How to Analyze a Rental Property Step-by-Step (15 Years of Experience)

This is how to analyze a rental property step-by-step in 2026. You don’t need to do any complicated math, you don’t need to sign up for a course, and you don’t need to have previous rental property experience. I’ve tweaked this process over the past fifteen years of investing to ensure it gets me the best returns possible while being so conservative that it’s hard to get it wrong. Today, I’m showing you exactly how to do rental property analysis like a pro, even if this is your first investment property. I took a real property from Zillow to analyze in this episode, using real rent and expense estimates, not made-up numbers to make the cash flow look good. I’ll walk through which numbers are crucial to get right, which you can adjust to see if the deal would work in different scenarios, and how to get the seller (instead of you) to pay for some of your costs or lower the price. Every tool I use in this episode is listed below, so use them! In This Episode We Cover How to analyze a rental property, step-by-step in 2026 (with an actual property example) Why you must read the full listing description to find what most investors miss Calculating after-repair value (ARV) to see how much your property could be worth The three different ways to estimate rent price (and which is most accurate?) The returns I need to see to move forward on a real estate deal (which metrics matter most) And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠h⁠⁠t⁠t⁠ps://www⁠.biggerpockets.com/blog/real-estate-1311. Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Dave Meyer?

  This is how to analyze a rental property in 2026. If you want to build wealth with real estate, analyzing deals is the most important skill to master. If you can find a great property and buy it at the right price, everything else becomes easier. And if you can't, that's when you risk losing money. Fortunately, analyzing deals does not need to be difficult. You just need to know which metrics actually matter and how to estimate a few key variables. So today, I'm walking you through it step by step. This is how to take any listing from Zillow or Redfin and determine if it's a property you should buy. I'll share which metrics I personally care about most, explain how to estimate rents, expenses and after repair values,

• 0:45Dave Meyer?

  and reveal which numbers you can compromise on and which you absolutely cannot. I've personally been using this exact process every single day for the last 15 years as I've built my own rental property portfolio. And even in today's market, you can do this too. You can find cash flowing properties that will bring you closer to financial freedom. If you run the numbers the right way. This is how you do it.

• 1:16Dave Meyer?

  What's up everyone? I'm Dave Meyer, Chief Investment Officer at BiggerPockets. Today, I'm taking you through my deal analysis framework. Because being successful in real estate investing mostly comes down to one really simple thing. Finding the right deals and buying them at the right price. And I'm actually going to do this. I'm going to explain it to you by just doing a deal analysis. I went on Zillow, I found an on-market deal, and we're going to walk through it and analyze it. Then at the end, we will get to the metrics and which ones you should pay attention to. But because the calculations of those metrics are pretty easy, we're using the BiggerPockets calculator. If we just put them, the right assumptions into that, all the metrics that you need to know,

• 2:01Dave Meyer?

  like cash on cash return, return on equity, those other things, they're all going to be spit out for us at the end accurately. And I'll talk through how to interpret those at the end of the episode. But we're going to just start now with doing this deal analysis. So the deal that I found and that we're going to walk through together is a duplex, as you probably know. I'm a big fan of small multifamily. I love two to four units. I'm usually looking for duplexes or something similar. And I found one in a market I actually have heard a lot about, never been there, but Augusta, Georgia, home of the Masters Golf Tournament. It is a great market on paper, has really strong fundamentals. So I just started looking around Zillow, looking for on-market deals.

• 2:45Dave Meyer?

  And I found one that looks really intriguing, but we're going to find out together if this is a deal that you should buy or not. So the deal we got, if you're watching on YouTube, I'll pull it up, but if you're listening to it, it's a two, it's listed, I'll say, for $275,000. It's a duplex. It's pretty nice looking, not architecturally inspiring, but it's kind of just a giant box. But it, it looks pretty nice from the outside, pretty solid. It's 1,780 square feet. So each of the units are two bed, one bath, and it's an up-down duplex, which I like personally. I really like deals where it's what's called like a purpose-built duplex, meaning that instead of a house being cut up into,

• 3:28Dave Meyer?

  like a single-family home being cut up into two units, this building was designed to be a duplex. I just, in my experience, that leads to less and less expensive maintenance problems. I still have and buy other types of homes, but I do like these. All things being equal, I prefer a purpose-built duplex. This one's good. The things I liked about it, one, purpose-built. It looks like it's in solid shape from the outside. And I really like that it was built in 1984. That already tells me that the plumbing, the electrical, probably in decent shape, even if it's not perfect, it's going to be much better than some homes that you buy in the Midwest that are like built in the 1920s or even earlier.

• 4:11Dave Meyer?

  And when I look through the pictures, what I see is, I think someone may have flipped this recently. And I know people have, you know, red flags going off like, oh my God, I can't possibly buy a flipped house. But let's just see if the numbers work, right? The reason I say it's flipped is it's really nicely painted on the inside. There's new floors. It looks like vinyl plank. It looks like there's new doors. The kitchens look brand new. So this place is in really good shape. So already, as I'm doing, you know, this preliminary research about my analysis, before I start putting numbers into the calculator, I'm starting to just get a sense of what condition the property is in. Because when we get to the point where we're putting these numbers in the calculator, we're going to have to say how much for repairs,

• 4:56Dave Meyer?

  how much for capital expenses, right? How much vacancy is there going to be? And all of those things are influenced by the condition of the property. If it's in good shape, your capital expenditures are probably not going to be that much, right? If someone just replaced the HVAC or just replaced the roof, you don't have to count on spending money on that for 10 years or maybe even longer. Additionally, if the property is in good shape and if it's in a good condition, you can get a higher end of the rental range. Because one of the key inputs we're going to put into our deal analysis and into our calculator is rents. And a lot of times, whether using the BiggerPockets rent estimator, a similar tool, talking to an agent, talking to a property manager,

• 5:41Dave Meyer?

  they're going to give you a range for rents. They're going to say this place will rent for 900 to 1,200. That's a pretty big difference, right? 900 to 1,200 is the difference between a deal cash flowing and you losing money. So you gotta narrow down that focus. And by looking at, even if it's just pictures, if you're not yet seeing the property in person, you can start to understand that range. So overall, I think it's a really nice looking property. I think I would have an easy time renting this out. And I'm not counting on super high expenses. And I am sort of counting on higher end rent range in the area. One more thing I'm going to look at before I move on to my calculator is just looking through the listing description to see what capital expenditures and improvements have been done.

