DealCheck vs. BiggerPockets: 6 Key Differences
Disclosure: Some of the links in this article may be affiliate links, which can provide compensation to me at no cost to you if you decide to purchase. This site is not intended to provide financial advice and is for entertainment only.
Rental Property Calculator Comparison
Whether you are brand new to real estate investing or have 20+ properties under your belt, having a great property analysis calculator is crucial. I used to use Excel sheets and would take lots of time perfecting my calculators but I found myself constantly tweaking it and probably spending more time working on my calculator than using it for what it was meant for.
From there began my research into finding the best calculator out there, I had tried many but found myself between two; DealCheck and Bigger Pockets Calculator.
In this article, we will compare both and from my research maybe you will be able to decide which one is best for you.
Let's dive right in!
Deal Check Calculator: Dealcheck.com
Enter Discount Code BESTDEAL
DealCheck Property Analysis Calculator
DealCheck was my first calculator to fall in love with. It is a comprehensive real estate analysis calculator that offers a wide range of tools and features. Deal Check caters to various types of real estate investments, from rental properties, fix and flips, BRRR deals, and more. For more information on DealCheck, check out my article "Mastering DealCheck".
Here are some of the key features of DealCheck:
User-Friendly Interface: DealCheck is extremely user-friendly, it is a simple calculator to use that is very vesratile.
Property Analysis: This calculator allows you to input several key details, including purchase price, financing terms, rental income, operating expenses, and more. It then generates a detailed financial analysis, including cash flow, cash-on-cash return, and cap rate.
Investment Comparison: DealCheck enables you to compare multiple properties side by side. This is incredibly useful when you're evaluating different investment opportunities at once.
Property Management Features: It offers tools for tracking income and expenses, managing rental properties, and even handling property inspections.
Mobile App: DealCheck offers a mobile app that allows investors to analyze deals on the go, making it a great choice for those who are frequently on the move.
Integration: The platform integrates with a range of real estate listing websites, making it easy to import property data.
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BiggerPockets Property Investment Calculator
BiggerPockets was my second calculator to find and love after listening to their podcast and wanting to be more involved with a community. BiggerPockets is a well-established, respected name in the real estate investing community. They offer a variety of resources, including a real estate investment calculator that they clearly put a lot of time and effort into creating.
Here are some of the key features of BiggerPockets:
Integration with BiggerPockets Community: The BiggerPockets Calculator is tightly integrated with the BiggerPockets community and website, allowing you to easily access relevant resources, forums, and discussions.
Property Analysis: Like DealCheck, the BiggerPockets Calculator provides a detailed financial analysis, including cash flow, cash-on-cash return, and cap rate. You can also input purchase price, financing terms, rental income, and expenses.
Property Marketplace: BiggerPockets offers a property marketplace, allowing you to browse real estate listings and even connect with sellers.
Rental Property Calculator: In addition to its general calculator, BiggerPockets provides a rental property calculator that is specifically tailored to analyze rental income properties.
Free Trial: BiggerPockets offers free trial to its calculator for members, while also providing a pro version for a monthly fee.
DealCheck Vs. BiggerPockets Rental Calculator for Landlord
User Interface and Ease of Use: Both platforms offer user-friendly interfaces. DealCheck may have a slight edge in terms of simplicity, making it a great choice for beginners and intermediate investors.
Versatility: DealCheck wins in terms of versatility, as it caters to various investment strategies. BiggerPockets Calculator is more focused on rental properties.
Integration: BiggerPockets Calculator seamlessly integrates with the BiggerPockets community, which can be a valuable resource for investors. DealCheck, on the other hand, focuses more on standalone property analysis.
Mobile App: DealCheck offers a mobile app for on-the-go analysis, while BiggerPockets Calculator primarily functions on their website.
Cost: BiggerPockets Calculator offers a free membership option with a free limited trial, while DealCheck has a completely free version with a very useful pro edition for a monthly fee.
Rental Property Cash Flow Calculator, Which One to Choose?
The choice between DealCheck and BiggerPockets Calculator ultimately depends on your investment strategy, experience level, and specific needs. If you prefer a one-stop solution with versatility and a mobile app, DealCheck might be the better choice. On the other hand, if you're an active member of the BiggerPockets community, the BiggerPockets Calculator can be a valuable asset.
In conclusion, both DealCheck and BiggerPockets Calculator are powerful tools for real estate investors. Your choice should align with your investment style and personal preferences, and either one can be a valuable asset in your real estate investing journey.
Deal Check Calculator: Dealcheck.com
Enter Discount Code BESTDEAL
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Frequently Aske Questions
Is DealCheck app free?
Yes, DealCheck offers a free version of its app with basic features. However, there is also a premium version available with additional functionalities for users who require more advanced tools and analysis.
Who owns DealCheck?
DealCheck was founded by Anton Ivanov, who serves as the CEO of the company.
How do you evaluate real estate deals?
DealCheck provides a platform for evaluating real estate deals by inputting various financial data and property details. Users can analyze factors such as purchase price, renovation costs, financing terms, rental income, expenses, and projected cash flow to determine the potential profitability of a deal.
What is the 2% rule in real estate investing?
The 2% rule is a guideline used by real estate investors to quickly evaluate the potential profitability of a rental property. According to this rule, the monthly rental income should be at least 2% of the property's purchase price. Properties that meet this criterion are considered to have strong cash flow potential.
What is the 1% rule of thumb in real estate?
Similar to the 2% rule, the 1% rule is another guideline used by real estate investors to assess rental property profitability. According to this rule, the monthly rental income should be at least 1% of the property's purchase price. Properties that meet this criterion are also considered to have favorable cash flow potential, though less aggressive than those meeting the 2% rule.
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Disclosure: Some of the links in this article may be affiliate links, which can provide compensation to me at no cost to you if you decide to purchase. This site is not intended to provide financial advice and is for entertainment only.