As you may have already noticed, we recently added new inputs to the property search form. You can now search by number of bedrooms, bathrooms, and garages as well as the percent equity in a deal. All you need to do is click the new “show advanced search options…” link. You can click the image below for a enlarged view….
And then choose any of the new search options. For instance, you can now easily search for a 3 bed, 3 bath, 2 car garage with at least 20% equity — quick as can be!
If you are unfamiliar with “percent equity” it is a formula representing the amount of equity in a deal defined as: ( ARV – Asking Price – Cost of Repairs ) / ARV
For example, let’s say that a house has a $60,000 asking price, needs $10,000 in repairs and will be worth $100,000 after repairs. This deal has $30,000 in equity, which is 30% equity ($30,000 / $100,000).
We hope you enjoy these new features and they help you find your next big deal!