• 6:25Dave Meyer?

  This is what I really liked about this listing when I saw it. This, this line right here said, "Major capital improvements were completed in 2021." It's only five years ago, "including a new roof." I love that. Roofs can cost $10,000, $20,000, $30,000, and they last usually on average 30 years. And so the fact that that's only a five-year-old roof, that's a major plus. New HVAC system, that's huge, super big expense. Windows are so expensive. They are so expensive. Those were replaced. Vinyl siding, that stuff is bulletproof. That will last forever. Water heaters and exterior doors. So in my head, as I'm just doing this preliminary screening before I jump into the calculator, I'm already seeing that this place is in good shape

• 7:09Dave Meyer?

  and I'm not going to have to come out of pocket a lot on top of my down payment. The flip side to this, which we'll talk about a little bit, is there's not that much value add opportunity, but we'll get to that in a minute. So that's really all you need to do before you start jumping into the calculator. And so what I'm going to do is move over here. If you're watching on YouTube, I'm going to move to the BiggerPockets calculator. But don't worry, if you're listening, I will describe. But if you want to do this and follow along, you can go to biggerpockets.com/calculators and try these out for yourself. So there's basically five steps to working through the calculator. It's number one, putting in the property information. That couldn't be simpler. Number two is purchase details, like what you're buying it for. Number three is financing, what kind of mortgage or loan that you're using.

• 7:55Dave Meyer?

  Number four is your rents. And number five is expenses. So we're just going to walk through each of those five things. Again, the property information is literally, you know, just kind of like writing down what property it is. I just put in the address, which is in Augusta, Georgia, right now. I'm putting that property information in. Calculators will also pull in like some tax information for you. So that's why you put in the address. Next up, purchase details. So this is what you're buying it for. So I'm going to put in $275,000. That's what it's listed for. Now, talk about this a little bit later. We might want to offer under listing price, probably will. But I'm just for now going to put in the listing price, which is $275,000.

• 8:38Dave Meyer?

  The purchase closing cost is the next thing we need to do, which for a property like this, I would estimate about $5,000. You can use that, I think, as a rule of thumb, depending on where you live. But a property this price in Georgia, probably about five grand. If you're buying a more expensive property in a more expensive area, I would use a rule of thumb of like maybe 7,500 bucks. Best way to do this, talk to a lender, talk to an agent about purchase costs in your area. That's the best way to get in a good input. The next thing you need to put in for the purchase details is whether or not you're rehabbing the property. Because if you're doing something like the BRRRR method or if you're buying something that's a little bit rundown and you want to improve the quality of it, you need to account for that in your deal analysis.

• 9:22Dave Meyer?

  This is super important because it's such a valuable, important part of generating a return on a deal, especially today. Now, I did some research into this property. I haven't done the full analysis, but I was just kind of looking into it. Like, is there any way to add value to this property? Because I like it, but it's in good condition. So that's like, it's not a bad thing, but I like adding value where I can. And actually, what I figured out was this does not have a garage. And I could build a garage in this property for about 10 grand. And I think it would add about $25,000 of value. I figured this out. I estimated my ARV, which is the after repair value, what the property is going to be worth after you make these upgrades by looking at comps.

• 10:06Dave Meyer?

  So I went on Zillow, I went on Redfin and found similar kinds of properties that have sold in the last six months. And I tried to figure out the difference between what properties that had a garage versus properties that didn't have a garage were selling for. And my estimation is roughly $25,000. So it's valuable to people in this market. If you are going to do your own value add project, this is, I think, probably the hardest assumption that you're going to have to do. So if you're going to buy a property that you're going to renovate, put new floors in, put new paint on the wall, maybe move walls if you're going to do something more ambitious, figuring out what that property is going to be worth after you do that renovation is a skill and it takes some work.

• 10:50Dave Meyer?

  So I encourage you to try and learn how to do this yourself. But this is also where your agent comes in. This is where your agent should, if they're a good investor friendly agent, they should be able to tell you this. You go to them and say, I like this property. What do you think would increase the ARV? Or I'm going to buy this property and I'm going to renovate the kitchen and both sides of this duplex. What do you think the ARV is there? That's what you should be relying on your agent for. You want to get good at it yourself so you can gut check it because ultimately every decision comes down to you as an investor, but they should be helping you a lot with this. And if you don't have a good investor friendly agent, you can get one for free. BiggerPockets, go to biggerpockets.com/agents. Tons of investor friendly agents there.

• 11:33Dave Meyer?

