I made this google sheets property analyzer but I have a feeling my equations are wrong and it is driving me up the wall, that I'm not seeing what it is that I am missing. Help would be greatly appreciated!
Thanks for your help!
If you would like to directly edit this test version let me know and I can email you it.
I want to know where in America you buy a piece of property for $100K and rent it out for $24,000 per year. Even if I assume 5% property tax ($5,000) and $1,000 for insurance, that equals $18,000 in net income (assumes no mortgage cost), or a cap rate of 18%. I know investors in southern CA that would buy those properties by the truck load with cash. Without seeing how your formulas are calculated, I can't tell you where you're going wrong. You basically want you want your analysis to mimic the actual real estate transactions. There are many detailed analyzers, so I wouldn't waste your time developing your own unless you plan on doing something different than the normal investor (which is what I do). Here is a free one (I have not evaluated it at all): http://www.realestateanalysisfree.com/.
God Bless You!
Hi Michael, the numbers I put in the spread sheet are not real properties, just easy round numbers, to see where I was going wrong. Thanks for sending me the link for the other calculators, Ill compare and them with mine. I am trying to achieve a fast workflow where as most calculators I see are slow and cumbersome to use, without the ability to compare past properties that I have evaluated.
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