Each time BirdDogBot runs a search project, it analyzes the property based on the settings saved in your search project.
If you edit the expense estimates for a deal BirdDogBot found then the next time BirdDogBot updates and re-analyzes the property, your expense estimates will get over-written by the expense estimates saved in your search project.
Is that good or bad? Well, it depends on what you were intending on doing when you updated those expense estimates...
If you were just tinkering with the numbers to see how the deal looks, then when BirdDogBot resets the numbers back, you probably don't mind.
On the other hand, let's say you did a rehab estimate on a property and you updated the expense estimates accordingly. You're not going to be happy if BirdDogBot stomps over your updated expense estimates the next time it updates and re-analyzes the property because you'd have to re-enter the information again.
The solution? Lock your expense estimates. Here's how:
- Login to your account.
- Go to Deals > My Deals.
- Find the deal whose expense estimates you wish to lock and click on the property address to go to the deal's proforma page.
- Scroll down to the expense estimates and click on the "Edit" button to update the expenses.
- (Optional) Change the relevant expense estimates.
- Set the "Lock Expenses" option to "ON".
- Click the "Save Expense Estimates" button.
Now, whenever BirdDogBot updates and re-analyzes this property, it'll use your updated expense estimates for this property instead of the ones saved in the search project.
NOTE: Please keep the following in mind when using this feature:
- BirdDogBot estimates expenses as a percentage of the Estimated Market Value (ARV). The actual dollar amount may still change if the Estimated Market Value of the property changes. Only the percentages become "locked".
- If your expenses are "locked", you can still update them. This "lock" only prevents BirdDogBot from updating them.
- This feature has no effect on user imported deals since BirdDogBot only analyzes imported deals once.
If you have any questions or require further assistance, please contact email@example.com.