  But make sure you get this ARV down, right? You want to be accurate on this one. It's off by five grand here or there. That's okay, but you don't want to be, take a big swing and miss. Like if I were to buy this property and say, I'm going to install a garage and that's going to take my value from 275 to 350. No, that is not good. That's going to throw off all of my calculations. I want to be accurate and I don't want to be overly optimistic. I kind of want to be conservative. And so, once you've figured that out, and again, this takes some repetition and reliance on your agent and working with your agent, but I'm going to put in my after repair value into the calculator as 300,000 and my repair costs as 10,000, because that's what I think it will cost. So the last thing you can do here before moving on from purchase details is adjust

• 12:16Dave Meyer?

  the property value growth, basically the rate of appreciation that you expect for this property. Now, you might know this, but over time, property values go up in the United States. The long-term average is like 3.5%. But I personally recommend, and what I do for my own deals is do something lower. I actually put in 2%. And the reason that I do that is because my focus, what I'm doing in this deal analysis is, does this deal make sense for me today? I need to make sure that the cash flow is good today. I need to make sure that the return on equity is good today. And sure, I love appreciation, but I don't want that to be the driver of whether or not this deal makes sense for me. And so I purposely set this expectation low.

• 13:01Dave Meyer?

  And that way, if it still works based on low conservative estimates, any appreciation that I get in the future is just a bonus. And that's how I do it. It's how I recommend most investors do it, but it's sort of up to you. If you want to put it at 3%, 4%, 5%, you can do that. If you want to be even more conservative, you can put it at zero. It's probably unlikely, but you can do that as well. So now we've done our first two steps of deal analysis, which are property information and purchase details. Next, we're going to move on to financing and putting in your loan assumptions, but we got to take a quick break. We'll be right back.

• 13:34Henry Washington?

  Here's a strategy that most W2 employees have never heard of. Normally, if you want to write off a rental property against your regular income, you need real estate professional status. That means tracking hundreds of hours a year. Rent to Retirement just launched a program that skips all of that. It's called the STR loophole tenant placement program. Here's how it works. You buy one of Rent to Retirement's Class A new construction investment properties. You set up an Airbnb listing and self-manage it for the remainder of the year. Rent to Retirement then rents the home as a short-term rental to establish it as an STR for the year, no furnishing required, making this the easy button to save five or six figures in taxes this year.

• 14:16Henry Washington?

  And because you're the sole manager, there's no hourly minimum to meet. That lets you use a cost segregation study to accelerate the depreciation and potentially write off over $100,000 against your income, even on your first rental. Add in cash back up to 13% of the home price, which exceeds $60,000 on some properties. With this massive cash back incentives, investors are seeing total returns up to 126%. New construction, A-class properties, and inventory is limited. Learn more at biggerpockets.com/retirement or text REI to 33777. Again, text REI to 33777.

• 14:58Dave Meyer?

  Summer bookings sound great until someone slips by the pool, gets hurt on your dock, or damages your property during a long holiday weekend. A lot of short-term rental investors don't realize their standard policy may leave gaps when it comes to short-term rental activity. That's why investors use Steadily. They offer landlord insurance built for real estate investors, including short-term rentals. And if you're a BiggerPockets Pro member, you'll also get 5% off your landlord insurance premiums. Visit biggerpockets.com/landlordinsurance to learn more.

• 15:30Henry Washington?

  Quick word about a new pro perk you'll want to know about. Aven. If you're a homeowner, there's a good chance you're sitting on equity that you're not using. The problem is tapping into that usually means a cash out refi, a traditional second mortgage, or weeks of paperwork just to get approved. Aven built something different. It's a credit card, but it's backed by your home equity. So you get a lot of the rate benefits of a HELOC with the flexibility of a card you can use anywhere. Rates are typically well below a standard credit card. Approval is fast and mostly online, and you can use it for anything. A renovation, paying down high interest debt, or just have more breathing room in your budget. And if you're a BiggerPockets Pro member, there's an extra reason to check it out. Get approved for the Aven card and you'll get a $400 statement credit after spending

• 16:14Henry Washington?

  $400 on your Aven card. Enough to cover your entire annual Pro membership. Head over to aven.com/biggerpockets to see if you qualify. Aven Financial, NMLS #2042345. Cards issued per 20 license from Visa USA, Inc. by Coastal Community Bank. NMLS #462289. Member FDIC, equal housing lender. Set up your approval, terms apply. Visit aven.com for details.

• 16:35Speaker 02

  The action's on the court. And as the official beer sponsor of the NBA, Michelob Ultra is getting fans closer to the game with a chance to win courtside seats, merch, and more. Visit michelobultra.com/courtside to enter. Michelob Ultra Courtside, 26 to 27. No purchase necessary. Open to U.S. residents 21+. Begins on October 1st, 2026 and ends on June 30th, 2027. Multiple entry periods. See official rules at michelobultra.com/courtside for free entry, entry deadlines, prizes, and details.

• 17:06Dave Meyer?

  Welcome back to the BiggerPockets Podcast. I'm Dave Meyer, talking through how to analyze a rental property in 2026. Before the break, we got through two of our five steps. Step one was property information. That was literally just copy and pasting. Step two was purchase details, where we put in our purchase price, our closing costs, our repair costs, and our after repair value. Now we're moving on to our financing details, which is basically the kind of loan that you're going to use, or maybe you're buying it for cash. But I'm going to assume most people listening to this are going to be buying things with a mortgage. So you come down here on the calculator for everyone watching on YouTube, but for those listening, basically what we need to put in here is, one, what down payment you're

• 17:50Dave Meyer?

  going to put down in terms of percentage, the interest rate that you are using, the loan term. So are you doing a 30-year fixed? Are you doing a 15-year fixed? Are you doing an adjustable rate mortgage? And then lastly, whether you're paying any points, which I'll explain in a second. So first things first, down payment. If you are an investor, the typical down payment, this is a common misconception, is not 20%. It is 25%. Most lenders require 25% down on investment properties. So I'm going to use that for our analysis today. You might be able to find local lenders that do 20%. That absolutely exists. The big ones usually ask for 25%. The other exception is if you're doing a house hack, you can put as little as 3.5% down if you're doing an FHA loan.

