I’ve seen it over and over again. An investor falls in love with an investment property, the numbers don’t work and the seller won’t budge on price or go any lower but the investor has become attached to the idea of that property in their portfolio. Or maybe it’s because inventory is low and the investor is struggling to find their next project. Whatever the reason, don’t do it! Know when to walk away. This is where MogulMind comes to the rescue with its personalized advice on potential real estate investments. MogulMind will flat out tell you “this is not a good deal” and it will even explain why it’s not. Real estate investing is fun but not when you’re losing money. Buyers remorse is not fun. When it comes to your real estate investments, your decisions should be objective and data-driven, not based on emotion or instincts. MogulMind gives you the data. It is here to help you evaluate potential investment property purchases and make better investment decisions. It provides insight into real estate investments and helps to increase your ROI.
Flip… or Flop?
Let’s say you are evaluating a potential flip with MogulMind. Did you know that MogulMind goes through every single one of the numbers needed to evaluate the property with a fine tooth comb from purchase to sale? It will tell you what the current value of the property is, it will then analyze the purchase and the renovation. In the renovation analysis it will even tell you if your renovations are costing more than they should and will ask you to take a closer look at things like “are the prices you’re paying competitive?” and “are all of the repairs necessary?”. Then it will analyze your exit strategy. If you’ve entered an unrealistic sales price, it’s going to tell you. It will say, look, you might be setting your sights a bit too high for this property, your sales price is __% more than we’d expect it to sale for.
Maybe the deal you need to analyze is a potential rental property. You’ll need to account for the appreciation, rental income, rent price escalation / increases, loan payments, loan payoffs at the time of sale, and closing costs. MogulMind is going to take care of all of this for you. It’s going to take an in-depth look at ROI, appreciation, IRR (Internal Rate of Return), cash on cash, cap rate, OER (operating expense ratio), the current value, sales profit, projections, and cash flow advice. Whew – that’s a lot. But, no worries because MogulMind’s got it covered. It’s going to analyze every single number. And don’t forget, MogulMind gives personalized advice. For example, it might advise you of something like, “your monthly rental income is $____ below the 1% goal (to earn 1% of the purchase price, per month, via rent income)”. Or, it might give you a pat on the back like, “Awesome! You have a positive cash flow of $_____ per month”. How great is that? It gives positive feedback too.
Sometimes, we come across potential investment properties that we really like and the price is good but you aren’t sure what to do with it. Easy, you’ve got MogulMind to help you compare multiple scenarios and see which scenario will give you the biggest bang for your buck. MogulMind makes it easy to build and compare multiple scenarios for a single property. So maybe you want to take an in-depth look at a potential investment property as a rental, a total renovation flip, and as a minor (or cosmetic) renovation flip. MogulMind is going to intelligently evaluate each one and give it a score letting you know which will give you the best ROI. All in less than a minute.
We investors are people and people sometimes make emotional or instinctual decisions when our decisions should be objective and data-driven. MogulMind gives you the data and individualized advice. It makes it easy for you to make better real estate investment decisions.