Deal Evaluation
Tuesday, March 23
OK fellow rehabbers. When you are initally looking at a deal what elements to you track? I am offering my list below, whcih is in an Excel spreadsheet. Once we purchase we then move it into a database to manage the rehab/resale process.
MLS # Address City County State Zip
Beds
Bath
Garage
Sq Ft
Special Notes - catch all for "other" items (pool, basement, etc)
Who is the deposit paid to
Orig List price on MLS
Cur List on MLS
% reduction in MLS
Days on Market
ARV (after repair value)
Resale Projection (usually 85-90% of ARV)
Comm (S) - for selling property
Cls Cost (S) - for selling property, incl contributions
Repair (B) - estimated rehab cost
Holding Costs - based on estimated rehab time
Bid (B) - what I am willing to offer
Bid % - of currrent list price
Cls Cost (B) - on the initial purchase transaction
Tot (S) Cst - add all the (S) costs
Tot (B) Cst - add all the (B) costs
Tot S+B Cst - net cost of deal
Net Profit - diff between Total S+B vs. Resale projection
ROI - % profit, has to be 30% or more to be viable for us
Deposit (B) - what deposit is required
Offer Status - where are we in the offer process
Email Address for Sending Contracts - who is listing agent
Agent's First Name Last Name
Purchase Price Less Deposit - calculate used in cashflow projection.
Obviosuly some of these fields are self-calculating based on pervious answers. Any thoughts or suggestions. Let's share ideas so we can get better at what we do. Greg.
