What software should I be taking advantage of when investing in real estate

[Joseph Fenner]

What software should I take advantage of that will help me analyze deals, comps, market research, etc. A all in one tool that every real estate investor should have?

[Joseph Fenner]

Quote from @Account Closed:

Quote from @Joseph Fenner:

What software should I take advantage of that will help me analyze deals, comps, market research, etc. A all in one tool that every real estate investor should have?

Analyze/smanalyze. :-) You need a spreasheet and an understanding of your market. Software doesn't provide that. Training or experience are the only safe approaches. Here is how my spreadsheet works

Address 2204 Chevy Chase Ln Decatur GA 30032

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Overview:

Part 1

Part 2

Part 3

Results

Comparison

Notes

What could I use instead of spreadsheets? Also thank you for your response. When I was referring to software that will help me analyze deals I was looking for something that will assist me in performing a CMA. I seen software being used from pace morby but I forgot the name of it, it basically showed you all the rents, home prices, etc in the area.

[Joseph Fenner]

Quote from @Account Closed:

Quote from @Joseph Fenner:

Quote from @Account Closed:

Quote from @Joseph Fenner:

What software should I take advantage of that will help me analyze deals, comps, market research, etc. A all in one tool that every real estate investor should have?

You can get that from Propstream, Redfin, Property Radar.

My experience is they are all different numbers and are "best guesses". They are "okay" for generalized information, but if you are putting money on a property, in my opinion you want better analysis than those provide.

 Ok I will check those websites out, Thank you.

[Steven S.]

Quote from @Joseph Fenner:

Quote from @Account Closed:

Quote from @Joseph Fenner:

Quote from @Account Closed:

Quote from @Joseph Fenner:

What software should I take advantage of that will help me analyze deals, comps, market research, etc. A all in one tool that every real estate investor should have?

You can get that from Propstream, Redfin, Property Radar.

My experience is they are all different numbers and are "best guesses". They are "okay" for generalized information, but if you are putting money on a property, in my opinion you want better analysis than those provide.

 Ok I will check those websites out, Thank you.

There's a variety of ways to get a deal in front of you (I'm mostly a flipper), but basically if it looks promising, I run custom comps queries and check the current & past $/sf of renovated/distressed product in that city or zipcode.

Here's a chart on 90066 I generated from my tool under Market Stats > Sales Data > Specific Zip Code:

- My above chart (more available) shows the Avg Renovated $/sf (High) over time in this Zip Code, something completely different than charts/providers based on Averages/Medians only, like every other platform (RedFin Below, https://www.redfin.com/news/data-center/):

- Can't select smaller locations such as City or Zipcode for their $/sf data, so it's useless helping me underwrite/verify a deal.

- Can set Zip Code for Median Sale Price data, but again it's the median/avg so it's useless helping me underwrite/verify a deal.

Then if that looks decent, I'll run Sales Comps, and get a quick summary of some key metrics based on those comps. Take this 💥just-closed renovated property for example💥:

With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my area

And the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:

You can also run Agent Stats to find/get in touch with the real top-agents in that area so you can triple-verify everything and/or list it with them when you are done.

With the above, I am able to quickly vet every new deal that comes my way and spend more time on the good ones. Without these tools, you'd have to do a lot of manual data collection and copy/pasting of comps/data into a spreadsheet for every property you analyze, was kinda the reason for building this out.

[Bernard Bevans Jr]

You should use dealcheck

https://dealcheck.io?fp_ref=bernard17

has everything you need for real estate

has over 350k investors/agents using it