Hey everyone! My name is Amanda and I am just beginning diving into real estate. I'm hoping to make my first purchase in the next 6-12 months. What are some good tools or tactics for analyzing deals? Thanks for any help!

@Amanda Dewyer use actual numbers.  Get actual rental comps from agents, use actual tax payments, actual utility payments, etc.

@Nicholas L. Do you just use an excel sheet with the actual values, or have you invested in any REI specific software?

@Amanda Dewyer  I just use Excel.

This may be of interest to you. I've been an investor for 20+ years. The quickest cash of any housing investment actually has come from flipping mobile homes in parks. The profit percentage ranges from 50% to 200% with most projects completed in less than 90 days. You won't retire on one deal but the low initial investment, the profit percentage, and the quick turnaround time is hard to beat. This can be ideal for newer investors to build up some quick cash. 

The simplicity of analyzing projects is one of the keys. 1-(2+3)=4. That's the entire formula. 1) What will the house sell for after prettying it up? Comps are easy. Every park is it's own neighborhood. What have similar units actually been selling for? Real Estate folks, the MLS, and county title info will give you accurate specifics. 2) What will it cost to pretty up? If you need help just get some bids 3) What amount of profit will you be comfortable with? 4) What you can pay for the house when purchasing.

A simple Excel spreadsheet is all I've ever needed. No software :)

All the best in your endeavors! Housing will always be a great investment - done properly

@Jerry Lucker Thank you for the advice (: Seems like excel should be the way to go. 

Congrats on beginning your journey! I agree with @Nicholas L. that Excel is the way to go. If you new to real estate investing and don't know how to model, I recommend signing up for Bigger Pockets Pro and use the calculators that they provide you with. If you want to have something more technical (like a technical model in Excel that you can change or modify) I recommend exploring a few courses on Udemy. They have relatively inexpensive real estate course (for less than $20) and they come with excel models that you can download and use for yourself. Good luck! 

@Amanda Dewyer I have a spreadsheet for you. DM and I will send it to you.

@Amanda Dewyer , go to your local REAI meeting. Connect with someone doing deals, NOT reading books. Learn, then apply what you learn,, I can walk through any property and tell you want it needs in 10 min,,,, never used any tools 

Good Luck 

Thank you @Jerry Lucker , your reply was SUPER useful. I'm quite literally brand new and haven't heard of that strategy yet.