Zillow Alternatives → 

Joe's Financial Model Workbook Download →

Investment Strategy Lecture Slides Download →

Valuation Examples Workbook Download →

Download the investment template if you haven’t already:

Download the Template →

If in USA - go to your favorite listings site (e.g. Zillow, Trulia, RedFin) and find an active listing for your exercise. If you get stuck, take a wild guess.

If you’re outside of the USA, check the list below for alternative resources for your assignment. Sorry, I'm not familiar with all other markets but if you Google "Houses for sale in YOURCITY", you should be able to find listings for your exercise.

Using the template, replace all the numbers that I used with my example with your numbers for your market. The goal isn't to be accurate but to see what it feels like to run your own analysis. Have fun with it!

Questions:
 - Which method seems to get the most accurate estimate for you when you compare to recent actual sales figures?

 - Is there a HUGE disparity between the methods (>10%)? If so, you probably got something off with the assumptions. Or there is something wacky developing in your market!

Food for thought: How would having the ability to accurately value a property affect how you view the price of the property?

There are no wrong answers here. Every person doing this exercise will see something a little different, even if in the same market unless you're both using the exact same comps.

Zillow Alternatives

Here's a list of alternative resources for finding market comps as recommended by students.

I chose Zillow because the vast majority of my students are based in USA and it's easier to use. But if you're not in the USA, the lessons and the tools are equally useful. You'll just need to find a resource that covers your particular market.

USA

 - trulia.com (pulls from MLS so may be more accurate)
 - redfin.com
 - craigslist.com
 - loopnet.com (more for commercial)
 - Rentometer.com (get quick rent estimate for your property and comps but requires Pro version for additional data)

Canada

 - realtor.ca
 - rew.ca
 - remax.ca
 - craigslist.ca

Latin America

 - pisofincasa.com

Dubai/UAE

 - dubizzle.com
 - propertyfinder.ae

India

 - indiaproperty.com
 - realtor.com/internationa/in
 - 99acres.com
 - https://housing.com/in/

Philippines

 - www.property24.com.ph/philippines/houses‎ homes.trovit.ph/For-Sale/Houses‎
 - www.lamudi.com.ph/house/buy/
 - https://www.realtor.com/international/ph/
 - https://www.olx.ph/real-estate

China (helps if you know Chinese)

 - www.fang.com
 - www.dichan.com
 - www.juwai.com (if you're targeting Chinese buyers with international real estate)
 - Lots of China focused arms of international brokerage houses worth checking out if they have major presence in your target market.

Other International

 - realtor.com
 - europeanproperty.com (reach out to agents with listings in your target market)
 - http://suumo.jp/ (for Japan)

Download the Competitive Analysis Workbook →

Download the Lecture Slides →

Download the NPV & IRR Examples Workbook →

Download the Lecture Slides →

Download the Terminal Value Example Workbook →

Download the Lecture Slides →

Download the Lecture Slides →

Download the Lecture Slides →

Download the Amortization Schedule Calculator Workbook →

Download the Lecture Slides →

Download the Back-of-Envelope Workbook →

Assignment: Run your own rental income property analysis

Follow the example from this section and use this BOE investment model to run your very first rental income property analysis.  

Again, depending on where you are, you may need to Google "Houses for sale in YOUR CITY" to get listing information. Each country/city will have a different destination that has better information so unfortunately, I am unable to find out the best one for each city/country. 

Besides, why cheat yourself of the experience of running your own analysis for property you’re interested in, in a market you’re interested in investing in?  Through struggle you'll learn way more than listing to any lecture I could offer you here.  

So, download the BOE model, and give it a shot. You'll be surprised at how much you can do and how much you'll learn about your market.

Again, there is no right or wrong answers here.  It's all about learning.What did you learn about your market?  What did you learn about the investment analysis process?

Questions:

 - Were the returns what you'd expect?

 - Is the cash flow better or worse than you expected?

 - How has doing a BOE analysis changed your thoughts about your market or investing in general?  

 - What was the best and worst experience of doing this exercise? 

Download the Waterfall Examples Workbook →