Is there any software recommended for wholesale evaluations?

Question

Friends,

does anyone recommend any particular software product to evaluate wholesale deals? also is there any software for finding out a what the market value of a property is? anyone help would be appeciated. thanks.

clary

J Scott · Answer

To add to my post above...

Here is how many flippers analyze deals:

http://www.biggerpockets.com/renewsblog/2010/03/10/determining-maximum-purchase-price-mpp/

Here is how many landlords analyze deals:

http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/

And here is how to estimate ARV:

http://www.biggerpockets.com/forums/311/topics/73160-primer---estimating-arv

J Scott · Answer

Wholesale deals are evaluated just like any other deals, with an extra cost factored in for the wholesaler's fee.

So, if you expect to wholesale a property to a rehabber/flipper, analyze the deal as a flipper would and then just subtract out your fee to determine you max offer.  Likewise, if you expect to wholesale a property to a landlord, analyze the deal as a landlord would and then subtract out your fee.

Bryan L. · Answer

To get the market value, you need comps.  The best place for comps is the MLS (and CRS, which is a Courthouse Retrieval System).  Most Realtors have CRS as part of their MLS.  The best way to get MLS access is to become a Realtor.  Now, once you know the market value, you can evaluate a deal with a calculator.  I usually do the math in my head.  If you want to get really detailed, you might want to use Excel.  You shouldn't need anything more than that.

Arin Hanohano · Answer

I agree with the rest... But hey, good to see another Devil Dawg on here ;)

Bryan L. · Answer

I think that it's accurate with the data that it presents, but it may sometimes be incomplete.  I think it's FAR better than Zillow (spit).  Usually, when there is no price listed, it is often a Quit Claim Deed transfer.

Another advantage of being a Realtor - I get CRS included in with my MLS access (at less $ per month that what you are paying).

Adam West · Answer

@Bryan L.

In your opinion, is CRS data accurate? I purchased access for $80/month and I'm happy with the service, but I'm just curious of experience of others. Also, when you see a sale with no price, does that indicate something to you?

Thanks!

-Adam

Is there any software recommended for wholesale evaluations?

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