1Start Here
How to use it, a color key for inputs and outputs, and the disclaimer.
Free spreadsheet
Free Wholesale Deal Analyzer: find your MAO before you make an offer
Comps → ARV → repairs → MAO, plus how a flipper and a landlord will see the same deal.
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Download the spreadsheet (.xlsx)
- Works in Excel, Google Sheets and LibreOffice
- 6 tabs, from repair estimate to deal tracker
- Orange cells in, blue cells out. No macros
What's inside
6 tabs, one deal at a time
Every sheet below is filled with example data so you can see how it works. Replace it with your own deal.
2Deal Analyzer
Asking price, 3 sold comps into ARV, repairs, your fee. Out comes your MAO and a GO / NEGOTIATE / NO-GO signal.
3Repair Estimator
19 line items from roof to cleanout, each with quantity and cost, plus a contingency %.
4Buyer View (fix and flip)
The deal the way a flipper sees it: rehab, holding, financing, selling costs, profit and ROI.
5Rental View (buy and hold)
The deal the way a landlord sees it: PITI, expenses, cash flow, cap rate and cash-on-cash.
6Deal Tracker
A 50-row log of every lead and offer, with an auto MAO, status dropdown and follow-up date.
How it works
3 steps from walk-through to offer
Step 1: Walk the property
Fill in the Repair Estimator as you go. Enter a quantity and a local cost for each item, add a contingency, and the total flows to the Deal Analyzer.
Step 2: Enter comps and your fee
Type the asking price, up to 3 sold comps, your buyer's target % (70% to start) and your assignment fee.
Step 3: Read your MAO
The sheet shows your MAO, the spread against asking, and GO / NEGOTIATE / NO-GO. The sensitivity table shows what happens if ARV or repairs are off.
The math
The MAO formula and the 70% rule
Your MAO (maximum allowable offer) is the most you can offer a seller and still sell the contract to a cash buyer with your fee on top. Here's the formula the spreadsheet uses:
MAO = ARV × buyer's % − repairs − your assignment feeBuyer's max price = ARV × buyer's % − repairs. Your fee comes out of that number, not on top of it.
The 70% rule: a fix-and-flip buyer pays no more than 70% of the after-repair value (ARV), minus repairs. The other 30% covers their closing, holding and selling costs and their profit.
70% is a starting point, not a law. Some buyers pay more, some want less. Ask the cash buyers you work with what number they use, and change the target % in the sheet to match.
ARV comes from comps: recent sold homes near the property, similar in size and type, in fixed-up condition. The sheet averages up to 3 of them and shows the price per square foot so you can spot an odd one.
Example numbers only
| Sold comps: $245,000, $250,000 and $240,000 | ARV $245,000 |
| ARV × 70% (buyer's target) | $171,500 |
| Minus repairs (Repair Estimator, with 10% contingency) | − $63,360 |
| Buyer's max price | $108,140 |
| Minus your assignment fee | − $10,000 |
| MAO: your max offer to the seller | $98,140 |
| Seller's asking price | $95,000 |
| Spread (MAO minus asking) | + $3,140 |
| Deal signal | GO |
These are the made-up example numbers that come in the spreadsheet. They aren't a real deal or local pricing.
Use the numbers
Show the seller and your buyers the same math
With the seller
Show them the comps next to the repair list. It's easier to talk price when a seller can see what fixed-up houses sold for and what theirs needs to get there.
The numbers do the talking, so you don't have to argue.
With your cash buyers
Flippers and landlords look at the same house differently. The Buyer View shows a flipper's costs, profit and ROI. The Rental View shows a landlord's cash flow, cap rate and cash-on-cash.
Send each buyer the view that fits how they invest.
FAQ
Deal analyzer FAQ
What is MAO in wholesaling?
MAO stands for maximum allowable offer. It's the most you can offer a seller and still leave room for your cash buyer's profit and your assignment fee. The common formula is MAO = ARV × 70% − repairs − your fee. Offer more than that and the deal usually won't sell to a cash buyer.
What is the 70% rule?
The 70% rule says a fix-and-flip buyer should pay no more than 70% of the after-repair value, minus repairs. The other 30% covers their closing, holding and selling costs plus their profit. It's a starting point, not a law. Some buyers pay more and some want less, so ask your buyers what number they use.
How do I calculate ARV from comps?
Find three recently sold homes close to the property that match it: same type, similar size, beds and baths, in fixed-up condition. Add the sold prices and divide by three. Check the price per square foot too, so one odd sale doesn't throw it off. The spreadsheet does the averaging, and you can override the ARV if you know the area better.
Does it work in Google Sheets?
Yes. It works in Excel, Google Sheets and LibreOffice. In Google Sheets, use File > Import, or upload it to Drive and open it. Google Sheets ignores Excel's sheet protection, so the formulas are editable there. Type only in the orange cells and leave the blue ones alone.
What do GO, NEGOTIATE and NO-GO mean?
GO means the asking price is at or under your MAO. NEGOTIATE means asking is above your MAO, but by less than your fee, so there's room to talk. NO-GO means the gap is bigger than your fee. That's usually a pass, or a lower offer backed by your comps and repair list.
Is the spreadsheet really free?
Yes. Enter your first name and email and I'll send it to you. No credit card and nothing to buy. You can unsubscribe from my emails anytime with one click.
Run your next deal through the Deal Analyzer
Comps, repairs, your fee and your MAO on one sheet, plus the flipper and landlord views. Free.
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Download the spreadsheet (.xlsx)Disclaimer: Estimates only. The Wholesale Deal Analyzer is an educational calculator, not legal, tax or financial advice, and the results depend entirely on the numbers you enter. Every number on this page and in the spreadsheet is an example. David Frizzell is a real estate wholesaler, not an attorney or financial advisor. Verify ARV, repair costs, taxes, insurance, closing costs and your local rules with local professionals before you make or accept an offer. Wholesaling laws vary by state.