• 18:35Dave Meyer?

  There's even some private loans that do 3.5% down. You can put 10% down. So if you were doing owner occupied, like a house hack, you have a lot more options here. But for me, what I pay on my loans when I go out there is 25%. So that's what I'm going to put in here. That makes my down payment $68,750. And then I'm going to put in my interest rate. This obviously varies day to day, especially right now. But as of right now, I looked it up this morning. The average interest rate is about 6.5%. For investors, you're usually paying a little bit more. So I'm going to put 6.8% for my interest rate here because when you go out and you just Google like interest rate, it's usually for a home buyer. Those folks get lower mortgage rates because they're often backed by the government or for a lot of different reasons.

• 19:20Dave Meyer?

  But 6.8% is what I'm going to do. And I love a 30-year fixed rate mortgage, so I'm doing that 30-year fixed rate mortgage. This is one of the things you want to be accurate about. If you put in 6.2% here and it's actually 6.9%, that can make a big difference in a deal. Maybe not one at this price point, but if you're, you know, at a deal that's 500 grand or 600 grand, that's hundreds of dollars a month. And so you really want to know what your mortgage rate's going to be. Luckily, this is super easy and free. Call a lender. Establish your relationship with the lender. That is the easiest way to get the right inputs and the right assumptions for this part of your deal analysis. It's also where you will get information, one about closing costs, and you'll also

• 20:03Dave Meyer?

  get information about the last question here on the financing details, which is points charged. Now, points are just kind of like extra fees that are added on to a mortgage and you might pay them because you're putting less than 20% down. That is a very common reason you pay points because the lender is taking on more risk by getting a lower down payment. And so they need to be compensated for that additional risk and they do that through points. You also have the option to voluntarily pay points. And I know most people aren't voluntarily giving banks their money, but Often why people do this is you can buy down your mortgage rate. So if you want to do that, you can say, I'm going to pay five grand at the beginning of the mortgage, and I'm going to buy my rate down from 6.8% to 6%.

• 20:48Dave Meyer?

  I'm making those numbers up, but that is something that you can do. Generally, it's a good idea if you expect to hold on to a property for more than eight, nine years, but that's a decision that you have to make. Best way to know how to do that? Talk to a lender. So if you talk to a lender, you're going to have a very easy time getting the inputs for the calculator here. And that's what we're talking about. How do you get good inputs and put into this calculator? For this one, talk to a lender. If you need one, go to biggerpockets.com/lender and you can get matched with one. We also, if you are a pro member, have discounts on loans through some of the biggest providers in the country. You can get literally thousands of dollars off your closing costs. You can get better interest rates.

• 21:28Dave Meyer?

  So go to biggerpockets.com/pro and you can check out those perks if you are a pro member. Just buying one deal, by the way, and getting those benefits on your loan is worth the price of BiggerPockets Pro. So definitely check that out. All right, we've done three of the five steps. We've done property info. We've done purchase details. We've done financing details. We are flying through this thing. I'm going slowly because I'm talking about this a lot, but hopefully you can see that if you practice this, you should be able to do this really quickly. Because honestly, like financing details, not going to change that much from deal to deal. So if you're looking at 10 duplexes in a week, your interest rate, your loan term, your points charge, probably going to be the same. So you can start to get faster and faster at these things. The next one we're moving on to is rent.

• 22:12Dave Meyer?

  This one is super important because if you, if you look at most deals right now in today's market, the cash flow is decent. Some of them are thin, some of them don't cash flow. But a difference here or there in a hundred dollars a month in rent, $200 a month in rent, really does matter. And so you want to get this one as close as possible. There are actually three ways that I look for rents before I plug them into the calculator. Number one is using an algorithm or an automated tool. Like we have one, the rent estimator on BiggerPockets. There are other good ones out there on the market. But you plug in your address, you tell them how many bedrooms, how many bathrooms, and it basically uses an algorithm. It's kind of like a zestimate for rent and tells you what you think rents are.

• 22:57Dave Meyer?

  A lot of times it will give you a range, so you want to make sure you know where in that range you fall. So in this property, when I looked this up, I saw that the range was like $1,000 to $1,400. That's a pretty big difference, right? So I need to know where in that range I fall. And that's why I was looking at the pictures and looking at their location so much because I wanted to understand, is this a good location? Are we going to have a lot of demand from tenants? And how nice is it compared to other properties in the area? And what I am going to do is peg this at the 75th percentile. Now, I never go to 100th percentile, ever. Even if I know I have the best property on the block,

• 23:39Dave Meyer?

  I do not put 100th percentile because I do not, again, I like to be conservative with these things. I do not want to assume I'm going to get the best rent in the neighborhood. Who knows what happens when you go on rent? Maybe it's a bad season. Maybe it's snowing that month. Maybe there's a hurricane. Who knows? So I like to discount it, but I will go up to the 75th percentile. So for me, when I do this and I see 1,000 to 1,400 bucks, the 75th percentile is $1,300. So that is my initial assessment. But I won't just rely on the algorithm. I'll actually take two additional steps. Next step is I will just go on Zillow and apartments.com or whatever you use in your local market and just check out what rents are in the area. And look at comps.

• 24:24Dave Meyer?

