Rental Property Calculators

[Scott Spungin]

Hi all,

I'm new to RE investing and am learning to run the numbers. Has anyone used DealCheck to analyze properties? Would I be better off using the Bigger Pockets calculators? I ran numbers on a property and there was a difference of approx. $100 in monthly expenses between the two calculators. Could my difference be the result of the calculator or simply human error?

Does anyone prefer to use a certain calculator to better itemize purchase/expense info?

Thanks,

Scott

[Brandon Roof]

Itemizing is always better, in my opinion, as properties can very often differ. There are so many variables that can affect your expenses. Who covers utilities, is there a basement, how many windows are there, what is the pitch of the roof, what are property taxes like, are there HOA fees, and so on. It's OK to utilize generic percentages when conducting initial analysis, but once you identify a property that may be worth pursuing, I always feel it's best to know how large of a furnace i'll need based on the square footage, what the current state of the plumbing and electrical are, does the home have large decks or long driveways that will eventually bear large expenses that you may not incur elsewhere. Sure, it takes a little more time, but it at least allows you to account for as many variable as possible.