OfflineThis is a very basic ARV excel system I've created provide in the attachment. It uses 3 comparison properties and comes up with your ARV according to the % of ARV you set and gives your maximum allowable profit (every offer is different these are base lines for beginners) and then you set what you want under it to be put into the formula giving your adjusted prices to offer to the seller and it provides your cash buyer's purchase price. I didn't know if anyone else has done this if so I haven't found it. Mine has saved me tons of time coming up with fair and accurate offers without wondering if I fat fingered my calculator and it saves me space as I just save each one with its given date into a folder to tweak as needed until the deal is closed (I still save mine afterwards as well for tax reasons) so I have all the raw numbers right in my face.
I use a much more in-depth version that is still in the trial and error phases with stuff like seller carry back and price per sq/ft rehab costs. It can be inaccurate if used without solid numbers. I use mine to give me a rough estimate of rehab costs by sq/ft for somethings for my initial offer then edit the data in other slots for accurate numbers during the option period. My personal one also includes bonus rehab cost slots for uncommon stuff like if their dog chewed on a support 4x4 beam for their patio. I will provide the in-depth version once I feel confident it works as intended.
Edit (Updated via suggestions)
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bumping for attention...weeee! lol
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
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Good work there, I have my ways of figuring out the ARV of property, This will help somebody just getting started in the business,....John H.
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Sure we all have our ways of finding comps for ARV. This isn't to do that. This is taking those comps and doing the math to come up with ARV. Thank you for your comment btw I hope it will help a lot of people.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
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Awesome work, this spreadsheet is very straightforward and easy to use.
Thanks.
Sure I am glad you enjoy it and I hope many others do as well!
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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What a great tool to have. Thanks for sharing it.
Is there any way to add more than 3 comp houses to the formula?
Andy Sager
DG's AndyS
Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni
Your welcome. Yes there is a way to add more comp houses I've just never felt a need to do more than three as that is what I was taught to use as a minimum. If you would like more just pm me your email and how many you want I will then shoot you one with that amount scripted in to the ARV.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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Hey your welcome. Yea as I said man it was a pain doing it with a calculator and I knew if I was bugged by it, then someone else here could use my system here also!
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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I wanted to make sure this got a lot of attention especially the newcomers as I would have loved to have this myself while starting.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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thank you! this is pretty cool... and very helpful
Valerie
Valerie
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Hey glad you liked it. I hope others find it useful. I was so glad I had this yesterday looking at a property I had an agent get primitive on me and not give me a CMA just her BPO of ARV less repairs so was able to plug it in correctly without to much effort and find it would be a good deal if we pulled it off. Sadly she didn't inform me until afterwards it was a foreclosure auction -.-...not a fan of those and I couldn't bid until the 20th sigh...waste of time. This agent and me were not working out anyways so I've upped for a new one today that laughed when discussing my frustration and why I didn't have one as he was the listing agent to a property I wanted to view. He told me he would love to represent me on this property and many others as he has to other investors that look for properties on the low (under 60k)and high (over 150k) and I fit right in the middle (150k or less). So we will see how that works out lol. I shall find my star one day, but I wont be held back all because I don't have an agent regardless!
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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I hope many more were able to use this system to their benefit then that posted. I would also love any constructive criticism to make it better for myself and everyone else here! Thanks
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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Thanks Jeremiah
Really cool and simplified tool to use. I might rearrange some things like closing date I might consider to move to the top, but I am planning to use this on every deal I close if you don’t mind ☺
Thanks again
No I don't mind at all, that was its intended purpose. I hope you and many others decide to use it and that it will help everyone. Might I ask why you would prefer the closing data moved to the top? Would you suggest its cell be bigger for that same reason? Also is there anything else you might suggest? Thx
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
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Jeremiah,
In my opinion and I might be wrong, closing date always has been important factor when deal is pending! So I would probably move it to row 5 for example. I really like how you laid everything out. All your numbers and formulas make sense as well!!
Thanks again for this tool!!
