Rental Property Calculator Query

[Keleisha Carter]

I'm a newbie and interested in rental property investing. I just signed up for Pro membership trying to analyze at least one deal each day. Started to use the rental property calculator. However, I'm stuck as I don't know what figure to put for the following:

- ARV

- Estimated Rehab

- Repair value

How can I come up with these figures??

[Tyler Rowland]

Hey @Keleisha Carter,  I have a few tools that might help you out, congrats on the Pro Membership BTW!

ARV, So once you have done a couple of calculations in the same market you should start to get a good feel on what houses are going for. But If I ever really just need a good accurate estimate I will call a realtor familiar with that area and that can do an estimated analysis to give you a good ball park value. Or you can look on Zillow or Realtor.com and find houses comparable with the one your analyzing. I had a realtor selling one of my houses walk thru with other realtors, and then ask them what they believed the house would sell for. They all came with in 5000 dollars in their estimates. So they are a great resource.

Estimated Rehab is difficult but just remember that it is always better to over estimate than under.  One of the podcasts had a guy that would look at out of state houses and just estimate at least 30000 for rehab no matter what house he looked at.  Ill find that podcast number for you. 

Hope this helps.