How to find deals or where to find them

[Fredy Medina]

Hello I'm a general contractor who is being doing rehab for 15 years for investors  i mean complete turn key, but two years ago i decide to get in to the business of real estate to learn more about it, im strongly to put my hand in to a good deal, is so difficult for me to find them, and also to run the comps i just think the i need someone to walk me through the process so i can feel more confident of what I m doing, so far i know that im in  Right track, is so easy for me to put a rehab estimate together, so please if anybody have the time i will really appreciate  thanks

[Brad Tabor]

@Fredy Medina, I think we all feel the same way. I am in the process of closing on my first BRRRR and am trying to put in several offers a week. I have been running comps by going to ZILLOW and looking for the SOLD homes and then the RENTAL for the homes around my target. If I am going to put in an offer I send the deal to my lender and they evaluate and pull comps also. I have been very close. Still need to see it against an appraisal but you really start getting the feel to at least come close. I have seen that if it's a good deal you have a VERY short window to determine if it works and make an offer.

I've developed a calculator that figures all the Hard Money loans (based on my lenders rates), cash needed at close and what the total loan will cost me. It then figures the refinance costs and how much money I would need to leave in the deal (if any). I can then adjust the price and rehab budget to see what price makes sense to my strategy. I've also got a Rent calculator at the same time that figures my cash flow, CoC and ROI with only 5 total inputs. It has really streamlined my assessment process, let's me assess every deal I get in seconds for practice and gives me a quick number I can offer the seller.

 I liked the BP Calculator but got tired of starting over just to adjust the price or Rehab number, plus wanted to see it quickly and on one page.

Hope this helps!