What's your go-to method for quick property analysis?

Question

Hey Y'all,New to the group and decided to jump in with a question.I'm curious about everyone's property analysis workflow. As a licensed agent in Boston, I work with investors, and I've noticed we all seem to have different approaches to crunching the numbers.Some clients come in with elaborate spreadsheets, others use apps, and some just do quick mental math (which honestly makes me nervous when we're talking six-figure decisions).**What I'm wondering:**1. What's your preferred method for initial property screening?2. Do you use specific tools or just stick with Excel/Google Sheets?3. How detailed do you get on the first pass vs. deeper analysis?4. Any red flags that make you immediately walk away?I'm always trying to provide better value to my investor clients, so learning from people who do this full-time would be incredibly helpful.I actually just built a simple analysis tool for my own use (got tired of Excel errors during client meetings), but I'm sure there are way better solutions out there that I should know about.What's working best for you all?Appreciate any insights!

Ty Coutts · Answer

Hey Jared — welcome to the group and great question! It’s awesome that you’re bridging the gap between being a licensed agent and really trying to add investor-grade value to your clients. That mindset is gold.

Here’s how I typically break it down with the investors I support (mostly small to mid-size portfolio builders):

1. Initial Screening Method:
Quick math is fine if it's disciplined—like back-of-the-napkin 1% rule or rent-to-price ratios—but I coach people to always follow up with a structured first-pass screen. I personally use a custom Google Sheet for this, built around key metrics like Cash-on-Cash, DSCR, and Cap Rate. The goal isn’t perfect numbers—just a “is this worth digging into?” decision in 5–10 minutes.

2. Tools:
Google Sheets all day for flexibility and transparency. I’ve seen clients use DealCheck, Stessa, and BiggerPockets calculators too—great for visual learners or newer investors. Your own tool might be perfect if it’s tailored to Boston’s unique numbers and costs.

3. First Pass vs. Deep Dive:
First pass = Quick ROI, monthly cash flow, and high-level risk (e.g., flood zone, weird zoning, poor layout).
Deep dive = Financing structure modeling (especially if using DSCR, FHA, or creative options), reserves planning, rent comps, and renovation ROI.

4. Red Flags to Walk Away:

• HOA fees that destroy cash flow
• Unrealistic rent assumptions from listing agents
• Poor layout for target tenants (e.g., lots of small rooms in family areas)
• High crime data that contradicts listing photos

HOA fees that destroy cash flow

Unrealistic rent assumptions from listing agents

Poor layout for target tenants (e.g., lots of small rooms in family areas)

High crime data that contradicts listing photos

Love that you’re building your own tool—that's often the best way to ensure consistency during showings or client presentations. Feel free to DM if you want to swap notes on that or see how other investors are structuring underwriting in today’s market.

Looking forward to seeing more of your posts!

Jaron Walling · Answer

@Jared Marcus We used detailed spreadsheets for different strategies that I created years ago. I make continuous and small changes to the interest rates, ARV, LTV, and predicted expenses to hold rental properties or budget for a flip. It's giving me numbers that run out about 27 years. With minor tweaks to the rent and estimated expenses % it shows CF and what it could be like to hold a property for ___ years. We can't predict the future. In our experience rent has dragged behind the market for various reasons. So again not perfect.

Know the numbers. If you're using a calculator, spreadsheets, or other online tools you must learn to "see" potential deals. NO ONE will do this for you unless you have a great mentor. I didn't so my mentors came from BP! There's so much information about running numbers. Just have to dig it up in the forums. We look at list prices, condition, review market rate rents via Rentometer, Zillow, local knowledge, and determine if we have something worth walking. Our market is street by street (becoming less so) but that's common sense stuff.

Google Sheets is your friend. It makes it easy to work from a desktop or phone when you're looking at properties. It constantly saves changes so I'm not worried about errors like you mentioned. Cheers man.