Automating Real Estate Investing: Estimate the monthly cashflow for a property
I am an engineer by day, IndieHacker by night. I have been very interested in real estate and the powers and freedom it can provide, specifically cash flow rentals.
By looking through deals I have found that deal finding can be very redundant and manual. Basically taking the numbers such as financing, hoa fees, accounting for capex and maintenance, property taxes etc. You build your monthly total for expenses and find out comparable rent through a tool like Rentometer. I use BiggerPockets calculator to calculate expenses and it generates a nice report showing cashflow, home equity etc.
There is no reason why I can't know all of these numbers instantly when I click on a Zillow listing. That is why I am building homescope.io, a tool to show you how much a rental can cashflow the second you click on a Zillow listing.
If you have neat tools that help you find and calculate real estate deals, please share!