If you have Pellego Pro, you can filter through listings using either flip numbers (e.g. min profit) or using rental numbers (e.g. min cash flow), along with traditional search filters (e.g. list price, year built, etc.).
Every filter but location is exclusive. If your min profit is $20,000 and min ROI is 12%, then a listing with $25,000 in profit and an 11% ROI would not display. In contrast, location is inclusive, meaning a property can be in any of the locations.
You can save your search at the bottom of the filters, by adding a name and clicking save. You can have save multiple searches and switch between them with the dropdown in the top right corner of the screen.
You can browse results as a list of cards with a photo and summary details, or on an interactive map. If you are in list view, you can sort the results by latest update, oldest update, lowest price, and largest profit.
From the map view, you can see Flip ROI if you are browsing as Flip and Relative Cap Rate if you are browsing as Rental. When you click on a property, the summary card from the list view will display.
You can view a property by clicking on the card, or you can save it by clicking the bookmark icon.
You can browse and filter listings by flip analysis by clicking the FIND FLIPS from the search bar.
Along with a photo and listing details, flip view displays Pellego's estimated after repair value ("ARV"), rehab costs, financing costs, other costs (e.g. selling costs), and a corresponding flip profit, return on investment ("ROI"), and cash on cash return ("COC").
The flip analysis includes interest-only ("hard money") loans for the purchase price and rehab costs. The loans use 20% down, a 12% interest rate, and a 2% origination fee.
You can read about how these figures are calculated on the Flip Analysis page.
In flip search, you can filter by min flip profit, min flip ROI, and min/max flip rehab per square foot. By default, flip search includes houses and mobile homes, whereas rental search defaults to only houses.
You can browse and filter listings by rental analysis by clicking the FIND RENTALS from the search bar.
Rental summary cards include Pellego's estimated rent, cash flow, and cap rate multiplier.
Cash flow costs assume an 8% property management fee, a 30-year mortgage with 20% down, a maintenance budget, and a vacancy budget.
Relative Cap Rate is the estimated cap rate divided by the average cap rate for the zip code. For example, a 1.3x Relative Cap means Pellego estimates that the subject property's cap rate is 30% better than the zip code average.
You can read about how these figures are calculated on the Rental Analysis page.
In rental search, you can filter by min cash flow, min relative cap rate, and min/max rental rehab per square foot. By default, rental search only includes houses (i.e. no mobile homes).