It's not easy to get a handle on your properties portfolio. There are so many apps out there, and some of them might be really useful for analyzing the properties you own–but others can take hours or days before they're done processing!

The good news is that we've found an app that does instant analysis in just a few clicks-it'll tell us everything about our investments without slowing down investment decisions.

Checking your deals to make sure you are buying the right property can be hard to do. But, with dealcheck.io you can be sure to run all your numbers successfully and invest in real estate the right way.

Why Is Property Analysis Important?

Real estate investing can be a lucrative endeavor, but it is also a very risky one. Therefore, before investing in any property, it is crucial to do a thorough analysis to determine its potential value.

This analysis takes into account many factors, such as the property's location, its age and condition, the local market conditions, and more.

By doing a careful property analysis, investors can make informed decisions about which properties are worth pursuing and which are likely to be financial flops. In the competitive world of real estate investing, having this knowledge can give investors a significant advantage.

Here Are 10 Factors To Consider When Conducting A Property Analysis

Real Estate can be a lucrative investment, but it's essential to do your homework before buying a property. A thorough analysis will help you understand the risks and rewards of investing in a particular property. 

1. Location: The location of a property is one of the most important factors to consider. It will affect the local economy, crime rates, and school districts.

2. Current condition: It's crucial to inspect the state of the property before making an offer. Look for things like structural damage, foundation problems, and termite damage.

3. Zoning: Make sure you are familiar with the zoning regulations in the property's area. This will affect things like what you can build on the property or how you can use it.

4. Financing: Getting pre-approved for a loan is essential before making an offer on a property. This will give you an idea of how much you can afford to spend and what kind of interest rate you will qualify for.

5. Taxes: Research the tax implications of owning a particular property. This includes things like property taxes, income taxes, and inheritance taxes.

6. Insurance: Make sure you are familiar with the different insurance types available for Real Estate investors. This includes general liability insurance, errors and omissions, and title insurance.

7. Warranties: Be sure to ask about any warranties included with the sale of the property. This can include things like a home warranty or a structural warranty.

8 . Utilities: Be sure to research the cost of utilities in the area where the property is located. This includes water, sewer, electricity, gas, and trash service.

9. Management: If you're not planning on self-managing your Real Estate investment, you'll need to factor in the cost of hiring a professional management company. This includes things like monthly fees, repair costs, and evictions. All these added up to become part of whether or not an investment becomes successful over time

10. ROI: Finally, calculate the expected return on investment (ROI) before buying a Real Estate Investment Property. There are many different ways to do this, but it's important to have a realistic idea of how much money you can expect to make (or lose) on your investment. This is one aspect that Real Estate investors often overlook when analyzing a deal, but it's crucial to understand your risks and potential rewards. Real Estate investing can be profitable if done correctly, but YOU must do YOUR due diligence before making any decisions.


 
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Property Analysis In The Past vs Today

Real estate has always been an evergreen industry, and people have been hunting for their dream homes since time immemorial. 

In the past, the concept of property was restricted to commercial, residential, or agricultural land, but with the changing times, the definition has broadened. A few decades ago, this process was done manually by visiting the site and evaluating it on various parameters like location, climate, connectivity, resources, etc. Potential buyers would have to rely on word-of-mouth reviews or their own personal knowledge of an area to learn about a property.

Today, however, there are a number of online resources that provide comprehensive information about any given property. As a result, buyers can now research properties in great detail before ever setting foot on the property itself. This is especially useful for buyers who are not familiar with the area.

In addition, many of these online resources provide tools that can help buyers compare different properties side-by-side. As a result, property analysis today is much more data-driven and objective than it was in the past.

Now, What is DealCheck?

  • Add several property data points.

Find properties quickly and import information such as the list price, estimated value & rent, property taxes, and images. Alternatively, manually enter the data using our step-by-step instructions.

  • Create customized transaction specifications.

Enter the purchase price, financial information, closing costs, budget for repairs, list of tenants, and projected costs. Set up a number of characteristics to create the ideal bargain.

  • View thorough financial estimates and analysis.

Instantly view each property's cash flow, cap rate, ROI, profit from a sale, purchase expenses, and other information. Examine long-term profit estimates for flips and cash flow projections for rentals and BRRRRs.

  • Research recent sales and rental comparisons.

View comparable recent sales, comparable rental listings, and market data. Then, obtain rent and after-repair value (ARV) estimations based on the particulars of the property you're investigating.

  • Determine the maximum bids you can make to sellers.

To make each deal work for you, use the offer calculator to determine the greatest price you can put up. Then, choose among more than a dozen criteria depending on your investment strategy.

  • Produce and distribute expert real estate reports.

Export each property's analyses, forecasts, comparables, and images into a single, comprehensive online or PDF report. Share property reports immediately with clients, partners, or lenders.

  • Screening properties with custom criteria.

Assume your attention is solely on flips that satisfy the “70% Rule,” generate at least $35 in profit and demand less than $50 in upfront money.

You can create custom criteria using DealCheck's buying criteria tool to match these investing aims, and you'll be able to see which properties will meet those requirements and which won't. This is excellent for swiftly weeding out transactions and concentrating just on those that appear to have some chance of being lucrative.

  • Purchase Offer Calculator

DealCheck will aid you in creating a sensible offer price once you've found a potential property in which you're interested and are prepared to contact the seller.

Every real estate transaction involves some degree of bargaining. You can use DealCheck's buy offer calculator to determine the greatest price you can pay while still achieving your profit, cash flow, and investment return goals.

The offer calculator on DealCheck uses reverse valuation analysis to determine an offer price and offers more than a dozen selection criteria.

DealCheck Subscription Plans:

Starter which is for free

  • Up to 15 Saved Properties
  • Up to 5 Property Photos
  • Up to 5 Sales & Rental Comps
  • Up to 5 Property Templates

PLUS Subscription for $10/month

  • Up to 50 Saved Properties
  • Up to 15 Property Photos
  • Up to 10 Sales & Rental Comps
  • Up to 10 Property Templates
  • View Updated Property Records & Listings
  • Unlock All Purchase Criteria
  • Purchase Offer Calculator

PRO Version for $20.00/month

  • Unlimited Saved Properties
  • Unlimited Property Photos
  • Unlimited Sales & Rental Comps
  • Unlimited Property Templates
  • View Updated Property Records & Listings
  • Unlock All Purchase Criteria
  • Purchase Offer Calculator
  • Customize Sales & Rental Comps
  • Property Owner Lookup
  • Property Reports with Custom Branding

Anton Ivanov, The Man Behind The Success Of DealCheck

In 2015, Anton Ivanov founded DealCheck after realizing that most investors were analyzing investment properties with stale or erroneous spreadsheets and software.

The available tools were rigid, challenging to use, and frequently expensive, costing hundreds or thousands of dollars. Furthermore, none of them provided a mobile-friendly cloud-based analysis tool.

Since then, we have concentrated on developing a platform for property analysis that is convenient to use and includes sophisticated capabilities for more seasoned investors. Additionally, we have always made DealCheck accessible on any computer, phone, or tablet.

More than 150 000 real estate investors, agents, brokers, and wholesalers worldwide use DealCheck today to evaluate a wide range of investment properties.

He is also the creator of RentCast, an online tool that enables landlords, property managers, and real estate investors to expand, monitor, and improve their rental portfolios from a simple interface.


 
FREE Making Money with Real Estate Investing Course

Get the real estate investing course for FREE and Subscribe to the MPI Newsletter with loads of investing tips, advice, and advanced strategies for investing in real estate.

 


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