  Like if I see there are a bunch of apartments that are similar in quality, similar in location, and they're all listed for 1150, red flag, right? They know something I don't, or tenants are going to go rent there because it's a comparable property that's $150 less. Like that's why you can't just rely on the algorithm. You need to go out there and see what your competition is. And that's what, it's super easily done. It takes 10 minutes to go do this on Zillow and apartments.com. But make sure you are looking at a comparable property in terms of amenities and finishes and in a comparable location. The third, and perhaps the best way to do this, is to actually just talk to a property manager. So if I'm looking and analyzing a deal in a market that I already invest in,

• 25:07Dave Meyer?

  I'll just call my property manager and say, hey, you rent out dozens or hundreds of properties. What's this going to rent for? They're going to know better than Zillow. They're going to know better than any algorithm. And I wait the property manager's input more than anything else. Because ultimately, they're on the hook for that, right? If I am talking to my property manager and they say I can rent it for 1,300, I say, go do it. And then they can't do it, that reflects poorly on them, right? Obviously, things happen, but they are going to be conservative and confident in the numbers they give you because they're the ones that actually have to go out and execute on it. So the property manager is really valuable here. All that to say, in our example that we're going to do here, I'm going to put in $2,600

• 25:50Dave Meyer?

  because I think $1,300 for each unit is believable in this market. I actually saw several that were higher than this. So I'm not going to the high end, but I do have confidence in this property. It's super nice. You saw the pictures if you're watching on YouTube, but trust me, if you're listening on audio, it's just a nice property, right? They both look really good. It's all upgraded. It's in a good market, walking distance to Augusta National Golf Club. Not that you probably can get in there, but it's just a cool fact. All right, so that's what we're putting in for our rent. And with that, we're going to move on to the final step of our deal analysis here, which is expenses. This one is super important. Some of them are really easy, some of them are tricky. So there are two buckets of expenses. Ones that are fixed, you know what they're going to be.

• 26:35Dave Meyer?

  Then there's something called variable expenses. That's the stuff that you don't know when it's coming, but it's coming at some point. Things like repairs, maintenance, vacancy, that stuff. The fixed expenses are property taxes. You know, you should know ahead of time on a Zillow or Redfin listing, it should say your property taxes. Sometimes it doesn't. And if it doesn't, you can easily look this up on any government website. It's free public information. So you can go do this. There's no reason to get this one wrong. I found out for this property, it's $2,800. So I'm going to put in $2,800 annualized. Insurance, you should be able to get this right, too. Call an insurance broker. You don't need to call for every property you do. Call about one duplex. Call about a second duplex. If they're about the same price point, you can assure that that third duplex,

• 27:20Dave Meyer?

  it's probably going to be pretty similar unless it's in like a flood zone or something. But most markets, insurance from property to property, if they're similar kinds of properties, doesn't change that much. And so on a property like this, I am confident that I can get it for about 1,500 bucks a year. The other fixed expense that I know is my property management fee. So for me, as an out of state investor, I don't live in Augusta, Georgia. So if I was analyzing this deal, I need a property manager. I pay to my other property managers in other markets, I pay 8%, 8% of rent. I'm going to assume that I do that here as well. Then comes the trickier ones, which are the variable expenses. These are things like repairs and maintenance, like vacancy and like capital expenditure. And these are just harder to pin down because you don't know when they're coming up, right?

• 28:05Dave Meyer?

  You just don't know when a repair is going to happen. And so what I recommend you do is set aside a certain percentage of your income every single month. Don't take it out. Don't go spend it, even if you accumulated it for a year and that bank account's starting to look big. Don't spend it. Put it aside for repairs and maintenance and capital expenditures. And that is why the BiggerPockets calculator is set up this way. It has it as a percentage. And so for repairs and maintenance, I'm going to use 5%. For capital expenditures, I'm going to use 5%. And for vacancies, I'm going to use 4%. Now, why am I using those numbers? Well, because of this property is in good condition. I actually think it might be below 5% for repairs, maintenance and capex.

• 28:51Dave Meyer?

  It might not be 10% for all those things combined, but I like to use those sort of as the bare minimum. Again, I like to be conservative. In real estate, if you do conservative in deal analysis, it's pretty hard to lose. I think perhaps nothing lowers your risk more than conservative deal analysis. So that's why I do it. And by the way, these are two different buckets, repairs and maintenance and capital expenditure. Basically, because they're treated a little bit different by the IRS. Repairs and maintenance, you can think of as how do I keep my property in the condition that it was when the person rented it? So a toilet breaks, a dishwasher breaks, you need to repaint to get it back to good condition. That's repair and maintenance, keeping the property the way it is.

• 29:34Dave Meyer?

  Capital expenditures are when you spend money to improve the property or those big ticket items like your roof or your HVAC. Those are treated differently as the IRS, which is why we have them broken out in the BiggerPockets calculator. Again, capital expenditure is probably going to be low for the next couple of years on this property because everything was fixed in 2021. But I'm going to put 5% there just because I want to save up some money so that when that hot water tank needs to replace in three or four years, you know, those last eight to 10 years, those replaced five years ago, that's probably the first thing that will go. So we're going to need a hot water heater. It's like a thousand bucks, right? In, in a couple of years, I'm going to start putting away that money from day one. And so I have 5% for there.

• 30:18Dave Meyer?

  And then vacancy, like sometimes I will put up to 8%. I kind of do between 4% and 8%, but this is a nice property where I think people are going to stay. And so I'm basically saying every two years, I'm going to have one month of vacancy in one of the units. I think this is reasonable. If you want to go up to 8%, you can, but I'm pretty conservative and I feel pretty good about this. So that's our major expenses. Again, we did property taxes, insurance, repairs and maintenance, capex, vacancy, management fees, all of that.

• 30:46Dave Meyer?

