A common dilemma faced by real estate investors is calculating the right offer price to present to the property's seller.
You not only need to know a price the seller is likely to accept, but one which will also make the property a good investment for you.
DealCheck makes it extremely easy to calculate the highest price you can pay for a property to still meet your investment objectives.
Step 1: Open the Offer Calculator for a Property
Go to one of your properties and click the Offer Calculator link from the menu on the left side to access the Offer Calculator:
Note that this is a premium feature, available through the DealCheck Pro subscription. Click here to learn more about this upgrade.
Step 2: Customize Your Investment Criteria
Next, enable and customize the investment criteria you have for this property.
Step 3: View the Highest Offer Price
After updating your criteria, scroll to the top to see the highest price to can pay for this property to meet your selected criteria. You will also see a discount from current price that will be required:
If you see a "Deal Not Possible" message, it means that it will not be possible to meet all of your criteria. Try disabling some of the criteria to see which one is not realistic.
Step 4: Update the Purchase Price of the Property
Once you have an offer price you're happy with, you can update the property's Worksheet with the new purchase price and re-calculate all analysis calculations.
Click the Update Worksheet link below the new purchase price to do this: