All Forum Posts by: Adrian Fernandez
Adrian Fernandez has started 2 posts and replied 25 times.
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Another new feature. When searching for properties, I overlay cashflow data of property search results on the map. Values change in real-time as you adjust your assumptions.
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Added a "Portfolio analysis" feature. As you find potential rental properties, you can add them to your portfolio. As you add more properties to your portfolio, the tool will aggregate each property into a comprehensive cashflow analysis report. From the portfolio page, you have the ability to edit each individual property assumptions (purchase price, down payment, loan rate, rental value, etc).
Could be useful for folks who have a large sum of money that they want to deploy at once and purchase collection of properties. Or could be useful for folks who are doing a 1031 exchange (i.e. selling 1M home and are looking to purchase 3x 333k homes).
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Steve Strano:
Adrian,
I believe you are on to something. This tool is very close to not only being pretty, and comprehensive, but also analytically savvy.
The last BIG leap that I have done research on for myself is a competitive tool to AirDNA, but with a feature that you can rank investability with properties using historical data.
A problem that I have seen with Airdna for example (and there are many) is that you cannot filter by size, profitability, or small nuances.
Might be rambling a bit, but as a Realtor that works primarily with investors, we heavily rely on PROJECTIONS that vary often times widely from management company to management company.
If there was a program that allowed us to map search a specific area, pull HISTORICAL STR RENT history and pit those results against other results, that would be a literal game changer.
In my mind it would be a tool that I could search a city, or polygon map search a tight area, filter search for everything with 4+ bedrooms under 2m, and sort by profitability.
I might even have investors that would be interested in something like that...
Hi Steve - thanks for the kind words! Glad it's potentially useful! I'm using it for my own use-cases & happy to see others may benefit from the tool as well.
I designed the tool primarily for long term single family rentals, but could potentially add STR-centric features. I need to give that some thought as that introduces a lot of unique features that I'm less familiar with!
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Matthew Cates:
Adrian...I'd love to talk with you about implementing the property analysis you've created into my list of available properties to my clients.
Hi Matthew - happy to help! Feel free to use the out-of-the-box features on the site today. Should be able to find your individual properties via address. Then simply use the sliders to adjust various assumptions (i.e. loan rate, vacancy, etc). Let me know if you have any other ideas or feature requests. The tool also includes a "share URL" button. Doing so should encapsulate your assumptions so anyone who uses that link will see the same numbers/projections as you.
Cheers!
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Steve Strano:
Just noticed, I can only search for a particular city. Can you not search for a specific property?
Alright - i just added back ability to search by specific address. Give it a try!
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Steve Strano:
Just noticed, I can only search for a particular city. Can you not search for a specific property?
Good catch - i was having issues with specific address search, so removed it until I could identify a fix. Let me see what I can do!
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
And added a "save my search" function to save search criteria:
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Drew Sygit:
Pretty cool!
Issues:
1) Basements & garages greatly impact values & rents, yet you don't cover
2) Units for multifamily searches?
3) Price & Rent per square foot sorting would be nice
4) Estimating 3% of value for property taxes is way to ROUGH!
In Michigan, this would lead to a LOT of ugly surprises:(
How hard would it be to build a database of taxable values and millage rates? Michigan makes it easy as the taxable values are part of Public Records, which you can scrape and has a list of millage rates: https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.
5) Why can't we change Vacancy, Cap-Ex (maintenance) & PM percentages, per Property Class?
6) What about being able to enter repairs/rehab amounts?
7) Since investors may target different property Classes, which will affect Vacancy & Cap-Ex percentages, how about being able to create my own custom Assumptions Template and save to my ID? Saving multiple Assumption Templates for different searches and markets?
8) How about the ability to create my own Buy Box Tempalate with beds, baths, squarefeet, ROI, Monthly Cashflow, units, etc. and have your tool email me when a property meets my Buy Box?
I'm sure I can think of more ideas, but I only spent 5 minutes on this.
Hi Drew - slowly adding some of your feature recommendations. Just added a "initial rehab" slider (defaults to 0), but allows you to include in your IRR, CoC calculations, etc.
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Another quick update... Added Sankey chart to help visualize cashflow. The diagram adjusts in real time as users modify various sliders for down payment, mortgage rate, etc
Post: Made a rental property finder tool with some cashflow analysis... Sharing here!
- Allen, TX
- Posts 27
- Votes 2
Quote from @Drew Sygit:
Pretty cool!
Issues:
1) Basements & garages greatly impact values & rents, yet you don't cover
2) Units for multifamily searches?
3) Price & Rent per square foot sorting would be nice
4) Estimating 3% of value for property taxes is way to ROUGH!
In Michigan, this would lead to a LOT of ugly surprises:(
How hard would it be to build a database of taxable values and millage rates? Michigan makes it easy as the taxable values are part of Public Records, which you can scrape and has a list of millage rates: https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.
5) Why can't we change Vacancy, Cap-Ex (maintenance) & PM percentages, per Property Class?
6) What about being able to enter repairs/rehab amounts?
7) Since investors may target different property Classes, which will affect Vacancy & Cap-Ex percentages, how about being able to create my own custom Assumptions Template and save to my ID? Saving multiple Assumption Templates for different searches and markets?
8) How about the ability to create my own Buy Box Tempalate with beds, baths, squarefeet, ROI, Monthly Cashflow, units, etc. and have your tool email me when a property meets my Buy Box?
I'm sure I can think of more ideas, but I only spent 5 minutes on this.
Great feedback! Let me see what I can do!