Has anyone used ClickInvest to find deals?

Question

I am a newbie and in my search for various sources for value add properties I came across ClickInvest Program. I was wondering if anyone has any experience using their service/software and how accurate have you found the rehab estimate (and other numbers for that matter)? I thought the monthly fee was a bit steep, but not sure if I was just being penny wise, but pound foolish.

Michael J Scanlon · Answer

As a realtor who lists a lot of properties, I inevitably have a fair amount that attract offers from Clickinvest.

They are completely legitimate but none of my sellers have ever accepted an offer from them. The offers vary but typically don’t eclipse those of other buyers but can be close.

The main issue as to why we’ve never accepted an offer from them is that my sellers ALWAYS prefer an equivalent offer from someone who has seen the property, whereas clickinvest is all sight unseen. It’s a shotgun method so it may work sometimes but it’s worth keeping in mind.

Scott Mednick · Answer

I tried clinckinvest paying their $3500 upfront for their software. I thought either it was cheap or expensive. I know others have found many deals on the platform. I live in So CA, but I am doing deals in Chicago. I did both platforms, one, I would "click" on the deals that I wanted, I did not get any deals, the second, the agent that helps you does the clicking, or makes offers on your behalf. I still did not get any deals. I tried for 5 months to get it going to at least to get one deal so it pays off. They really have a good system. But after that did not work, I did ask for my money back. Well, here is where it gets insulting. The owner asked if I am new, NO, I have been flipping for 20 years and get the business and run a REIA in So Ca. I know what I am doing and not afraid to pull the trigger. Then the agents that were assigned to me did not tell the truth about my experience or the owner made up that I had found deals and did not want to move forward. NOT True! As successful as they seem to be, giving back one refund seems silly and that I have to share this with others like this. They do have a good system with contractors in place, but when it comes to customer service, that is not that great at the management level. If you choose to use them, it would be better if you live in the market that they serve. JMHO. Good luck to who reads this.

Rosario Terracciano · Answer

@Mark Faustrum thanks for sharing your feedback and experience with Clickinvest.  We're certainly blessed to have you as a client. @Jonathan Klemm, thanks for questions, I'll do my best to answer them below.

The hit rate is dependent on several variables.  To Marks point, pre pandemic when there were more properties in inventory and competition was less fierce, several of our clients experienced higher hit rates than they currently do.  Ironically though, we also have clients who regardless of market conditions, are consistent at picking up properties, in some cases on a monthly basis, without missing a beat. Every client is different.  Some are looking for cashflow, some are looking for flips and some are licensed GC's that have crews they are looking to keep busy. Everyone has different financing sources and terms, experience levels and motivation. A deal that works for one client may not work for another because of all of these variables. What we pride ourselves on is sending out hundreds of pre-vetted deals every day, adding up to nearly 800 opportunities sent out last month alone, and giving you the client the ability to just Click a button to initiate the offer right from your phone. When I say pre-vetted, I'm not referring to a random AVM(Automated Valuation Model).  Though we use algorithms to sort and find opportunities, we have full time in house analysts who are reviewing every deal that will be sent out, determining the ARV and pegging a rough rehab estimate using internal tools. They also select ARV and Rental Comps for you so you can make a decision quickly and not have to start from scratch. We have found that clients who have the most success are the ones who, similar to Mark, know what they want and are ready to get out and walk the property should they have a shot at it.  Clients who just submit a ton of low ball offers without any rhyme or reason don't do really well within Clickinvest. Our agents do their best in coaching the clients on what works and doesn't work, but in the end, it is the clients call on how they want to pursue a deal, and we have a fiduciary responsibility to submit all offers.

