Introducing: The BiggerPockets Wholesaling Calculator (and Cash Buyer Reports!)

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Let me tell you what bothers me.

Crappy wholesalers.

They are everywhere! They send over terrible deals, add huge mark-ups, and then try to pretend it’s something great. But the fact is: they have no idea what they are doing.

At BiggerPockets, we wanted to change that.

It’s been almost a year in the making… and we’re super excited to finally announce…. today we are officially launching the much-anticipated “BiggerPockets Wholesaling Calculator” designed to help wholesalers analyze deals, estimate rehab costs, determine their maximum allowable offer, and create incredibly detailed reports to give to potential cash buyers!

Trying to find the ideal “maximum allowable offer” is difficult. There are so many factors to consider and analyze and the truth is: most wholesalers take the easy way out and simply make a wild guess on a deal’s worth.

And most of the time they are wrong and end up looking like idiots to their cash buyers.

Not anymore.

Be More Accurate

The BiggerPockets Wholesaling Calculator is unlike anything you’ve seen before. Simple walk through the easy-to-follow steps and discover exactly how much you should offer on your next wholesale deal. You don’t need to be a seasoned wholesaler to get accurate numbers, you just need to do the math. The new wholesaling calculator does just that- while helping you learn just how to analyze and do your deals.

One of the most unique aspects of this calculator is the ability to make different reports for different kinds of cash buyers. If you are trying to wholesale a property to a House Flipper – it doesn’t make sense to talk about rental income. And if you are trying to wholesale a home to a Rental Property Owner, it doesn’t make much sense to talk about the flip!  So we actually built TWO totally different streams within the BiggerPockets Wholesaling Calculator to help you pick the version that makes sense for your buyer. This way – your cash buyer will get to see exactly what they need to make a decision.

Rather than try to explain exactly how the BiggerPockets Wholesaling Calculator works, check out the following video that explains everything!

Look More Professional

Want to look like a pro to your cash buyers? Then be prepared!

With the BiggerPockets Wholesaling Calculator, you are able to print PDF reports to give to your cash buyer, showing them everything they need to see to make a great decision. Here’s how one cash buyer (J Scott, author of The Book on Flipping Houses)

As a serious rehabber who has purchased hundreds of deals (many from wholesalers), I know what information is important for wholesalers to consider and convey to their end-buyers.  This calculator captures not just the bottom line financials, but the details that factor into the bottom line.  If a wholesaler were to provide me this type of report as part of a potential deal, I’d have all the information I needed at my fingertips to make a determination of whether the deal fit my criteria and whether I should move forward on my personal due diligence.

I think that sums it up quite nicely. If you want to sell your wholesale deals to a cash  buyer-  you need to give them all the facts to make a decision. The BiggerPockets Wholesaling Calculator does just that.

How Much Does It Cost

EVERYONE gets to try out the calculator for free up to five times- so head over there right now and check it out.

For those who are BiggerPockets Pro Members, the calculator is 100% included in your membership for unlimited use! This also applies to Plus members, BUT you don’t have the ability to print the PDF Reports to give to cash buyers.

If you are not yet a Pro member, now is a GREAT time to sign up. BiggerPockets Pro is just $29 a month (or less than $25 a month when you pay annually – it’s like getting 2 months free!)

Upgrade today at BiggerPockets.com/pro and let the world know you are serious about your investing.

If you have any questions about the wholesaling calculator, don’t hesitate to ask. You can email us at [email protected] any time, or leave a comment below!

Happy investing!

 

 

About Author

Brandon Turner

Brandon Turner (G+ | Twitter) spends a lot of time on BiggerPockets.com. Like... seriously... a lot. Oh, and he is also an active real estate investor, entrepreneur, traveler, third-person speaker, husband, and author of "The Book on Investing in Real Estate with No (and Low) Money Down", and "The Book on Rental Property Investing" which you should probably read if you want to do more deals.

27 Comments

  1. Kevin Smith

    Brandon, this is Great! As an aspiring wholesaler this is as much a training tool as it is a calculator and as such helps me focus on the important facts and gives me a lot more confidence to make the offer. Bigger Pockets is amazing in what it offers. Thanks @Joshua Dorkin for a great site!

  2. Megan C.

    FINALLY! And THANK YOU! I was committed to reading the article when I saw “crappy wholesalers.” In all fairness, it’s lack of knowledge. They’ve never had to calculate loan interest, holding, and selling costs. “Oh what’s that, you actually wanted to profit from working not his house too?? Forgot to include that in my “steal of a deal” price I’m offering you.” says Crappy Wholesaler #1. If this isn’t yet a mother reason to upgrade to pro membership with BP…. lost cause.

  3. Brandon and bp as a community,
    From the very first time I basically stumbled into this incredible fountain of no BS information every time I have had a question like magic the answer is there.
    I really don’t know what to say to a group of people who have no reason to help me and have not with held anything from me.
    Of coarse I would be honored and feel privileged to join the pro status level. So I guess it can be our little secret that I’m still not that smart except to recognize it when I see it. You’re all so awesome because real estate agents and investment groups are all ready to do business and by now have figured out that I haven’t got back to them with an offer at the least because I don’t know what to offer but more likely that I have no idea what to do.
    Clearly this is a happening market so I definitely want in; I I just don’t want to get in to be IN THE WAY !!
    I almost used a term of endearment to close.
    Highest Regards,
    Gary O

  4. Lamontay Garrett

    I think it is a great tool. Printable reports with numbers laid out make a wholesaler seem very professional, provided they are accurate. As a wholesaler myself my only issue would be that there are numbers that I would not know. As far as holding costs, closing and things of that nature. If I do my comps correctly and have an accurate repair cost, that’s all I need. I will present the deal to my buyers at 70% or better and let them crunch their own numbers. I feel the calculator can make it seem more complicated for guys just starting out. Also, I don’t like that wholesalers fee is included on the printout or the bigger pockets disclaimer. The fee is good for the calculations but not for the printout. When I assign my deal, that’s when my buyers find out. I don’t want to send that to my entire buyers list. The idea of the calculator was amazing, especially the reports. Just wish I could edit what I needed personally. Thanks!!

  5. Jason A.

    Nice report! As a suggestion for something to add, I would include an estimated Eviction Expense for units containing tenants that the investor/landlord expects to remove. Often, properties are put up for sale at distressed prices because of problem tenants. And in my state (MA), eviction expenses and their related losses can be extremely high. It’s something of a “wild card”, but an intelligent estimate (or understanding) of expenses related to eviction can make or break an investment decision (or an investor, for that matter).

  6. Shaun Reilly

    Very cool Brandon.
    I am going to suggest every new wholesaler that comes to me check this out.
    Honestly this is overkill for what I need to see, but if they can fill out this data I know they aren’t just blowing smoke up my tuchas! 🙂

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