Property Analyser tool (BASIC)

[+Mpire_Builder+]

Morning everyone,

I noticed a few people talking about the Property Analyser tool website by another member and various other websites.

I have played around with all of them and they all have their merit.
There is not definitive tool that is the holy grail of property analysis.

When I was looking at regional properties I made a basic spread sheet to assist me in churning though a lot of properties on RE.com.au.

Note:
This is very basic, just provides rough indicators if a property should be looked into further.
Tweak other cost %'s as required..

I use other tools these days such as Pricefinder etc

For the advanced investor this may be useless, but for the beginner or novice it may help you develop your own spread sheet.

Just thought I would pop this up in case it may be of use..

 

[ej89]

What's the 10 second formula?

 

[+Mpire_Builder+]

What's the 10 second formula?

It was a rule of thumb formula by McKnight.
I believe it is out-dated now as its hard to find anything that will be a "pass" based on the parameters of that formula.

 

[Bhp19]

Was at a seminar the other day where the presenter said it's closer to 1.47 now.

 

[skater]

What's the 10 second formula?

In a nutshell, it is basically double the weekly rent, then stick three 0's on the end. If the purchase price is this amount, or less, then it has 'passed', and it warrants further investigation.

It was promoted by Steve McKnight many years ago, and while he may be the first to advertise this, he certainly was not the first to use it.

 

[Big Will]

If only I could find these types of properties in Melbourne 130k price with 290 pw rent I would be in love!