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Updated about 2 months ago on . Most recent reply

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Roni Williams
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Roofstock does not care about it's buyers or sellers it seems

Roni Williams
Posted

Their communication is non existent. I purchased a property they managed and was unable to get absolutely no communication or return calls from the property managers. I was blown away by the amount of never responded to emails and communications

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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Quote from @Jonathan Greene:

Why did you choose Roofstock for a one-off investment property in the first place? They are billed as "a scientific approach to single-family rentals" and use "institutional grade property management," which usually means they are a tech company in real estate and likely either don't have the existing property management relationships in each area or you chose an area where they don't have enough units through Roofstock for the PM they chose to care. If the property is good, fire their property management. How many times did you reach out to Roofstock and to the PM company?


Jonathan your on the right track describing Roofstock.. I know them and have been to their offices in Oakland.. they are for sure tech driven.. However the owner comes from corporate world and they started out doing deep dives into markets and moving Hedgefund type portfolios between large investors.. they then decided to offer there service to smaller turnkey type and one offs.. And I think today they are back to basically working large transaction between hedgefunds and Large owners.. So this buyer might have bought during their one off days and they have moved on.. Not 100% sure if they have but I know what the model was when they begun and that middle part.
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JLH Capital Partners

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