Practice analyzing deals around Kansas City

[Ryan Guffey]

I have been trying to practice analyzing deals around the Kansas City area and I found some I thought were good deals, but I want to make sure I'm doing it correctly and using the right numbers. Is there a good way to verify I'm doing them correctly? Or is there anyway to analyze one someone has already done before seeing it so I can make sure I'm coming up with similar numbers while not influenced much by what someone else came up with?

Is there anything you did to help you when you stated analyzing deals?

[Steven May]

Keep it simple. 

Are you looking for a specific Cash on Cash return? If the property is close to the 1% rule typically it’ll cash flow pretty well. ($120,000 house should rent for $1200/mo). 

Take into account age of HVAC, roof, foundation, water heater, and other big ticket items. Big trees that need to be cut out? Sewer line condition? 

Otherwise, 6-8% vacancy, 5% maintenance, 5-10% cap ex, and 8-10% management but if your local I’d recommend self-managing if possible.