P.S. I changed brown colors to salad green ☺
Maybe you're correct in that assumption. I took your suggestion to heart and implemented it. I left the green to the cash that was to cross hands. I didn't want that to get confused with anything else. However I did make sure the closing date was now very recognizable at a glance haha. If you or anyone else have any more suggestions let me know. I am still editing my other more detailed version and will add it when I have tested it some more.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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Jeremiah
thanks, i would like to try to use it on my smart phone when i am out hunting for homes! it can be very convenient!! Yesterday I created a facebook page for my business. If you have time check it out, you might consider doing the same thing!
Find me at temkoreinvestments
Also to add,
I will probably upload your excel sheet into my google docs. account and then try to use the document from the phone!
However, not sure if i can add stuff on the excel from the phone
Not sure about that, haven't tried it myself. On the facebook thing I'm still working on that and a LOT of other things. I checked out your facebook, but it isn't a business fan page. You made it a normal facebook page. Was that your intention?
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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did you go to temkoreinvestments?
Ah my wife is the facebook guru in our house and corrected me. I am interested to see how it turns out. I am glad I am not the only person looking at internet marketing.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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edit your comment I got the email address, remove it from the post. I understand Mr. Larsons methods I will add another comp to yours and the main one. I know it isn't always possible to get them within half a mile and 6 months in age with same number of beds and baths. I have learned these are the preferred, but you can do it with three and beds are not worth as much as baths so I try to stick with the same number of baths but I am okay with going up one room if I need one more comp. I will also go out farther then half a mile if I start going past 9 months on sales, but never farther then a mile. My realtor at the time only had data as far back as 15 months so it was making my life hard on one of the properties I was considering.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
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Just ask your buyers how much they pay for propeties and then go get it for the price they told you to get it at.
Works for me, don't overcomplicate things, trust me I've been in your shoes.
I don't even look at comps anymore, I just get what my buyers want.h
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
That is wonderful advice for someone with more experience. Not everyone can just look at a house and rattle off numbers knowing the areas value with depreciation and appreciation values without doing this work for a year or more. Even still with that experience you will still need help from a calculator to determine that your numbers are correct for rehab costs, your spread, and mark up from purchase price to flip price to your end buyer. I personally prefer this to prevent fat fingering technical issues as all the numbers are in front of me. I also think it wise to use this as a reference and as a way to document those costs to provide to your CPA for tax purposes printed off in a document (and saved on hard copy) with the recipes if you are the rehabber.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
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But if your a wholesaler, just get it at what your buyer wants to pay. My buyers tell me exactly what to pay.
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
Visit my website:http://qchomebuyers.weebly.com/
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
Like so many new people want to do.
Find a cash buyer.
Find out what they want, where they want it and how much to pay for it.
Go find what they want, where they want it and at the price they told you.
Sell it to them.
No market knowledge needed to get started.
Learn that once you get in the game.
Just get some deals done.
Click Here To Buy Deans New Book!!! http://www.lanemccaw.bookimentioned.com/b/
Visit my website:http://qchomebuyers.weebly.com/
Visit My Facebook Page: http://www.facebook.com/#!/qchomebuyer
Visit My Linkedin Page: http://www.linkedin.com/pub/the-1-fast-ca-h-home-buyer-in-the-qc/28/b79/...
"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
Good posts guys,
Would like to add,
On MLS I search for the past three month cash transactions in each zip code of my county. Its time consuming but gives a big picture about hot markets and what areas investors like to invest in. I do it every three month and start to notice a pattern, the same few zip codes tend to have most of cash transactions. Oh and guess what, most of cash transactions are “investors”. If you don’t have MLS you can ask your agent but he/she might not want to spend time to do it. You can visit my facebook page TemkoREinvestment and see an example of my map.
Its good to know this tipe of information caz it gives me an idea where to place my bandit signs or send out my expired or vacant letters!
yea I had my last agent pull the last 90 days of cash sales so I could snail mail the non-owner occupy houses (cash investors) to add them to my buyers list and ask them those questions like what areas they prefer to purchase in. I figure why not just ask them lol.
"I have my mountain in sight. I am climbing to the top and I will kick anyone off that stands in my way or tries to hold me back!" --quot by me.
--quot by me.
"My glass isn't half empty, its overflowing!" --quot by unknown modified by me.
"The sky isn't my limit I can keep going!" --quot by unknown modified by me.
"There are too many square people and I think a little differently if that makes me round hey its better than being flat"
Follow me on my Journal:
http://www.deangraziosi.com/blogs/jcommons