If you're a wholesaler, you can use DealCheck's wholesale analysis tools to calculate the closing costs and total profit of every wholesale transaction, figure out your maximum allowable offers to sellers, and create marketing reports for your buyers and investors.

This tutorial will show you how to analyze wholesale deals with DealCheck in just a few minutes.

Adding a New Property

Step 1: Click the "Add Property" Button from the Property List

Navigate to the wholesale list and click the Add Property button at the top right:

New wholesale property button in the property list

Step 2: Pick an Investor Strategy

You can analyze wholesale properties and create investment reports targeting different types of investor strategies - rental, BRRRR or flip.

Select the type of strategy that will most likely be used by your investors when they purchase this property from you:

New wholesale property wizard - investor strategy

Tip: You will be able to change the investor strategy later, or create multiple versions of the same property targeting different investor types.

Step 3: Select the "Enter Manually" Option

Our software allows you to import property data from public records or copy an existing property, but in this tutorial, we'll add the property manually and explain all of the parameters you can customize along the way.

Select the Enter Manually option to launch the step-by-step wizard:

New wholesale property wizard - enter manually button

Step 4: Fill in the Property Description

The first step is to enter basic details about the property, including a name, property type and address. All of the fields here are optional, so you can fill in as many details as you want.

New wholesale property wizard - property description

Here are the most important fields to fill in:

  • Name: this will be the name of the property used throughout our app. Some people simply use the property's address, while others like more creative names, like "3/1 SFR in South Park, Extensive Rehab".
  • Tags & Labels: you can add custom tags and labels to this property to help you categorize it, track its status and quickly find it later.
  • Address: enter the address of the property to view it on the map, look up sales & rental comps, as well as to access its public records later.
  • Property Type: select the type of the property from the available options. This field is important, as it will enable or disable other fields based on your selection.
  • Description: enter any of the basic home facts that you know about this property, including bedrooms, bathrooms, square footage, year built, parking, etc.

Click the Next Section button at the bottom of the page to continue:

New wholesale property wizard - property description next button

Step 5: Fill in the Wholesale Purchase Information

The next section describes the property purchase from your wholesaler's perspective, as well as from the perspective of the investor.

New wholesale property wizard - purchase

First, customize the following fields under the Wholesale Purchase section:

  • Purchase Price: the amount you're paying to purchase this property from the seller.
  • Closing Costs: these are all closing costs and fees that you will have as the wholesaler. You may or may not have these, depending on whether you're assigning the contract to the investor or performing a double-close with the seller and the investor. You can enter a total amount as a percentage of the purchase price, or click the Itemize button and enter a detailed list of each closing cost separately.

The remaining sections of the new property wizard should be filled out from the investor's perspective, to help your buyers and investors see how the deal will look for them.

Steps 6-8: Fill in the Remaining Property Wizard Tabs

Depending on the type of investor strategy you selected earlier (rental, BRRRR or flip), the next three tabs of the new property wizard will be slightly different.

Go through them and fill in as much information as you have about the property's purchase, rehab, financing and other information from the investor's perspective:

New wholesale property wizard - rehab

If you need any help, or have questions about a specific field, see these help articles for more information:

When finished, click the Save Property button at the bottom of the last page to add this property to your account:

New wholesale property wizard - save property button

Tip: You can save a lot of time by customizing the default presets that are used for all new wholesale properties. Read this help article to learn how to do this.

Viewing the Property's Wholesale Analysis

Now that you've added this property, you can view a full breakdown of the wholesale and investor analysis for it on the Property Analysis page:

Wholesale property analysis

Tip: Hover over the question mark icon next to any metric to view its description and calculation formula.

The Wholesale Analysis section will show you the calculated closing costs and total profit you will get from this transaction as the wholesaler.

If you need to edit any of the parameters of this deal later, go to the Purchase Worksheet page from the property menu on the left side:

Purchase worksheet link in property menu

Calculating Your Maximum Allowable Offer

You can use the Offer Calculator to help you figure out the maximum price you can offer to the seller, as well as the price you can then offer the property for to your investors to satisfy both your desired profit, as well as the investors' criteria.

You can access the Offer Calculator from the property menu on the left side:

Offer calculator link in property menu

Tip: Read this help article to learn how to use the Offer Calculator in detail.

Viewing Investor Analysis & Creating Reports

The Investor Analysis section of the Property Analysis page will show how this deal will look from the investor's perspective, including their purchase and rehab information, financing and investment returns:

Wholesale property investor analysis

You can create and share professional marketing reports that include all of this information for your buyers or investors by going to the Reports & Sharing page for this property from the menu on the left side:

Reports and sharing link in property menu

Tip: Read this help article to learn more about creating and sharing reports.

What's Next?

Once you've added a new wholesale deal, it will remain in your account and you can come back to it at any time from the property list:

Wholesale property list

Here are some other things you can do with this property:

Note: The above screenshots were taken from our online app, but the same features can be found in our iOS and Android apps as well.

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