A common issue 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 easy to calculate the maximum 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:
Keep in mind that this is a premium feature, available in the DealCheck Plus plan. 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 you can pay for this property to meet your criteria. This is your maximum allowable offer for this property.
You will also see a discount from the current price that will be required, as well as the criteria that's the limiting factor of your offer:
Tip: 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 them to see which one is not realistic.
If you're using the Offer Calculator for a wholesale deal, the Highest Offer box shows the maximum price you can pay the seller of the property. You can also see the price you can then offer the property to your investors or buyers below:
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 Purchase Worksheet with the new price and re-calculate all analysis metrics.
Click the Save the New Price button below the new purchase price to do this: