Forum Deal Analysis Punchlist

I’ve been reading this wonderful forum for just about a year now and I’ve notice time and time again a beginner Investor asking the veterans if a certain deal is good or not. Inevitably the beginner doesn’t include enough information in his post to get any sort of advice regarding their prospect and is asked for more information. I wouldn’t blame the beginner for this as they just don’t know better.

So maybe a suggestion to the forum (hopefully I didn’t miss this in a previous post or sticky) , would it be worth while to have a sticky that illustrates what information you should provide in a “is this a good deal” post? Such as

  • After Repair Value (ARV)
  • Sale Price
  • Comps
  • Market (area of country)
  • What you plan to do with it (Buy&Hold, Rehab, Wholesale, Bird Dog, etc…)
  • What is the condition of the property
  • Cost of Repairs
  • Is a Realtor involved, if so on which end (buyer or sellers)
  • Is the house in Foreclosure, Preforclosure, REO, etc…
  • What is the sellers motivation for selling
  • are there any arrears

I’m sure to be missing some things, but a punch list like this would help a newbie in numerous ways as well as help the veterans out so they wouldn’t have to give the obligatory “We need more info to help you out” statements.

I know different types of deals require different information, but giving to much information is never a bad thing.

Also please feel free to add items to the list above if you think this is a good idea. If not no problems, this was just a thought.

-Scott Costello

I think that is a good idea, Scott.