Analyzing the buy

[Danny Day]

How do you analyze the purchase on your property?

How do you compare the one your looking at vs others?

The way I've been finding properties is I first search the MLS for discounted / distressed homes (corporate listing, foreclosure, or short sale). I gather the info and put into a spreadsheet (neighborhood, bed, bath, list price, list date, year built, zip code, and if its bank owned / short sale, etc).

I have a column that has the formula =Today() and then the Days on Market column will subtract todays date from list date, giving me the accurate days on market (matches the mls!).

But more importantly, I run comps on each one and put an ARV column next to the list price column. I can subtract ARV from List Price and have equity capture, or I can divide list price by ARV and have a list price to ARV percentage.

Of course once I do that, I can repsectively filter / sort the highest to lowest, instantlly giving me the best deal by the "numbers".

The one problem this leads too is it does not factor in repairs. I have a MAX OFFER column that uses the formula =SUM(B2*0.7)-G2, in which B2 is the ARV and G2 is the REPAIRS column.

Any others tracking this data like this? Its working out well for me.

Danny