Having a reliable analysis tool in real estate can often be the critical determinant between thousands of dollars in profits and a massive loss. a simple mistake such as omitting a zero or adding instead of subtracting can lead to the loss of a lifetime’s worth of fortune.
Imagine buying your house for $800,000 only for you to realize your neighbour bought a similar house for $500,000. That would hurt, wouldn’t it?
Thankfully, dealcheck.io can help you avoid all that by giving you a chance to find the best deals in the market and their average prices.
What is Dealcheck.io?
Featured on MSN, Forbes, and other influential sites, Dealcheck is a revolutionary tool that allows you to easily analyze and compare almost all types of real estate properties on your computer, phone or tablet.
It does all the heavy lifting for you by providing property comparisons against your purchase criteria, computes the sales and expenses projections, displays recent property sales in your neighbourhood, and allows you to even import data from public records for easy computations.
Features
- Ability to import data points – With Dealchck.io, you can easily search for properties and import dozens of data points, including their list prices, descriptions, value and rent estimates, photos, property taxes, et cetera. Talk of flexibility and quick analysis. And in case you don’t find the necessary data points that you need, you can also enter them manually.
- Easy customization of precise deal parameters – You don’t need to stress yourself with calculators to do the math. Fill in the prerequisites such as purchase price, financing, rent roll, rehab budget, closing cost, and estimated expenses, and then configure the parameters you want to calculate and structure your desired deals.
- Access to detailed financial analysis and projections – This is one of the key features that sets this tool apart. It’s the ability to display all the financial details you need such as cash flows, cap rate, ROI, and acquisition costs, among others to help you figure out the profitability level of different properties. Best of all, it covers both short-term property investments such as flips, as well as long term projections for BRRRRs and rentals.
- Compare sales of sales trends in different neighbourhoods – Dealcheck allows you to ride property trends by analyzing recent sales comps, market statistics and comparable rental listings to help you gauge the appropriate pricing points of different properties based on location and season.
- A ready-to-use calculator for max allowable offers – Make each deal favourable to you by figuring out the highest price you can offer to sellers based on different criteria tailored to meet your unique investment approach.
- Create and share professional property reports – Make presentations less of a hassle by exporting each property’s analysis, projections, comps, and photos in one complete report, either online or in PDF format. Click here to see a sample.
- Access to dozens of property types – Dealcheck gives you access to a wide range of real estate investment opportunities such as rental properties, Airbnbs, VTBOs, vacation rentals, BRRRR properties, flips and rehab projects, multi-family and commercial buildings, wholesale deals.
Who is it for?
This tool can be used by anyone interested in the real estate industry. Whether you’re a homeowner thinking about turning your home into a rental, Dealcheck will help you figure out how much to rent to charge, and your expected income.
If you’re a real estate investor, this tool will make the entire analysis experience quicker and more fun by giving you all the information and calculations you need to make smarter investment decisions.
And if you’re an agent, a broker, or a wholesaler, Dealcheck will make it easier to export your analysis and present it to potential buyers with only a click of a button. You can even add your logo and company info to the reports to inspire that extra bit of confidence.
Limitations
The only major limitation of this tool is its inability to perform bulk property analysis. You have to undertake each property at a time, which is a little time-consuming.
Pricing
They offer three subscription options;
Starter Plan
It is a free option that gives you access to a limited range of features such as up to 15 saved properties, up to 5 property photos, and up to 5 sales and rental comps, among others.
Plus Plan
Costs $10 per month, billed annually. It offers higher capabilities compared to the starter plan by offering up to 50 saved properties, up to 15 property photos, up to 10 sales and rental comps, and up to 10 property templates, et cetera.
Pro Plan
Costs $20 per month, billed annually. It unlocks all the limitations of the plus plan by offering unlimited capabilities on all features.
Note, plans include additional features such as rental cash flow calculator, house flipping calculator, multi-family and commercial calculator, investment return calculations, cash flow and profit projections, flexible financing scenarios, and sales and rental comps, among others.
Click here to view all the features.
Final thoughts
Should you ignore it, shortlist it, or just go ahead and subscribe? Well, it is a definite subscribe for me. First of all, they offer a free option, meaning you can just go ahead and try it without having to commit any money.
I’d suggest you first try their free plan to see if it works for you, and then go ahead and upgrade if you find real value from it. But I promise you’ll definitely find great value from Dealcheck.