Property Detail Form - Lead Specs

Today's Date *

Address

Street Address

City

State

Country

Postal code

Is it on or off market?

Is it listed by a Seller, Agent or Wholesaler | Investor as an assignment?

If Wholesaler | Investor: What’s the total entry cost in $ & %, including their fee & terms?

$ - Dollar Amount
% - Percent

What % of the buy price is the entry fee? If the entry fee is $75k & the sale price is $300k, that’s 25%. Is that a good use of funds?

Whats the cash on cash return?

And, if they’re saying it’s a great deal, why aren’t they keeping it or giving to their friends?

Is it being offered as Cash only or with Creative?

If Creative, what are the Terms, including but not limited to:

Mortgages
Arrears
Seller Carry Balance
Down Payment
Term
Interest Rate (percent)
Balloon
Other

If on market, how long on?

If > 30 DOM, why hasn’t it sold? Longer DOM generally means it’s not priced right for the condition of the Prop and/or that specific market.

I also look at the market it’s in. Ex: if it’s Phoenix, AZ – arguably one of the Top 5 most competitive & investor-heavy markets in the country - and its on market for more than a few weeks, why is that?

Why is it for sale?

What’s the Seller’s Motivation | Pain | Reason for selling? Is it in foreclosure, are the payments late or on time, did the seller pass, BK, job transfer, etc?

What’s the best Exit Strategy (or potential Exits) for this prop - down to two options:

Fix & Flip, meaning a prop that either needs work and/or updating. These are “generally” but not always cash offers somewhere between 50% - 75% of ARV, depending on the Location, Condition, Seller’s Motivation & the Investor’s skill at Problem-Solving & Negotiation. Note: sometimes we get motivated sellers that sell at a big discount due to challenges they’re having & the prop may not need work.

If F&F, what’s the ARV?
Comps
Initial net profit estimate
Does it “pencil” for at least a 10% net profit

Buy and Hold to Cash Flow, which is generally sold closer to ARV (less any required Reno, Arrears, etc.).

What type of cash flow: LTR, AirBnB, PadSplit, Lease Option, is best here, etc?

What’s the initial Est. ARV?

Gross Rents (even Zillow values for a quick “ballpark” number is a good start)

Net Cash flow based on the exit. Example: if the best exit is a LTR that rents for $2,500 & the PITI + HOA + Solar = $2,450, is this a deal to pursue?

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