Real estate comparison & screening sheet

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Check it out at this link! Originally created for the post: ‘Full Financial Details of Midwest Single Family Rental’

What it is

A property comparison sheet I use to review and screen the deals that come my way. Each property should take up a single row, allowing you to edit the various inputs to arrive at a reasonably comparable view of cap rate, and cash-on-cash yield.

Why I created it

With real estate investing, you’ll want to take a lot of pitches before you swing. This means you’ll potentially review tens or hundreds of properties a month. Doing a full write up on each property is impossible. Instead, it’s better to do a quick review of the deal in this screening sheet – there are two benefits to this:

  • Property selection: You can quickly assess whether you like the deal, and what the returns might look like
  • Market awareness: You will generate a nice overview of properties in the market you’re considering. After a few weeks of reviewing potential deals, you’ll have a nice inventory of what properties are selling for within your sub-market

This helps you quickly get a sense for value in the market you’re considering. You’ll soon be able to know if you’re at least getting a decent deal, compared to other property sales.

How you can use it

Make a copy of this sheet and start using it to track all the properties you review. This is as much analysis as I will do before putting in an offer on a property. If you get into contract, that’s when you can sharpen your pencil and make sure all your assumptions are solid. But until you get to that point, stay high level. Move fast.

Enjoy!

Ramen-san

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