What is DealCheck?

A while ago I came across an app called DealCheck and I have been hooked ever since! In fact, I am blown away that more people don’t take advantage of this incredible tool. Therefore, after many months of using this platform, I decided to compile all my thoughts into this extensive review article so you all can check out this app for yourself!

DealCheck is a free rental property analyzer that allows you to quickly look up the stats for any potential rental property. The app is available on your phone and on desktop.

This free service allows you to analyze properties of any kind, including single-family homes, multifamily properties, commercial rentals, potential BRRRR investments, and more! What is even better is you can get an extensively detailed property analysis that includes rules of thumb, cash flow projections, and even rehab budgets.

In this article I will be going over features of the DealCheck app, pricing and subscription plans, how to use this app, and how this app compares to its competitors.

***If you are interested in downloading this free app, be sure to take advantage of my exclusive DealCheck promo code VIP25OFF for when you decide to upgrade to a paid plan!***

How to Use DealCheck

Using the DealCheck is easy and new rental investor can navigate it without issues.

• To begin, you can sign up for a free account here!
• You will then have the opportunity to go through a quick tutorial of the app. When you are ready to analyze your first property go to the + icon at the top right of your screen and click on Import Property Data.
• Then, enter the address for whatever property you are looking to do an analysis on. Information from current listings or from Zillow will pop up and you can click on importing the data. You can also manually enter data on a property if you want to, but I suggesting doing importing through the first option!
• You will then come to a page with details on the property, photos, buy and hold projections, owner lookup, offer calculator, reports, and more. Do note that some of the features will require a subscription upgrade.
• To print off your PDF for the property analysis, or analysis summary, go to the sharing icon at the top right of the screen in order to share these property details with lenders, partners, and others.

If you ever want to upgrade your account, there is a green arrow you can click on at the top of the screen which will take you to the plan upgrade section.

DealCheck Pricing

One great aspect about the DealCheck app is that everyone starts on the free version, and the free version is plenty enough to get started!

DealCheck is free to download and use. However, if you want additional features, it costs $13.99 a month for the plus plan, and it costs $28.99 per month for the pro plan.

Below I have a screenshot of the pricing scale for the free plan, plus plan, and pro plan. These numbers (a screenshot from the website) are slightly different than the numbers above, which were stated on iTunes:

As you can see there are multiple advantages to get a plus or a pro plan. Good news is that you can have a free 14 day trial before ultimately committing to your paid plan!

If you are serious about finding your next rental property investment the Plus plan is a great place to start. Reason being, you will have the ability to save up to 50 investment properties on any device!

One of the best features, that I will be describing below, is the ability to view up to 10 comparable sales and rental listings for each of the properties you are analyzing. This additional feature is huge for when you are considering a property!

8 Key Features of the DealCheck App

1. All-in-One
Whether you are brand new at rental investing and wanting to start looking at properties, or you are an experienced investor, I have found that this app appeals to all types of investors. You can quickly analyze single family homes, multifamily properties, commercial rentals, wholesale deals, and more!

2. In-Depth Calculations
The DealCheck app will calculate rental property rules of thumb, but many more on top of that. You typically would need a lot of time with pen and pencil or software to figure out the more complicated calculations. A few include capitalization rate (cap rate), cash on cash return (COC), return on investment (ROI), the 50% rule, internal rate of return (IRR), debt coverage ratio (DCR), and more!

3. Thorough PDF’s
My favorite feature of the DealCheck app is how quickly I can access a detailed PDF of a potential rental property. A PDF typically includes potential cash flow, full description of the property, a purchase analysis including a handful of calculations, operating income and operating expenses, buy and hold projections, recent comparable sales and listings, photos, and more!  

4. Offer Calculator
After entering a property and your investment criteria into the DealCheck app, you can check out the Offer Calculator, which is a feature that easily guides you to understand the maximum amount of money that you could offer for meeting your cash flow requirements.

5. 35 Year Projections
After the app collects data on a property, you can analyze the predicted numbers for what they could look like 35 years into the future!

