Want to spot a winning real estate deal without spending hours crunching numbers? For real estate investors working with wholesalers like SLG Property Deals, speed is everything. Good deals go fast, so learning how to analyze a wholesale property in 10 minutes or less is a major advantage.
Here’s a quick breakdown of how to assess a deal with confidence—even if you’re just getting started.
Step 1: Look at the ARV (After Repair Value)
The ARV is what the home will be worth once it’s fully renovated.
Use comparable sales (“comps”) from the same neighborhood, preferably within the last 3–6 months and within a 0.5 km radius.
Quick Tip:
Look for at least 3 comps that are:
- Similar in size and layout
- Fully renovated
- Recently sold (not just listed)
Example:
If the comps show an average sale price of $750,000, that becomes your estimated ARV.
Step 2: Estimate the Renovation Costs
This doesn’t need to be exact—ballpark figures work for initial analysis.
Fast Formula:
- Light reno: $30–$50/sqft
- Medium reno: $50–$80/sqft
- Full gut: $80–$120/sqft+
Example:
For a 1,500 sqft property needing medium updates:
$60 x 1,500 = $90,000 estimated reno cost
SLG Property Deals often includes renovation estimates in our property sheets to save you time.
Step 3: Know Your Buying Price
This is the price you’d acquire the property from SLG Property Deals. We price our wholesale deals below market to ensure there’s profit left in the deal for investors.
Example:
Purchase price = $520,000
Step 4: Run the Math (The 70% Rule)
A common investor formula:
(ARV x 70%) – Renovation Costs = Max Offer
Example:
($750,000 x 0.70) – $90,000 = $435,000
If your buy price is $520,000, the deal may be too tight for a flip—but could work for a BRRRR or rental strategy. If it’s under that $435K mark, it’s a strong flip candidate.
Step 5: Double Check Location & Zoning
In the last few minutes:
- Google the address
- Check for flood zones, school rankings, and walkability
- Look into zoning for future potential (especially for duplex conversions)
Final Thoughts
Speed doesn’t mean skipping due diligence. But when you get familiar with key numbers—ARV, reno costs, and max offer—you can confidently spot great deals faster.
At SLG Property Deals, we make it even easier by providing:
- Off-market opportunities
- Verified comps
- Quick deal summaries
- Renos & ROI estimates
So you can act fast—and smart.
Want deals you can analyze in minutes?
Join the SLG Property Deals buyer list and get access to exclusive off-market Ontario properties before anyone else.