Deal Analysis: App or Spreadsheet?

Question

I've been using Mogulmind.com to analyze deals, but it's limited in how it handles loans, and can't handle private money or hard money is cleanly as I'd like. Same with DealCheck.io. RehabValuator is a more comprehensive, but still not perfect, and it has a pretty bad interface.

Any recommendations for other web apps?

Alternatively, I'm wondering if I should start developing my own spreadsheet to enable the specific analysis I want to perform. Are there any good templates out there I can start from?

The downside of a spreadsheet is potentially having to manually create a deal packet for my investors.

David Whitaker · Answer

@David Robertson I'm looking to analyze rentals primarily

@Jon Crosby yeah, the 1 yr min is problematic. You also have to manually calculate any kind of profit splits with PML after refi.

@Kuba F. would you be open to sharing your spreadsheet?

Michael Lenahan · Answer

Why don’t you use the BP calculators?

Kuba F. · Answer

@David Whitaker

Loan scenarios can get complicated, so I'm not surprised that you're finding most software out there lacking in that regard.  I personally spent at least 3 months on the subject to add the ability to capture an unlimited number of loans of different types, and although I'm pretty happy with it, I can see spending another 3 months on the edge cases.

Jon Crosby · Answer

Hi @David Whitaker, sounds like creating your own spreadsheet is going to be your best option in the short term.  I'm curious why MogulMind can't handle your Private/Hard money pieces though.   I would just assume you use the 100% finance with 'other' option to put in the terms....but maybe it's because it makes you do a minimum of 1 year?

Would love to learn more about your specific scenarios though if you ever want to chat!

Cheers!

David Robertson · Answer

Are you trying to analyze flips or rental deals?

What PML or HML terms can't those apps handle that you are looking for?