  The next thing that we need to do is put in our utilities, but I'm actually not going to do that. One of the reasons I like purpose-built duplexes, I mentioned this before, is they are metered separately, meaning they have their own electricity, their own gas. So they just pay them themselves. I don't need to get involved in that. I don't want to get involved with that. I will put 25 bucks a month for water and sewer. That is usually something the landlord pays. I pay that on most of my properties. In some markets, I pay for garbage. I'm going to just put like 15 bucks a month. It's usually pretty cheap. No HOA fees on this property, and that's it. If I wasn't blabbering on here, this would have taken me three to five minutes, right? And with that, I'm going to press finish this analysis and we're going to get our numbers

• 31:29Dave Meyer?

  and find out if this is a good deal or not. Should we go ahead and make an offer? We'll find out after this quick break. You know, when I first started sharing my real estate journeys online, I didn't have a website. I had a spreadsheet, an Instagram account, and no idea how they'd ever connect. I remember thinking a real website was going to cost me thousands of dollars and take a developer weeks to build. So I kept putting it off. Then I found Hostinger. I typed in what I wanted, a site to show off my deals, share my story and capture leads. And their AI builder had a working version live in minutes. No code, no designer, no developer

• 32:09Dave Meyer?

  needed. And it didn't stop at launch. Once my site was live, Hostinger's AI agent helped me figure out what to try next, acting like a built-in team of specialists for SEO, website copy, email marketing, and more. Domain, website, email, marketing. One Hostinger account covers it all. So you're not stitching together five subscriptions or wondering if they even talk to each other. Plans start at just $3 a month, so you can begin at your own pace and build from there. Hostinger builds your vision step by step. Create your website today. Go to hostinger.com/realestate and use code REALESTATE for 10% off now.

• 32:50Henry Washington?

  Buy smart, drive for less, and trade for more. That's Toyota affordability. And it all starts with a great deal from your local Toyota dealer. Make a smart buy on an all-wheel-drive Camry, Corolla Cross, or get a Corolla sedan packed with the latest features, advanced tech, and head-turning style. Take a test drive in two of Toyota's most popular SUVs, the spacious, family-friendly Grand Highlander and adventure-ready RAV4. And with so many hybrid and plug-in hybrid models available across the lineup, plus efficient all-electrics like the BZ, BZ Woodland, and all-wheel-drive CHR, you can drive your way and skip the pump. And long after you leave the lot, your Toyota keeps delivering with legendary resale value

• 33:31Henry Washington?

  built on a reputation for quality and reliability. So when it's time for your next Toyota, you could trade in for more from a great deal today to a great value tomorrow. A Toyota is right for you. Shop toyota.com for deals and details, or stop by your local Toyota dealer today. Toyota, let's go places.

• 33:50Dave Meyer?

  I just booked a ski trip to Park City, and I've already got the whole thing planned out. Five days, first tracks every morning before the crowds show up, my knees reminding me I'm not 25 anymore by the second run, and an embarrassing number of overpriced burritos at the lodge. I don't even care. This is the trip I look forward to all year. But here's the part I actually appreciate. The practical side of my brain kicking in is that my place doesn't have to just sit there empty the whole time I'm away. I can list my space on Airbnb and bring in a little extra income while I'm out getting humbled on a mountain. And with the co-host network, I'm not the one handling all of it. You can partner with

• 34:32Dave Meyer?

  a vetted local co-host who can create your listing, manage reservations, message guests, and even handle the styling. So I get to fully focus on my trip and my place is still working for me the whole time. Find a co-host at airbnb.com/host. Investing in real estate has always been smart, but it hasn't always been simple. Now it's both, thanks to the Fundrise Flagship Fund. The Fundrise Flagship Fund launched more than five years ago with a mission of delivering low-fee access to blue-chip private market real estate. Today, the Fundrise Flagship Fund has grown to manage more than $1 billion of real estate on behalf of hundreds of thousands of investors, making it one of the largest

• 35:15Dave Meyer?

  funds of its kind. For those who believe real estate has an important role to play in their portfolio strategy, the Fundrise Flagship Fund has positioned itself as both a simple and a smart option. Whether you're starting with $10 or $10,000, the Fundrise Flagship Fund makes adding real estate's unique potential for both passive income and consistent growth. Just visit fundrise.com/pockets to make your first investment today. Carefully consider the investment objectives, risks, charges, and the expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the fund's prospectus at fundrise.com/flagship. This is a paid advertisement.

• 35:59Speaker 02

  The action's on the court, and as the official beer sponsor of the NBA, Michelob Ultra is getting fans closer to the game with a chance to win courtside seats, merch, and more. Visit michelobultra.com/courtside to enter. Michelob Ultra Courtside, 26 to 27. No purchase necessary. Open to U.S. residents 21+. Begins on October 1st, 2026 and ends on June 30th, 2027. Multiple entry periods. See official rules at michelobultra.com/courtside for free entry, entry deadlines, prizes, and details.

• 36:30Dave Meyer?

