Apollo Advising
Most first-time investors analyze a deal the way the seller wants them to: pro forma rent, best-case expenses, and a cap rate that assumes everything goes right. An independent review starts from the other direction. What will this property actually rent for, based on comparable leases signed in the last six months? What will it actually cost to own, after vacancy, repairs, capital expenses, property management, and reserves? And does the result fit what you are trying to accomplish? This matters because the listing agent works for the seller, and most free online calculators let you type in whatever assumptions make the deal work. Apollo Advising is paid by the hour, not by the transaction. If the numbers do not support the purchase, we say so. That is the entire point.
Market and submarket fit comes first. A metro can be a fine rental market while the specific neighborhood, street, or HOA makes a particular property a bad fit for your strategy. We look at rent trends, days on market, crime and school data where relevant, HOA rental caps and fees, flood plain and insurance cost, and property tax trajectory. Texas has no state income tax, but property taxes and insurance can erase cash flow if you underwrite them from national averages. Then the rent question. Asking rent is not collected rent. We anchor to signed comparable leases, adjust for condition and amenities, and stress-test the downside: what does this deal look like at 90 percent of projected rent with 8 percent vacancy? If it still meets your criteria, it is a stronger deal than one that only works on paper.
Expenses are where most first-time analyses fail. A good underwriting includes vacancy, repairs and maintenance, capital expense reserves (roof, HVAC, water heater, appliances), property management (even if you plan to self-manage at first, price it in so you know the true cost), insurance, property tax at the post-purchase assessed value, and HOA dues. We build the full picture so you are comparing reality to reality. Finally, purchase criteria. The investors who do well over time are the ones who can say no quickly. We help you define your criteria in advance: minimum cash flow after all reserves, acceptable markets and property types, and deal-breakers. With criteria set, each new listing gets a fast yes-or-no instead of an emotional maybe.
Questions we work through
Is this market and submarket a fit for the strategy I want? What rent can this property realistically earn? What do comparable sales and rents show? Do the numbers work with realistic vacancy, repairs, capital expenses, and reserves? What should my purchase criteria be so I can say no faster? House hack, long-term, medium-term, or short-term: which fits this property?
What you leave with
An independent read on the specific property: realistic rent, full expense picture, and whether it fits your stated goals and risk tolerance. Plus purchase criteria you can reuse on every deal after this one, and the questions to take to your lender, inspector, and insurance agent.
This page is general education, not legal, tax, investment, insurance, or lending advice. See our Disclosures.