Are we allowed to post zillow links here for feedback/analysis on potential deals?

Question

Are we allowed to post links to zillow or other websites here? For example, I think a good way for me to start in real estate is to learn everything I can about underwriting, then find 1-3 properties on which I think the numbers make sense and post them here for feedback from more experienced members. With these 3 theoretical deal analyses, hopefully ,I'll then be better equipped to jump into my first real deal.

Are there any rules about this? Thanks.

Nicholas L. · Answer

@Zach Howard

you can usually post enough information in a thread without the address and people will usually happily help you analyze deals.  i hereby volunteer.

just to pile on to what @Jonathan Greene said though.  while i do think it's valuable to analyze properties, it's really difficult to underwrite based on photos.  and in response to your question about someone else - also difficult.  PMs are busy - if you email a PM and say "Hey PM, I'm looking at 123 Main St. and I think it will rent for $1500 a month, does that sounds right?" you'll probably get a good response, because it's a narrow, specific question.  but if you say "can you walk 10 properties for me"... the answer is going to be no.  and maybe you could find a realtor to do it, but that's going to be really hard too.  most realtors deal with primary / retail buyers and sellers and they too aren't going to just walk properties for you.  so if you don't have family or your own contacts in a market... it's just really tough.

and (i may have said this in response to one of your other posts) but i'll just restate it here.  the market is really unforgiving right now.  prices are high, interest rates are high, there is tremendous demand for inventory, and - one thing that doesn't get mentioned enough - a record number of properties are debt free.  this means that these owners are under much less pressure to sell, and so they don't really care that their price won't let the property be a good rental.  they'd rather keep it / do nothing with it than sell for less than what they feel entitled to.

OK, i'll stop there.  i say all this not to be discouraging but just not to sugarcoat things.  I hope this helps.

Jonathan Greene · Answer

If you are looking at properties in the US only on Zillow, and not seeing them in person (I know you are in Hong Kong), this is just an effort in futility because you can't underwrite single-family or small multifamily deals only online. There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be. A lot of people spend their time doing this, but it's not a good use of time because it can not teach you anything relevant without seeing each one in person. If you are vetting large-scale multifamily or commercial, you can do a bit more on spreadsheets, but still it would not be relevant without knowing the potential cap ex.

Jonathan Greene · Answer

Yes, that's the way to do it, but I wouldn't rely on a property manager or realtor for that. You want to focus on markets that work with your plan and also where you have a personal connection with someone, even if you build that on the internet.

Zach Howard · Answer

Ok, but I mean is it against the rules? Haha, I'm only asking, because 1) I can't seem to find anything saying it's not allowed and 2) A previous thread of mine was deleted for apparent violation of some rules. Don't want to have the same thing happen again.

Zach Howard · Answer

First of all I LOVE your post! Haha, I don't precisely know how to explain it, but I value it when people disagree with me and point out things that I may not have considered or may not know. It's like when you're running a business - you sometimes learn way more from dissatisfied customers and their complaints, so, please, don't stop there, if you have more to add, add it! You really have no idea how helpful all these little tidbits of knowledge are. I had no idea that a record number of properties were debt free etc., and based on previous life experience, I am confident somehow, somewhere, someday, I'll be able to use this information to my advantage. I just don't know how at the moment, but when that day comes, I'll suddenly remember Nicholas L. On a side note, your name is super easy to remember, as it's the same as one of my cousins. Of course, your "L" and his "L" probably stand for different names, but they are easy to remember nonetheless. Ok, I actually haven't found any deals yet as I'm still reading a few books and trying to wrap my head around real estate investing. It might be a month before I post anything here for help to analyze. However, the question of posting links popped up in my head, and rather than adding it to my notes, I decided just to ask right away. I don't deny that it's tough if you don't have family or contacts of your own, but with enough time and patience, I think it should be possible to develop contacts. The market might be unforgiving - again, that's fine. I do not have to do anything right now, I just need to learn, wait for the right opportunities, or create them - for example by trying to use subject to and take over someone else's payments who locked in a lower interest rate from a few years ago. Anyway, I want everyone to know - I appreciate all comments. I don't mind at all when someone says, "This isn't doable" Hopefully, they at least add why it isn't doable so that I can brainstorm solutions to the problem/s they pointed out that I may not have previously thought of. Seriously, looking back, my life is full of numerous examples of things that were labeled as impossible, or impractical, but I somehow managed to pull them off. I hope my entry into real estate will continue this trend. Haha, but you know what they say - past performance is no guarantee of future results.

Jonathan Greene · Answer

Links are kind of not allowed even though there is a spot for them in the post so some get removed.

Michael Smythe · Answer

@Zach Howard the basics of the Rental Purchase Calculator is easy to understand and replicate.

Google and you can find many similar spreadsheets for free.

Zach Howard · Answer

Not so sure about that just yet... I am the kind of person who likes to understand everything and be able to do it from scratch if that makes sense. I don't want to get lazy (in the beginning) and rely on automated tools. I need to source the data myself, run the numbers, check the calculations, eventually build my own custom spreadsheet etc. I've seen a few instances on the biggerpockets youtube channel where the comments were suggesting the data used in calculations wasn't accurate. Haha, not sure about the veracity of some of those comments, but I tend to be skeptical by nature anyway. I'm not saying the tools aren't good, but I am saying that I like to be able to replicate results independently. Regardless, thank you very much for your suggestion. I somehow think eventually I'll get a pro membership, but not right right now.

Michael Smythe · Answer

@Zach Howard if you're serious, you'll get a Pro Membership so you can access the analysis reports here on BP.

You can then share those and ask for feedback:)

Zach Howard · Answer

Great, that is solid advice. I agree with the personal connection part. Thanks again.

Are we allowed to post zillow links here for feedback/analysis on potential deals?

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