  Welcome back to the BiggerPockets Podcast. I'm Dave Meyer, talking about how to analyze a property conservatively, accurately, in 2026. And before the break, we walk through all the assumptions and numbers you need to be able to put into your calculator to get those numbers. And I just pressed the button on the calculator to find out if this is a good deal. And what I found is very encouraging. So our initial numbers here are that this property is on market. I'm paying full asking price. My initial analysis says I'm going to make $285 a month for a 4% cash-on-cash return. Now, I think that is pretty good. I like these numbers as my first read here. I actually would consider buying this deal

• 37:15Dave Meyer?

  right now, depending on a couple of things. Before I go into that, though, we need to shift to the other skill that I mentioned before. Remember at the top of the episode, I said there's two things you need to be able to do. Number one was put in the assumptions into the calculator. We've covered that. Number two is know which metrics to pay attention to and which ones not to pay attention to. So let's just talk about that for a minute, and then we'll come back to our example here and evaluate each of them. There are basically three metrics that I recommend you look at. The first one, I think, is the thing that most people are attracted to, which is cash-on-cash return. Now, cash-on-cash return, if you want to know how to define it, you can look up the formula. But basically, it's your annual

• 37:58Dave Meyer?

  cash flow divided by the total amount that you invested in that property. And it is a measurement of how efficiently your investment is generating cash flow, right? So just going back to our example, like we're putting in about $75,000 and our cash flow, the total amount of money that we're going to pocket, after all of these expenses, after putting aside money for that water heater, after putting aside monies for repairs and maintenance, after paying our property manager, we're going to get $3,420 per year. And so if you divide 3,420 by that 75 grand, again, I'm rounding here, you get a 4% cash-on-cash return. So what is a good cash-on-cash return? This is a hotly debated topic in the real estate

• 38:43Dave Meyer?

  investing community, and I have a somewhat maybe contrarian take on this. If you were to ask me, is a 4% cash-on-cash return on this deal good? I would say yes. Now, a lot of people would say no to that. They say that they need 8% cash-on-cash return. They need a 10% cash-on-cash return. But I will argue against that for a couple of reasons. First and foremost, start thinking about what level of cash-on-cash return is good compared to other deals that you could buy and is good compared to other things that you could do with your money, right? I could go out and buy a bond and it would get me about 4%. And so I think buying a deal that has a 4% cash-on-cash return in real estate

• 39:27Dave Meyer?

  is way better than going out and buying that bond, right? They both get you the same cash every single year, but real estate has the tax benefits, it has the amortization, the potential for value add, it has all of these things that boost it on top of that. And so if I can get 4% or 5% cash-on-cash return on day one on a property that's in a good market and is probably going to appreciate and is in good condition and probably will have low capex, I think this is a good deal. I genuinely do. I think this is better than almost anything else that you could do with your money. Go find me a better thing you can do with your money than a deal just like this. Maybe you'll say the S&P 500 this

• 40:08Dave Meyer?

  year, yeah. Long-term, over 10, 15 years, I think this is probably one of the best possible things that you can do with your money. So that's our number one metric, cash-on-cash return. The second metric I want you to pay attention to at this stage of your investment is called the compound annual growth rate. Some people call this CAGR. It's a fancy term for just what is your annualized rate, taking into account compounding. Not going to get into compounding, but just trust me, this is a better way to look at it than a plain, simple ROI. The reason I like this metric and the measure we're going to use it is to compare it to other investments, right? I want to compare this deal to whether or not I should be investing in the stock market with this money. 75 grands a lot. Should I

• 40:48Dave Meyer?

  put that in the S&P 500? Or should I put that into this real estate deal? Now, that's what we're going to use CAGR for. Now, you can go Google it. In my book, I have definitions, explain all this in a lot of detail if you're that kind of person. But for now, if not, just trust me, this is an important metric. The higher, the better, right? And so for me, my minimum that I could get on a compound annual growth rate is 10%. The reason this property is only hitting 10% and is only marginally above my minimum right now is, one, because I put in that low assumption for appreciation, which I'm happy about. And, two, it's not a lot of value add. The other way that you get a good compound annual growth rate is by doing renovations. And I'm not really doing that

• 41:31Dave Meyer?

  with this project. So, this is, this is telling me, one, not that I shouldn't buy it, but maybe I need a higher cash on cash return to justify this lower compound annual growth rate, right? And it's also giving me insights into what I need to do next, because I still would consider this deal. I actually genuinely would consider this deal, but it's kind of on the line for me. I would want to see this compound annual growth rate closer to 12%. Ideally, more like 13 or 14%. Why that number? Because that beats the S and P 500. The long-term average of the stock market is like 9, 10%. Depending on who you ask, it's 8 to 10%, right? I want well above that, because real estate takes work, right? It's, it's more work than going out and buying a stock, going out and buying an index fund.

• 42:15Dave Meyer?

  And so what you need to do, in my opinion, is get at least 2% above that, ideally 3% or 4% above that. How do you get that up? Well, in this scenario, there's really only one thing I can do, because normally there are a couple levers that you can play with. You can play with, can I get higher rents by renovating the property? What value add projects can I do? That's probably the most reliable way to improve this number. But with this property, it's already been fixed up. So, there's limited stuff I can do. If I spent more money on the interiors of this property, it would probably be a waste. So, the only thing I can do, and luckily, this is a thing that you can absolutely do, it's a great thing to do in 2026, is you try and get seller concessions. Basically, get a

• 42:58Dave Meyer?

  lower price, right? That is absolutely possible. So, I'm just going to show you, if I go to down on this calculator, I can actually just adjust this price. Instead of 275, what if I can get it for 265? I don't know if I can, but let's just see. All right. This gets us, one, not only to a 5% cash on cash return, so I'm already liking this deal better, this gets me to a 12.6% compound annual growth rate. That alone just got me what I wanted. This takes me from, maybe I would buy this deal, to this, what I would offer. Now, that means I'm not offering full asking price on this deal. This property has been on the

• 43:37Dave Meyer?

