Learn More About Lifestyles Quest

Lifestyles Quest is a powerful tool designed for the exclusive use by investor members of Lifestyles Unlimited, Inc. for lightning fast investment property analysis of single family homes, community trends analysis, comparable sales, rental comps and cashflow analysis with customizable preferences. If you have any additional questions not answered in this guide please contact quest@luinc.com. Using Lifestyles Quest to analyze a single family property is fast and easy. Here are a series of screen shots that show the steps involved: Start the analysis: If the property you want to evaluate is listed on HAR.com, just type in the MLS # to start the analysis. If the property is not listed on HAR.com you can still do an analysis, but you will need to enter some of the property information yourself, such as the subdivision, sqft, bedrooms, bathrooms, and year built. Property details: Look at the property's details as listed on HAR.com. Lifestyles Quest gives you important information including property taxes and HOA dues. If taxes and/or HOA dues are not listed for the specific property, look the taxes up through the appropriate CAD (county tax assessor site) and check another property on HAR.com for the HOA dues. Also, make sure that the property tax rate is at least 2.7% -- tax rates that are lower are probably incorrect. Look at pictures: View pictures of the property if you want to get a sense of what the house looks like. Most listing agents include pictures of the outside and inside of the property. Look for signs showing poor conditions such as hanging gutters, tall shrubs, missing appliances, busted driveways, etc. Sales comps and rental comps: Look at the sales comps and rental comps for similar properties. You can easily adjust the parameters of the comparables to increase or decrease the scope of your search. Looking at important information such as the average sales price and rented price will help you determine what your potential investment property could be worth. Quest automatically excludes most foreclosures from this analysis. Cashflow analysis: This is where you determine if your potential investment property is in fact a good investment. Lifestyles Quest can prefill many of the input boxes in the cashflow calculator. You need to fill in an estimate of how much it will cost to repair and do makeready, how much the house is worth in good condition, and how much it should rent for in good condition. Then look at the Unrealized gain, Return on capital gain, and Cash on cash return for your financial analysis. Neighborhood trend analysis: Lifestyles Quest includes a trend analysis that will help you determine if property values in a subdivision are increasing, decreasing, or staying unchanged. Here is an example of the helpful information Lifestyles Quest will provide to you. If you have any additional questions please contact quest@luinc.com. Thank you!