Tool for analyzing deals

Member since 2025 · 5 posts · 2 votes

Good morning,

We're starting our investing journey and would like to have a "deal analyzer" sheet/tool on hand. I see plenty of them online and am quite overwhelmed with which to start.
Since looking up some REI stuff online, all of my social media is now full of ads of gurus selling their "road to riches" tools.

Can anyone share a GREAT spreadsheet, free or not, that works for a beginner?

For context: looking to buy a SFR/duplex in Midwest, really loving Ohio atm, in the next few months before summer.

Thank you!

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Sam McCormackBusiness Member

Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes

7mo

Quote from @Jenny Elomaa:

Good morning,

Can anyone share a GREAT spreadsheet, free or not, that works for a beginner?

For context: looking to buy a SFR/duplex in Midwest, really loving Ohio atm, in the next few months before summer.

Thank you!

BP has a good rental calculator. I've seen DealCheck too used by my clients

[email protected]859-443-4952

Sam McCormack Realtor

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Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
7mo
Idk how handy with AI you may be but Ive noticed a lot of investors have headed to chatGPT for deal analyzing these days.
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- Jenny Elomaa
  OP
  Member since 2025 · 5 posts · 2 votes
  7mo
  @Kerry Noble Jr hi Kerry! I love using AI, and have had many REI conversations with AI, but ultimately I'd like to be able to run the numbers myself and learn the process instead of relying completely on computers.
  0 Reply
Jaycee GreenePro Member
Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 726 votes
7mo
Quote from @Jenny Elomaa:

Good morning,

We're starting our investing journey and would like to have a "deal analyzer" sheet/tool on hand. I see plenty of them online and am quite overwhelmed with which to start.
Since looking up some REI stuff online, all of my social media is now full of ads of gurus selling their "road to riches" tools.

Can anyone share a GREAT spreadsheet, free or not, that works for a beginner?

For context: looking to buy a SFR/duplex in Midwest, really loving Ohio atm, in the next few months before summer.

Thank you!

Hi @Jenny Elomaa, welcome to the BP Forum! What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"? Are you looking for properties in Akron or another city in OH?
[email protected]
0 Reply
- Jenny Elomaa
  OP
  Member since 2025 · 5 posts · 2 votes
  7mo
  @Jaycee Greene Hi Jaycee, thank you! DP anywhere from $40-80k. Pricey range under $200k for duplex/SFR, $350k under for four plex. Husband loves the idea of a turnkey, I'm more open to something that needs light reno ($10k>).
  
  We've looked at Akron, Dayton, Toledo. But they all look very similar to us without being able to compare the numbers and markets. We're OO and can't visit the areas ourselves.
  0 Reply
Mario Benavidez
Property Manager · Cleveland · Member since 2025 · 52 posts · 28 votes
7mo
Hey! Welcome to the Ohio market. It's easy to get 'analysis paralysis' with all those guru spreadsheets out there.

Honestly, the BiggerPockets calculator or DealCheck are the best places to start—they’re simple and way less messy than a custom spreadsheet. My name is Mario and I'm with a local PM team here in Cleveland. We also have a sales team that helps out-of-state investors find off-market deals (about 50% of what they source), which can really help when those cities start to look the same on paper.

Since you're looking at the Midwest, are you leaning more toward high cash flow or are you looking for long-term appreciation?
1 Reply
Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 905 votes
7mo
@Jenny Elomaa
Don’t overthink it, the best deal analyzer is a simple spreadsheet that forces you to see the real cash flow, not a flashy guru tool. Look for one that clearly shows purchase price, rehab, rents, vacancy, all expenses, and then spits out cash flow, cap rate, and cash-on-cash. The BiggerPockets deal analyzer (spreadsheet version) is solid for beginners, and there are a few clean Google Sheets floating around that do the same job without the hype. If you want, I’m happy to share a no-nonsense template I use that works well for SFRs and duplexes in Midwest markets.

[email protected]614-418-6081
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Sam McCormackBusiness Member
Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
7mo
Quote from @Jenny Elomaa:

Good morning,

We're starting our investing journey and would like to have a "deal analyzer" sheet/tool on hand. I see plenty of them online and am quite overwhelmed with which to start.
Since looking up some REI stuff online, all of my social media is now full of ads of gurus selling their "road to riches" tools.

Can anyone share a GREAT spreadsheet, free or not, that works for a beginner?

For context: looking to buy a SFR/duplex in Midwest, really loving Ohio atm, in the next few months before summer.

Thank you!

BP has a good rental calculator. I've seen DealCheck too used by my clients
[email protected]859-443-4952
Sam McCormack Realtor
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2 Reply
Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
7mo
Quote from @Jenny Elomaa:

Good morning,

We're starting our investing journey and would like to have a "deal analyzer" sheet/tool on hand. I see plenty of them online and am quite overwhelmed with which to start.
Since looking up some REI stuff online, all of my social media is now full of ads of gurus selling their "road to riches" tools.

Can anyone share a GREAT spreadsheet, free or not, that works for a beginner?

For context: looking to buy a SFR/duplex in Midwest, really loving Ohio atm, in the next few months before summer.

Thank you!

I agree with Sam. BP does have a great calculator tool that I used when i first started investing. Now I have 28 units through the brrrr method. I can share my calculator that I built which works very well for me if you would like.
[email protected]614-802-5698
ReafCo | Ahmed Group 55 Reviews
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Eric Gleason
Investor · MA · Member since 2019 · 7 posts · 2 votes
6mo
@Jenny Elomaa Hi Jenny, here is a spreadsheet I've used over the years.
Feel free to modify to your liking.
https://docs.google.com/spreadsheets/d/1Ok1uvuUnV_2zxZTnI_WW...
0 Reply
Jonathan Cannon
Developer · West Dover VT · Member since 2026 · 15 posts · 3 votes
6mo
You’re overthinking it — almost everyone does at the beginning.

The truth is, most spreadsheets and “guru tools” are doing the same thing with different formatting. What matters is understanding the few key inputs, not the tool itself.

If you want something simple to start:

• The BiggerPockets Rental Property Calculator is honestly one of the easiest for beginners — it walks you through purchase, financing, income, and expenses step by step and shows cash flow, ROI, etc.
• There are also free Excel sheets floating around BiggerPockets that calculate things like cash flow, cap rate, and cash-on-cash return if you prefer spreadsheets

But more important than the tool, focus on just a few things:

• Purchase price
• Realistic rent (not best case)
• All-in expenses (taxes, insurance, maintenance, vacancy)
• Financing terms

If those work, the deal usually works. If they don’t, no spreadsheet will fix it.

Most beginners get stuck trying to find the “perfect tool” instead of just analyzing deals.

Start simple, run a few deals, and your process will get faster quickly.

If you have a deal you’re looking at in Ohio, happy to take a look with you — sometimes a second set of eyes helps more than a new spreadsheet.
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