England 95% of the time it’s been done for you.

Even on SFHs usually the cost of the heating oil is included and the water and sewer expenses and it’s pretty easy to get electric costs from the agent.

But you’re right our electric companies won’t give you any help ever.

Amelia Cooper · Answer

MTR's - and as fantastic as that sounds, I do not have the skills to write a program that can scrape AI to funnel me leads based on my ARV. But, I appreciate your enthusiasm!

Streamlining Deal Analysis?

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