Learn To Be Rich

We are in the process of considering how to change the way we accept deals submitted to the real estate resources websites.

Right now we accept deals from:

• Investor focused real estate agents and brokers
• Real estate wholesalers
• And researchers

And we use the same exact deal analysis format for all of them. We are considering switching the way we show deals submitted by researchers to be different than those submitted by agents, brokers and wholesalers.

The idea is that we could have researchers submit the known data on a potential deal and then the visitors to the website could go out and estimate their own rent, insurance, taxes (in some cases where taxes are subject to change based on a new sale), property management, vacancy and so on.

With the deals right now, we estimate any fields that are not submitted to us. Of course, with the Offer Generator you can run your own analysis and change our assumptions, but why not even give that to you at the very start and not even give you an estimate of what we think the numbers would be. Instead, we are considering showing you how to figure all the numbers out yourself and letting you learn about it.

I will keep you updated as to whether we decide to do this or not in the near future.

Until my next post,

James

Great news! I just added some new features to the Learn To Be Rich™ game that will automatically show up next time you play.

The new feature now gives even more information than ever before when you are trying to sell a rental property.

In the past, we’d just show you what the buyer was offering and you could accept it or decline it, but now we give you a lot more information to make that decision including: your original purchase price when you bought the house, the current loan balance on the property as well as what you have it listed for to sell (your asking price).

Armed with this new information, it should make it easier for you to sell rental properties.

Enjoy this new feature.

Until my next post,

James

I am constantly trying to improve the Analyzed Deals deal analysis output to provide a better real estate investor experience on our real estate resources websites.

Today, I added a couple new sentences that will be used–under specific situations–on the analysis. The idea is to add more to the analysis to make it more meaningful to the investors that are using it and keep it interesting so that it doesn’t just become data that is spit out to a page.

My plan for the site is to take a lot of the data we accumulate over time to also show trends in the local real estate markets. We will, with some more data, be able to say that this particular deal is better than X% of the other deals submitted as far as cash flow or equity. Of course, a lot of these calculations depend on making assumptions about information like insurance, often property taxes (which change over time and often when a house is purchased), rental income and expenses. So, we will see how good of an indicator they become as well.

In the meantime, enjoy some of the new variation to the current Analyzed Deals analysis that you will start to see this next week as Tammy publishes deals that are submitted to us.

Until my next post,

James