analyzing deals for practice

[Jason Malabute]

I'm starting to analyze one deal per day for practice.

Is there a quick way to calculate rehab cost and ARV (without overthinking it) before making a thorough analysis of property?

[Cassi Justiz]

Rehab costs will be harder if you are not seeing the inside of the property. Homewyze.com can give you some good ballpark figures for rehab costs based on the area. You can tell if you are going to need cosmetics from the pictures but system replacements will be harder to predict.

For ARV look at the comparable sales within the past 90-180 days (depending on your market and recent inventory- the more recent the better). Generally you want to find properties SOLD (not just listed) in the same neighborhood or general area with similar features, sq footage and updates that you plan to do. You'll also want to consider number of beds/baths/garage spaces when considering your comparables.