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Updated about 4 years ago on . Most recent reply
Newbie Wholesaler in Tampa Bay FL, best tools for deal analysis
Hello All - I am a new real estate investor in the Tampa FL area looking to evaluate my first deal ever! I have spent weeks viewing vlogs, youtube vidoes, reading articles and now I am ready to make the first call.
I have found a property that I am very excited about. This is a listed property. I believe I have a good line on a wholesaler friendly title company. My question is in analyzing the numbers. I want to not only put in a good and proper offer for this specific property but to learn the proper technique for the future. With that said...
I want to properly evaluate the repair/rehab costs. The property has solid bones, good location and lot size however is completely empty, no kitchen cabinetry at all, bathrooms will need to be completely redone, all floors redone and extensive landscaping. Without any current connections in the contracting world, other than my Google searches, how can I come close to generating the most accurate repair eval that I can?
2nd, what are your thoughts on Propstream's services vs the BP calculator tool vs using Redfin or Realtor.com? From my review it seems as if Propstream is a great one stop resource for comps, general repair estimates etc. and the data may be more accurate vs using the free websites. What do you think? Does the BP calculator service offer the same type of one stop shop data analysis?
Thank you all in advance for your response.
Joy Best
Tampa, FL
Most Popular Reply
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Hey Joy, I definitely recommend Propstream I use it for all my deals. I am not the biggest user of the bigger pockets calculators however. I am also a property manager who deals with a lot of value add projects, so calculating renovation cost has become pretty easy for me. Send me a dm and I'll help you any way I can