Those of you engaged in REOs and other investment real estate you plan to fix and flip immediately sometimes may just want a quick look at your potential profit and return on investment (ROI).
In other words, short of making a serious investment decision, you just want to make a quick determination as to whether the property is even worth seriously pursuing.
This is regularly the case when investing in these types of real estate properties because it is certainly true that not every fixer-upper is worth the time and effort an investor cares to spend digging further.
Fair enough.
Okay, so let me tell you about a unique online real estate calculator I developed called iCalculator that should be of interest to you. For amongst the many other calculations that it makes in seconds, it also includes a calculator for fix and flip property investors.
The process is extremely easy. You simply fill in the user-friendly form and click Calculate. Then instantly you are shown the results for both your anticipated profit and return on investment.
Example
Let’s say you can buy an REO for $125,000 all-cash with closing costs of $1,150. Property taxes are $3,500 and insurance is $1,800 annually. Utilities should run $80 monthly and you will include $3,000 for other costs. You want to budget $25,000 for rehab costs. You believe the property can be turned around for $220,000 and expect to pay 5% of the price for closing costs. You want an idea of your profit and return on investment if your holding period is six months.
Step 1: Fill in the form.
The following illustration is a screen shot taken directly from iCalculator. Click the image to enlarge.
Step 2: Click Calculate.
Step 3: Read the results.
The following illustration is a screen shot taken directly from iCalculator. Click the image to enlarge.
Step 4: Print the results (optional).
iCalculator also enables you to print the results. This is no where near the quality of reports provided in the ProAPOD Real Estate Investment Software solutions (it’s merely a screen shot). But it does provide you a way to record your calculation if you wish to keep it for further reference.
So You Know
iCalculator computes dozens of calculations just as quickly and easily as that illustrated in this article for the fix and flip properties. It is 100% online so you can access it 24/7 from any device that has an internet connection. It includes a 5-day money back satisfaction guarantee, plus you can save 50% by virtue of this article.
Click here to learn more about iCalculator at real estate calculator your special discount.