  market for 22 days. It's not crazy, but clearly, it's not flying off the shelf at 275, which means the agent and the seller are probably going to be open to a price reduction. And what I'm suggesting here, 265 instead of 275, that is not a crazy price reduction. We're seeing that all the time, all the time. That is a 3% price drop. That is happening every single day. You can get this. So, actually, what I would do is honestly, offer lower than that. I would start, I would probably go into this property and maybe offer 250. Let's just see what that is. 250, that gets us a 6.3% cash on cash return. I like that a lot. And it gets us nearly 16% compound annual growth rate. That tells me, if I could

• 44:22Dave Meyer?

  get that, I would buy this deal. You know, if I talked to a lender, I would talk to my agent, and all my assumptions here are right, and I could get this deal right here, I would buy it, for sure. This is a good deal. So, this is exactly why you do this analysis, why use this calculator. As you can see, I don't, I'm not willing to pay 275. Like, now that I'm seeing this, I'm like, I'm thinking, I wouldn't pay 275 for this. Too borderline. I'm going to go in at 250 and try and get it there. Maybe 255, maybe 260. That's what I'd be willing to pay. That's a good buy. Now, in some situations, just so you know, some people are tied to their purchase price. They love their purchase price, so they really want that 275. Okay, see if you can get other seller concessions. This is stuff that the

• 45:07Dave Meyer?

  seller pays for, either out of pocket, or they give you credits at closing, whatever it is. There are two major things you can do. One is usually you get concessions to make repairs, but this won't need a lot of repairs. So, one option is, hey, I need a garage, you could pay for 10 grand. That probably won't work. They usually aren't going to, like, do a construction project for you. So, the better thing that I would do is ask them, you know, if they're like, I need 275, but I'm willing to work with you on other terms, I would go after the interest rate on the mortgage. Remember when I was telling you before that you can pay those points to lower your mortgage rate? Well, as I said, most people don't want to pay for that upfront, or just give the bank their money, but sellers will do this for you. They will pay that for you. This happens all the time. I sold

• 45:52Dave Meyer?

  the property, a flip that I did, I paid down their mortgage rate, just the other day, right? This happens all the time. So, let's see, if we had to pay 275, would a 6% mortgage get us to what we need? It's okay. That gets us to 5.6% cash on cash return and a nearly 12% CAGR, but that doesn't get us there. So, I would need them to buy it down even further. So, let's see what we see. 5.7%. That gets us to a 6.2% cash on cash return and 12% CAGR. So, I think we need to do better than that. I actually think what we need to do is ask them for a two-point buy down. Get us from 6.8% to 4.8%. If we can do that,

• 46:35Dave Meyer?

  that gets us a great cash on cash return, 8%. And it's a little bit lower than the price reduction, but we still get a 13.5% compound annual growth rate with an 8% cash on cash return. I'd buy that. So, this gives you two options, right? This is what's so great about doing deal analysis this way, is you say, it's not a bad deal as listed. It's not, but it's, it's okay. If you want to make this a good deal, here are your two options. Get that price point down to below 265. Even 265 is good, but I think personally, I would try for lower and try and get 250. Or, get that two-point buy down. You can do this. They can buy your rate down to 4.8%. Builders are doing this all the time. Sellers are doing this. You can negotiate that down. Either of those work, or maybe some combination.

• 47:20Dave Meyer?

  Maybe they go down to 265, they buy your rate down 1%. Let's see what that would get you. If you do that, that gets you 7% cash on cash return, 14% CAGR, another good option. So, something like that is the deal that you do, right? I think the main takeaway here, this part, is that people talk about finding deals, but you have to actually make the deal. You can't just go out and assume that what it's listed for is what you should pay, or how the final deal is going to be structured. By doing the analysis, by using a tool like the calculator, by putting in good inputs, by understanding these metrics and benchmarks, you can go out and design the exact deal that works for you and your strategy. I've given you the way I look at these things, but you might have a little bit different

• 48:05Dave Meyer?

  way of thinking about it. But hopefully, you can see from what we've talked about today, that it really just comes down to two things. Can you get good information to put into the calculator? I explained how to do that. It's really not that hard. It does take some practice. Go out and do a couple of these. It's why I recommend people analyze five deals a day when they're first getting started. Go out and do that. Get that practice. I promise you, you'll get good at this. You'll get fast at it. You will not be intimidated by it. Then, understand these metrics. What's most important to you? Is it your growth rate and your, your equity returns, or is it your cash on cash return? Maybe, if you're like me, it's a combination of those things, and you're willing to be flexible, depending on how these two metrics play out. But if you are able to do this, you will be able

• 48:50Dave Meyer?

  to do the core thing every real estate investor needs to do, which is spot the good deals and ignore the bad ones. That is the key. That is what you are trying to do with deal analysis. And hopefully, after listening to this episode, you are able to go out and do that for your own portfolio. That's our episode for today. If you want to check out the BiggerPockets calculators, again, go to biggerpockets.com/calulator. You can check those out. And if you are a Pro member and want to use some of those perks, go to biggerpockets.com/pro. Thank you all so much for watching this episode of the BiggerPockets Podcast. I'm Dave Meyer, and I'll see you all next time.

• 49:33Speaker 03

  Hey, Bose here. When your next track starts, listen for the decisions that the artist makes. The vocal push right up front, the bass that waits half a beat, that sample from a 70s underground gem. Every choice deliberate. With Bose, you'll hear it all. Your music deserves Bose.

• 49:59Speaker 04

  When you shop pickup at Kroger, you can expect the savings you love and fresh groceries selected just for you. Our associates are committed to getting every detail right, carefully handpicking your items, checking for quality and freshness, and packing your order with care. Because bringing you fresh, quality groceries is what we do best. And right now, enjoy $20 off your first online order of $75 or more. Restrictions apply. See site for details. Kroger, fresh for everyone.