Street, City, State, Zip
This familiar grid is a quick way to get to the basics of the property. We can send you a template or you can use the following to provide the information quickly..
Location  (0,1,2,3)   ___       Condition (1,2,3)   ___        Price  (1,2,3)   ___       Financing  (1,2,3)   ___        Seller & Agent  (1,2,3)   ___        Total (4=15)  ___
Comments on the above, especially price, financing, seller & agent flexibility.

Please, analyze and assign a point value to each factor. 0 or 1 = Poor. 2 = Average. 3 = Excellent. 
9 = lowest acceptable. 15 = highest possible. If in doubt, pick the lower number.
Greater fools: 9.10,11. Great investors: 12, 13, 14, 15.

LOCATION: 
0 POINTS:  No pride of ownership. Junk and debris in streets. High crime rate. Abandoned buildings and boarded up properties. Close to major streets, industrial areas, or commercial zones. Chimorel will consider at 50-75+% discount from our calculated market value. 
1 POINT: Parking both sides of the street with only room for one car to travel. Limited pride of ownership. Few owners, mostly low income tenants in deteriorating neighborhood. Our interest would be in the potential to clean up and reinvigorate the neighborhood.
2 POINTS: May be clean, older neighborhood. Close to shopping, churches, schools, etc., but not very appealing. Working-class tenants. May be poor location on the upswing with pioneer fixer-uppers. 
3 POINTS: Easy accessibility to all necessary amenities and transportation. Middle class, suburban neighborhoods. Not on busy street. Properties nearby very similar in price. Good foliage and landscaping.

PROPERTY CONDITITION: 
1 POINT: Needs major cosmetic and structural improvements. At least 10% of purchase price will need to be spent immediately to make unit rentable. Improvements do not improve the rent roll. Usually associated with poor location. 
2 POINTS: This is a modest fixer upper! Cosmetic improvements nice but not necessary. Costs not to exceed 5% of purchase price. Improvements immediately add value and make the property more desirable. Not much structural work (if any). The worst house in the best neighborhood. 
3 POINTS: Newer property or older property with significant recent renovation. No problems, clean inside and out, good landscaping. Structurally sound. No work necessary before renter moves in. Solid property.

PRICE: 
1 POINT: 10% or more above the reasonable market price. Consider only if financing is excellent. 
2 POINTS: Within 5% or below market price. 
3 POINTS: At least 10% below market price.

FINANCING: 
1 POINT: More than 20% down. Seller needs lots of cash and wants all of his equity. Or, property will have heavy negative cash flows for more than three years from date of purchase. Consider only if price is excellent. 
2 POINTS: Financing required from an institution with up to 20% down. Credit checks, institutional secured loans from part of the down payment. Seller carries only small amounts. Balloons due in less than 7 years. Even or positive cash flow. 
3 POINTS: Less than 10% of buyer cash involved. Seller carries much of the financing at lower-than market rates with no balloons less than 7 years. 2+% cash flow. Contract sale.

SELLER’S MOTIVATION AND FLEXIBILITY, as well as, Agent Flexibility 
1 POINT: Won’t budge on price or terms. “Take it or leave it.” Doesn’t need to sell. Not anxious at all. In the driver’s seat. Agent inflexible. 
2 POINTS: Might consider a small discount in price. Needs cash for new house or property, bills, etc. May carry small second or contract. Agent flexible. 
3 POINTS: Needs cash for pressing items, i.e. behind in payments, etc. Or, doesn’t need cash at all…have tax, management, transfer, time problems, or divorce. Retiree or investor looking for a solution without major need for cash. Flexible in price and terms. Agent accept note for commission.