How To Analyze Your First Rental Property

Start With A Property
Welcome to ProformaPilot. Start in Find Properties and select a residential listing. When the property type is recognized, you go directly to Property and Income, with available listing details filled in. If you already know the address, start a new Rental Analysis instead.

Review Income And Research
Use Look Up Property to review available records, rent estimates, and comparable properties. Select the values you trust, or use Select All, then Apply Selected Values. Check rent against similar homes. Missing information is a question to investigate, not proof that the cost is zero. A fresh lookup uses one Property Check unless that research is cached.

Build The Ownership Budget
Continue through purchase, financing, and expenses. Enter your lender's expected terms, taxes, insurance, and ownership costs. Include vacancy, maintenance, and capital reserves. Review closing costs and any repairs separately. If your loan payment includes taxes and insurance, do not count those costs twice.

Test Before You Decide
Consider an illustrative property with three hundred dollars in monthly cash flow. Two hundred dollars less rent leaves one hundred dollars. Another one hundred fifty dollars in costs turns that into a fifty dollar shortfall. Test less favorable assumptions, review your results, and save when ready. Each saved version uses one Analysis Save. Start with Try An Example to practice without an account.