How to qualify a lead in 20 mins?
A bottleneck for me is keeping up with too many leads to underwrite and make offers on. My VA is bringing leads, but I can't keep up with them all. I spend too much time underwriting a deal, doing a market rate analysis, figuring out what value add there is and where an offer would make sense for me and it doesn't allow me to keep up with all of the leads coming in. How can I spend 20 mins instead of 2 hours determining if a lead is worth diving deeper into? I do some quick math using their revenue, applying a quick 35-40% expenses and then applying a 8-10 cap rate to give me a very rough value, but going one step deeper (but not as far as a full underwriting), what are others doing? Do you treat these all differently or qualify them differently? - on market vs off market deals - How do you determine if a deal looks like a deal you could wholesale - a 3-5 year optimize and sell - and a buy and hold?