Can anyone recommend good real estate investing software, that’s not too expensive? I am a newbie and I want to get into wholesaling but I’m not sure how to assess properties and what price to offer? Thanks for the advice in advance?
I don’t think there is a good software for what you are talking about needing it to do. Assessing properties is something that takes practice and experience. Learning an area, coming up with good comps and then knowing repair costs.
The price you offer on the house is a price you know you know you can make money. You do this by having a buyers list and knowing what they are looking for and for how much. Again you can’t do this with software.
The standard wholesale formula of ARV*70% - repairs - profit is a good bench mark but depending on the area you’ll have to adjust that formula.
I know that’s not the answer you are looking for, but I hope it helps in some way.
Save your money on REI software (especailly in the begining). I use Google Docs (free), MS Excel, Word, and Outlook.
Are these softwares are helpful?
Good real estate investing software makes it possible to analyze cash flows, rates of return, and profitability of rental properties in minutes. Its a fast process. It makes accurate calculations for a wide range of returns. You get list of top ten real estate software tool here http://www.commercialrealestateinvestingeducation.com/top-ten-real-estate-investment-software-programs/
James, that’s a great resource link. I loved the description for “Real Analytics.” It’s almost exactly like my old analysis software. I bought it back in 1985, but it won’t work on anything without 3.5 Floppies, and a dot matrix printer. [really sad face; like losing it, kind of sad face]
This is the first time I’ve seen something that analyzed different property types, and allowed various ‘what if’ financing scenarios, along with charts and graphs proformas to submit to a bank.
The price was a steal.
Good stuff.
When I tried to download the demo, I received a warning that the site’s security certificates had expired. So, I’m gonna do some investigating, before I download anything, just to make sure it’s not something to worry about.
Good post.