IP Analysis Tool

I have used RealEstateInvester tools trial version for couple of weeks and I find it's ok, but little expensive (if I need both PropertyValuation and Analysis features). I've found Property Data & Analytics | CoreLogic RP Data and looks relatively cheap. But not sure how it is as they don't have a trial period.

There are some free tools (eg: onthehouse) for basic analysis. But I guess it is required a proper tool in order to have a close look. My question is according to your experience which tool is suitable for investment property analysis.

 

What are you wanting to analyse? Is it cashflow? something else?

 

Don't know if it helps, but you can get a free 3 month subscription to PriceFinder if you get a subscription to API mag.
Saving of $500 for a $90 outlay or something like that.

 

What does pricefinder do that onthehouse.com.au doesn't already do for free?

I've tried a bunch of tools and personally I still think the best is a pen & paper or excel.

 

Nothing really, onthehouse does it all.
Silly PriceFinders.

 

Thanks, I was sorta worried I was missing out on something. I also pull RP data reports via the BOQ app.

 

Really need a sarcasm font on here.

 

PriceFinder is pretty good, recommended with the API subscription.

 

OnTheHouse is good to find last sale price. But it doesn't show previous failed sale attempts. For instance, I have found a property that has been trying to sell since mid last year using different agents. But onthehouse shows only the current sale details. And also, onthehouse estimation comes with a pretty big range in most cases.

 

I have been playing around with Real Estate - Find Property for Sale - homesales.com.au a bit, I like it because it lists suburb yield and a few other metrics.

All I do though is take those numbers and drop them in my IP expense calculator in Excel though.

I do use OTH a bit to find a rough idea of price but it swings pretty far from low to high on a property.

 

is the excel calculator a download or did you guys create one?

 

so much info on the internet, good to have it in one place, but sadly even paid sites cannot do everything

re old listings, you can find them too if you look & it does not tell you why they are not selling, so no real benefit anyway. I saw one that had been on and off 4 times, vendors sometimes are not serious either.

 

I made it, you want me to post it?

 

If you can please so we can have a look?

 

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I have removed my own details and entered some basic demo figures to show how it works.

Feel free to post comments or changes

Modify things only in GREEN

Cell B2 is how much you want to pay per IP
Cell B3 is how many IP's you want to buy
Cell C9 is the interest rate of the IO portion of your loan
Cell C10 is the rental yield you are looking for, you can adjust this a little at a time to find the yield you NEED to be neutral
Cell B12 is the remaining loan on your PPOR
Cell C13 is the interest rate on your PPOR loan, also update E13 and F13 to calculate how long is left on the loan.
Cell B14 is your equity loan, typically used for deposits
Cell B18 is the amount you want to pay per month
B20 is just me playing around, it works out how much you will save over the duration if you just bank the excess cash, of course you wouldn't do this.
C26 is the agent fee when you sell, this is used to work out the profit post sell down

I have designed this to be a very basic cashflow calculator, it doesn't allow for different value IP's and it doesn't allow for much deviation from the standard calculations it is designed for. What it does do is allow those who are starting out to plan what they can afford and more importantly what is right for them in terms of numbers and price. It is purely 1 tool for running basic projections to aid you in your IP research, you should be using MANY tools to make these decision, it is NOT designed to make your decision for you.

Before using it, just remember rates are at record lows, pump them up a bit if you want a more accurate idea.

I have put cell comments in the sheet so you can simply hover your mouse over a green spot to get the instructions ie you don't need to keep a copy of this post

This is purely based on formulas and concepts in my head, I am in no way a financial planner or even a finance person, I just like maths and formulas and I adore Excel .

Stamp duty is currently a hard coded percentage, I will update this based on the proper rules at some time in the future.

I am currently taking 40% of the rent out for fees and costs and vacancy rates. If you want to change this, update the formula in B2, right at the end it multiplies by 0.6 (60%), change this as you need

And if the calculator is completely wrong and should never be used by humans anywhere, please let me know so I can go back to the drawing board .