The best way to find good deals is to look at every opportunity. That is why each hour, Pellego performs its Flip Analysis and Rental Analysis on every active MLS listing in its coverage areas.
Every filter but location is exclusive. If your min profit is $20,000 and min ROI ("Return on Investment") is 12%, then a listing with $25,000 in profit and an 11% ROI would not display. In contrast, location is inclusive, meaning a listing will display if it is in any of the locations.
Pellego Pro Tip: You can filter by negative profit and/or negative ROI.
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.
On the map points, 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.
The cards display the days on market ("DOM"), the city, the last update and time, the type of listing, some structure details, and the Pellego's pro-forma flip or rental financials.
When you hover over a card, it will become blue in the list and on the map. If you bookmark a card, it will become orange and you will see the number of bookmarked listings that are still active.
You can view a property by clicking on the card, or you can save it by clicking the bookmark icon.
Above the map and cards is a white summary and action bar.
Above the map on the left is the number of listings that match your filters. To its right are saved searches; you can save a current search or switch to an existing one. There is no limit to the number of saved searches, so you could set one for each investor buyer you work with.
Next to the right (above the cards) is "Costs" with an show/hide icon; if you click this, it will show or hide costs to make the cards smaller. Next is the bookmark filter, which will show just those you've saved.
Finally, there is the sort by dropdown. By default, results are sorted by Last Update, so listing with more recent price or status activity are at the top. You can also sort by Oldest Update, Newest DOM, Oldest DOM, Max Profit, and Min Profit.
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).