As for Illinois vs Florida.  Rehab estimates in IL are the biggest variable between the 2 states.  With basements and unfinished attics, IL rehabs are typically more costly than ranches in Florida without basements. Inventory and competition wise, it goes back to strategy and skillset.  Florida is very competitive because of the current population growth.  Where we tend to win in Florida is with the speed of offer and aggressive offer terms.  Florida also has an amazing short term rental market, which is why we will soon be offering short term rental underwriting as another option within the platform. Other additions to the platform in both states include 2-4 units, and soon we will be offering vacant lots for build to flip and/or build to rent investors. I hope I've answered your questions. Please feel free to reach out to me if you have any other questions. Thanks! Rosario

Mark F. · Answer

I am a Clickinvest member and while there platform annual subscription is not cheap by any means it does what it is designed to do, and it does it fairly well. When I first signed up in Feb of 2020 I figured if I got one deal through their service I would pay for itself, I ended up getting 3, I renewed my subscription for 2021 and have purchased two properties through ClickInvest so far this year and I have 2 others we are working on trying to get under contract currently, and in fact was at one of them just today with my C.I agent. I've communicated with @Rosario Terracciano a few times and found him to be a standup guy without a doubt. Likewise the agent(s) I've worked with were always helpful and did their jobs as expected.

As far as the analytics, its as good as can be expected, of course if you know your local market you might be able to adjust the numbers slightly with your boots on the ground knowledge of the area, same goes for construction/renovation costs. Considering their analysts have not physically inspected the property in person and going by what they can see they are making fairly good predictions. The key component is quick and fairly accurate analytics to provide you with a reasonable estimation of renovation costs, ARV and recommended purchase price but all of those things are adjustable to meet each investors individual need. The other key component is to be able to effortlessly and quickly make offers with only the click of a button. They have my LLC Docs, proof of income and digital signatures all uploaded to my profile, I can click "submit offer" and literally place an offer on a property. Previously if I had to have my buyer broker do it for me it might take 45+ min to work up the 7.0 contract, sent it to me for DocuSign and get it submitted to the sellers agent, I can now make the same thing happen in 10 seconds! Another case and point, I have an investor friend who is an agent and even has his own brokerage, he signed up for ClickInvest just because of the time he saved for him to even write his own offers.... that has to tell you something.

Mark F. · Answer

@Jonathan Klemm pre-pandemic I was probably getting 1 acceptance out of 10 offers, but my offers are strong, usually $10k+ EMD, 10 day closing, no inspections or contingies and I do walk the property and do my own inspections once we have a "verbal acceptance". This year, with the market as tight as it has been the success rate is lower but I am guessing we have all seen that with the current dynamic of less available properties, higher costs and more competition. From what I've seen on the emails that go out to Clients it seems that FL IS KILLING IT!

I'm sure @Rosario Terracciano can comment on that as well as what other investors might be doing globally on their offer vs acceptance ratio.

Gerald D To · Answer

@Rosario Terracciano, thank you for the insights here on clickinvest  processes. So to follow up your last response, I’m wondering which markets your construction crews are currently active in? Thanks

Account Closed · Answer

@Milton Brown I have the same question. I’ve heard some people recommend the platform. I’m wondering if anyone has had success using it and if it’s worth the price. I’m also a new investor and feeling like I need some extra help getting started.

Jonathan Quilon · Answer

I just spoke to a representative from clickinvest and came here to also ask for testimonials of anyone’s experience with them and to find out if the numbers their software spits out are realistic.  As of now, they charge $3,500 annually for full access.

Jonathan Klemm · Answer

@Mark Faustrum - That's interesting and makes sense.  How many offers do you have to make with clickinvest to get a winner?  Assuming the hit rate isnt great with the shotgun approach but sounds like it's working.

I also wonder how Clickinvest is working in Illinois (chicago) vs. Flordia which I believe they expanded to? @Rosario Terracciano

Writing tons of offers is definitely key in getting one accepted.

Mark F. · Answer

@Jonathan Klemm, the membership subscription is $3500 a year and the platform actually has significantly more properties in and closer to the City of Chicago then this far out. You'd be better at knowing ARV and construction costs down that way but I'd imagine there analytics are fairly comparable across the board.

The other thing to take note of, as per the membership contract that ClickInvest will be the buyers agent on the properties purchased through them, with a $3000 minium commission requirement. I just consider it a cost of doing business just like any other sunken costs and for me, I it's not a big deal at all since the seller pays those costs anyway, not a bad thing just something to be aware of especially if you have your license.

Has anyone used ClickInvest to find deals?

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