Analyzing 100 deals to start, where to find?

[Dustin Fike]

I have heard Brandon say on the podcast many times for a new investor to "analyze a 100 deals" to get to know a market. I understand the premise of how to analyze a deal and run the numbers. However, where should one get those 100 deals? Is this something that can be pulled from zillow/trulia/etc? Or does this need to be real deals from deal funnels or wholesalers?

Also, how do you determine rehab costs when analyzing these 100 deals? Is it a $/SF placeholder? Try to guess from photos? Or does it matter? Is it sufficient to determine what the all-in price including offer and rehab costs would need to be to make a deal work? Then, when moving on to an actual deal, one could get more in depth estimates on the rehab before submitting an offer?

[Rick Novotny]

Hey Dustin,

Find an investor friendly agent in the market you're looking to invest in. They will be more than happy to spend a few minutes setting up an MLS search for you. While you're learning the ropes, you won't need to search for off-market deals or anything crazy creative.

You could reach out to a property manager in the area you are looking to invest in to help you with repair estimates. If the agent you're working with is an investor themselves, that helps.

Just keep it methodical and analytical as you move forward, never let your emotions get involved when investing. Honestly, the rehab costs are kind of a moot point if you're going to keep the property forever. It matters more for short term projections, but who cares if you're going to keep it for 30+ years? Take that with a grain of salt, because the repair costs DO matter but depends on the type of investing. If you're syndicating like Taylor above, it definitely matters.

As the rents and value of the property continue to rise, your returns start to skyrocket. For example, my first deal was only like 7% cash on cash return. That was in 2016. I had no idea what I was doing. The returns on that property have turned into more like 18% cash on cash over the years.