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Updated over 8 years ago on . Most recent reply
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Just an idea...
It goes without saying that I'm new to investing in Real Estate. I'm not even sure what I would be good at, (i.e. flipping, buy/hold etc.).
All that I've read, both here and other site about doing this or that with a property always seem so vague to me.
Add to that all these new acronyms...and your looking at one confused dude. So I figured that since I have a piece of real estate, why not use it to help me learn. I have hard and current numbers on it, and perhaps more then I need.
I did note that analysis is an important part in any of the areas of real estate, thus to this end, would anyone be so kind as to point me to a spreadsheet that I could use that will cover "Buy to Rent", "Buy to Flip", "Buy to Wholesale", where I would enter data once and be able to evaluate multiple possibility's?
Thank you for your time,
Greg
Most Popular Reply
Greg Rutkowski Try the BP calculators for free samples or even pay the fee to use it.
You can use IRS Form 1040 Schedule E as a guide and make your own spreadsheet. Warning, schedule E doesn't account for vacancy loss since so add that to your sheet, maybe 8% to 10% of a months rent. Then plug and play by doing scenarios for various expenses for maintenance and repairs.
Also read IRS Publication 527 Residential Rental Property, it will show you how to calculate depreciation and many other things. You have to follow IRS rules anyway, so use their free pubs.
Go to your county tax assesor website to get property tax rates and add that to your sheet.
You'll really benefit from making your own spreadsheet because you'll better understand what makes it all tick.