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Comparing Different Scenarios for the Same Property
Comparing Different Scenarios for the Same Property

Quickly create, analyze and compare different scenarios and outcomes for each property.

Cindy Bellford avatar
Written by Cindy Bellford
Updated over a week ago

It is often helpful to create, analyze and compare different scenarios, strategies and outcomes when evaluating each property.

For example, you may want to consider and compare:

  • The "best", "likely" and "worst" outcomes for the same property

  • Different financing strategies, loan terms, or buying with cash vs. with financing

  • Purchasing a property at different price points

  • How different scopes of rehab work will affect your profits and returns

  • A long-term rental strategy with a short-term or Airbnb approach

DealCheck provides a quick workflow you can use to help you accomplish this:

Step 1 - Add a New Property

If you haven't already done so, first add this property to your account, either by importing the data automatically or entering it manually:

Add property button on the main property list

Next, make sure you've filled out as much information on the Property Description and Purchase Worksheet pages as possible to save you time later:

Purchase worksheet page link in property menu

Step 2 - Create a Copy for Each Scenario

Now that you have your property all set up, open the quick action menu on the left side, and click the Copy button to create a copy of this property:

Property duplicate link in property menu

Next, go to the Purchase Worksheet page and tweak the parameters there as needed to reflect a different scenario or strategy you'd like to analyze.

You may also want to change the name of the duplicate you just created on the Property Description page to help you remember which scenario it represents:

Repeat this step and create a copy of the property for each of the different scenarios or strategies you'd like to analyze and compare.

When finished, you should have several copies of the same property with slight variations of the deal parameters.

Step 3 - Compare the Different Scenarios Side-by-Side

Now that you have several copies of the property for the different scenarios, you can view their Property Analysis pages for a detailed breakdown of your profit and investment returns in each case.

But you can also compare them side-by-side to help you see the differences and pick the most profitable outcome.

To do this, navigate to one of the properties and click the Compare link from the quick action menu on the left side:

Property compare button in the quick action menu

And add the other properties to the comparison table by selecting them using the drop-down menu at the top right:

Property comparison view

After you've analyzed and compared the different strategies and scenarios, you can delete all property copies except for the one you'd like to proceed with.

Alternatively, you can archive or tag them to keep them as a reference for later.

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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