How fast can you properly financially analyze a property?

[Jamie Nacht]

Before I started a real estate tech company, I had all my tools... Excel sheets, favorite websites to check for new listings, favorite websites to estimate rental prices, ideas of what various renovations would cost... But even at my fastest, it still took me ~30 minutes to analyze a single property, and as fast as I could work, properties were coming on and *poof* going off the market! It drove me nuts!

So... Honestly, how fast can you really do a thorough analysis on a property that looks like it might be a good investment?

[Andrew Johnson]

Jamie Nacht I’m nowhere near as fast as you guys! It’s really quick for me to qualify a property out. Or, more accurately, crunch a few numbers and see if it’s in the realm of the listing prices. I’d say at least 90% of first-blush numbers lead me to think “well, I’ll revisit this after it goes stale.” Since I invest out of state it’s not exactly easy to drive by! But I can ask my PM what she knows, look up the owners name on the assessors site, etc. Sometimes I get an “I know them” or “Andrew, I know you, you don’t want that apartment building.” And sometimes the PM will drive by and it’s interesting or “Hey, I saw 7 people just loitering outside those 3 duplexes at 2 in the afternoon.”