One of the most important skills you can learn in real estate is deal analysis. Far too many investors have jumped into buying properties without enough due diligence.
Many times, the results ain’t pretty. Unfortunately, then it’s too late. You can’t go back to the store and return the item you just bought.
Deal analysis can be really boring. The type of person who takes risks and invests in real estate is often struck with some form of ‘Entrepreneurial Attention Deficit Disorder’ (look it up, it's a thing). Trying to sit down and focus when your mind’s running a million miles a minute is tough.
What you need is a tool. Some kind of guidance in doing the analysis for you. All you need to do is gather some information about the deal. Then you plug it into some software and voila! – you have all the analysis done for you.
Where to find a tool like that?
You can ask your CPA to make one up for you. Nah – too expensive.
You can make one up yourself.…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.