All Forum Posts by: Anton Ivanov

@Ben Leybovich

I think in the perfect world, new investors would spend enough time and energy learning how to analyze properties themselves, what the various calculations mean, etc. But from what I've observed (and I'm sure you've seen too), only a few new investors, who are more analytical in nature, do this.

One of the issues that I've seen again and again is new investors putting together a "spreadsheet" based on their limited understanding, that produces inaccurate or misleading numbers. The problem is that they are not knowledgable enough to understand that the analysis is inaccurate, but start making investment decisions based on the analysis anyway.

That is one of the main problems I wanted to solve with DealCheck by providing a tool that takes most of the guess work out of running analysis calculations and evaluating rentals/flips/wholesale deals that will satisfy 80%+ of investors out there.

But going further, I think that tools like DealCheck are perfectly viable even for more experienced investors. I own a portfolio of 35 units worth just under $4 million and I find that the analysis, projections and valuation tools DealCheck provides are sufficient for me to make investment decisions. 

Now, granted, I don't do syndicates, partnerships, complex financing or large commercial developments for my deals, but again, I don't think most investors do either. Based on the statistics I've seen, most investors in the US own less than 10 units, which are predominantly SFRs or 2-4 multi-family.

@Brandon Sturgill

Sure, I'll send you a pm.

@Ben Leybovich

I appreciate your comment, but I disagree. Judging from your recent posts, you're into syndication, large commercial deals and partnerships. I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).

But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects. 

I've used to it myself to analyze all of the 35 units I bought over the last few years and personally talked to 100's of other investors who've analyzed and closed on great deals using it.

I'd love for you to actually try it and would be happy to receive and incorporate any feedback you have into future releases. Feel free to pm me or email.

@Michael Benanti

Feel free to pm any time if you have any questions or need help.

@Brandon Sturgill

DealCheck has a complete built-in glossary with explanation of every term/metric, including the exact calculation formulas used.

@Chad Carrodus

I haven't seen an existing software solution that would fit what you're asking, although it may be out there - I'll let others pitch in. I do understand the problem and we are planning to release additional features that will allow you to import/analyze properties in bulk. Perhaps not in a 100% automated fashion like you'd like, but better than what we have now.

We're always looking for specific feedback, so feel free too send me a PM and we can chat about your suggestions.

@Preston Lam

No problem and good luck to you guys as well!

@Joseph Mercer

No, I don't typically try out several PMs before finding one that I like (although I don't think there is anything wrong with that). All of the PMs I currently use I found through referrals from other investors. This has been the key for me. If you can find a company that is highly recommended by 2-3 other local investors, I think you're much more likely to find one that will work out. Feel free to send me a message and I can send you my "interview questions" as well.

The 50 unit goal originally came from a passive income target. My wife and I wanted around $150-200k in yearly passive income. Assuming around $250-$350 cash flow per unit/month, that's around 50 units that we'll need to get there. Since we got to 35 so quickly, we'll probably keep going to 65-75 units before retiring at this point.

We're on the same page as far as retirement goes - I want to keep working until I'm sure I won't have to get another job again. I also don't plan to do "real estate full time" after retirement - just live off the passive income from the rentals we bought.

My "W-2" job is actually another startup that I'm #2 employee in with considerable equity. They are likely to get bought out in the next few years and I don't want to leave before that.

@Marc Littmann

Glad to hear you like it so far. Yes, we've been getting a lot of requests to allow a full-out MLS/property search based on criteria. It would be a big undertaking for us, but we do plan on working on it in the near future. We'll keep you posted on the progress!

@Ashish Singh

I've replied to this question several times in this tread, I don't think my system is anything special. I write down checklists and procedures for various aspects of property management like leasing, make-ready repairs, lease renewals, evictions, etc., go over them with my PMs and make sure we're on the same page.

Then I follow-up with them at least once a month to see how things are going, to check if we need to make adjustments to anything. And obviously the basics like review monthly owner's statements, maintenance receipts, etc.

@Peter Tverdov

Great to hear that this strategy is working in other markets as well!

@Paulo A.

I spoke with mostly investors. A couple were trusts/estates. I don't think I had any elderly or owner occupied. Not sure about the equity, because I didn't ask.

@Kayla Oliver-Pratt

Conventional (30-year fixed loans) are easy to find - most banks will do them, just ask if they offer them on investment properties. Local credit unions or banks where you have other accounts may give you better rates.

Commercial financing is a little harder to find, but there are still tons of banks that do them. You can ask other investors you know for recommendations.