Don't Just Use One Spreadsheet
Got a message from a friend the other day, asking if I could send him the spreadsheet I use when analyzing properties.
He wanted to confirm if his spreadsheet had all the same calculations as mine. Confirm that he was analyzing a property the right way.
My response though surely opened his eyes as I asked him "which spreadsheet do you want"?
It turned out, he only uses one generic spreadsheet when analyzing any property he was looking to purchase.
So he was using that one spreadsheet, no matter which way he was investing in real estate, whether it was fix and flipping a property, buying a turn-key property, or buying a property to renovate, rent and refinance.
And, he was using the same spreadsheet to analyze different types of properties, single family homes, multi-units, commercial.
Now, I've been there, I did the same thing when I began investing in real estate.
ONE DO EVERYTHING SPREADSHEET.
Then I learned some very expensive lessons, that you can't analyze a property using one spreadsheet, because each way you invest, and each type of property you invest in, has different factors that you must consider.
Otherwise, you could end up with a property that you lose money on or a property you can't sell and end up having to hold onto it, tying up all your money (I've done this)!
This is why over the years I've created more and more spreadsheets, for the different ways to invest in real estate, and the different types of real estate.
I learnt from my mistakes, which helped me to create my spreadsheets, so that I factored in everything that you must consider whether you are fix and flipping a single family home, or renovating, renting and refinancing a multi-unit property.
If you don't want to make the same mistakes I did, then click here right now, and you can purchase the exact spreadsheets I use.
What you get when you purchase my Analyze All Properties Program is:
All 6 of my (downloadable) spreadsheets, which will help you analyze properties instantly, helping you to build a million dollar portfolio.
PLUS over 6 hours of video walking you through how-to use each of them.
I've also included:
My Annual Budget Tracker, Life Proforma Analysis, and Projected Cash Flow Spreadsheet, which will tell you EXACTLY how much you need to make based on your income and expenses each year to retire!
These will help you in your real estate investing career.
The best part though is they tell you whether to purchase the property or not, based on the rules of thumbs I use to invest in real estate.
I hope they help you as much as they've helped me.
WHAT TO DO NEXT: Start Analyzing Proprieties like Warren Buffet