6. Imports Data Quickly
After entering an address that you want to analyze, you can get information from Zillow, Realtor.com, and others. There’s plenty of customizable options to enter your own information as well, like photos, MLS number, etc.

7. Speed of Analysis
A great feature about the DealCheck app is that you can go from looking up a property to having a multiple page PDF print off in under 5 minutes. The impressive speed of retrieving an in-depth analysis of a potential property sets this app apart.

8. Excellent Customer Service
Although I have not had to personally reach out to customer service, I have read countless reviews of their great customer service! This is always an important feature for any app or digital platform.

DealCheck vs BiggerPockets

DealCheck’s biggest competitor is BiggerPockets. There are a handful of other rental property analysis apps and tools out there, but I have only had experience with DealCheck in BiggerPockets, therefore I will focus on comparing these two services.

BiggerPockets is known to be the largest hub for rental investors, for learning, networking, and connecting with other investors. They also have a section on the website for calculators including analyzing rental properties, rehab, wholesaling, BRRRR investments, and more.

One huge downside of going to the BiggerPockets route is that you only have 5 free property analyses. After that you need to pay for a Pro membership.

A Pro membership to BiggerPockets costs $39.00 a month, or $390.00 annually.

(BiggerPockets also has a Premium membership at $99.00 a month but it is only available for real estate agent, investment, and hard money lender companies.)

Now, there are a handful of other perks that come with a Pro membership to BiggerPockets but having only 5 property analyses is a big downside if you are looking to not pay much for the service, especially if you are a brand new rental investor.

I have had my five free analyses through BiggerPockets and I have also been using DealCheck for quite a while now. I also have done extensive research into reviews to figure out why people would prefer DealCheck over BiggerPockets, and vice versa.

Here are a handful of reasons why I have found DealCheck to be a superior option to BiggerPockets:

• PDF’s: I have been very impressed with the PDF’s that you can export from DealCheck. Only Pro and Premium members can create PDFs on BiggerPockets.
• Customizable: DealCheck is very customizable, allowing you to create the most exact scenario for your rental property analysis.
• Offer Calculator: This is an amazing feature! The offer calculator allows you to determine the highest amount of money to offer in order to meet your set cash flow requirements.
• Local Comparables:  DealCheck has the ability to analyze similar local properties, also known as comps.

Is the DealCheck Pro Plan Worth It?

Whenever it comes to spending money it is always important to question if it is worth it!

Let’s go through a few questions to figure out if upgrading to a paid subscription plan for DealCheck is right for you.

Are you wanting to invest soon or just learning?

If you are brand new to real estate investing then staying on a free DealCheck plan is probably the best option for you right now. Use the free features to learn more about calculations, explore comps, and learn more about how property analysis works. You can always upgrade to a paid plan when you are ready to officially become a rental investor!

How often will you be using DealCheck?

If you are looking for an app to look at one or two properties then upgrading to paid plan may not be worth the money. But, if you plan to be using the app regularly and will analyze multiple potential properties a month, then it would be worth your time to get all the important details that you would need via a paid plan.

What do you want to get out of using DealCheck?

I personally know many young rental investors who are analyzing a handful of potential real estate investment properties every day. DealCheck offers multiple features that can be extremely beneficial to rental investor, and a paid plan would give you all the features you would need to make sound decisions on a potential investment.

Is $13-$28 extra a month available in your budget?

Prior to adding on any subscription service I always advocate that you consider your personal budget! Adding on an extra $13.00 is not a big deal for some people but if you have a very strict budget then you may need to reallocate some money from one budget category to your subscription service category of your budget.

Summary

After having used the DealCheck app, experienced its features, and discussing it with other investors of my age, I have found that it is a great tool for anyone who needs a quick property analysis with all the important statistics that you could ever want!

I highly encourage you to check out their free option and remember that if you want to ever upgrade, use my exclusive deal check promo code VIP25OFF to save on your upgraded subscription plan!