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Updated about 9 years ago on . Most recent reply

User Stats

13
Posts
3
Votes
Bogdan Glushko
  • Beachwood, OH
3
Votes |
13
Posts

Real Estate Investment App

Bogdan Glushko
  • Beachwood, OH
Posted

Hi All,

I am a software developer who recently gotten into real estate investment. While working on my first few deals, I've discovered many great REI platforms and tools. Being always on the go, I have struggled to use those tools, so I decided that maybe I can make a mobile app. The app would integrate some of most useful features and communicate with some of the REI platforms to feed back the data, as well as offer many stand-alone perks. Here are some features that I am considering implementing:

  • Customize-able templates and models. Punch in some numbers and reuse a previously set up template to run a quick analysis of a potential deal, maximum allowable offer, hold vs flip, etc.
  • Saw a sign "For Sale by Owner" while driving by? Quick Snap will let you take a picture of the sign and use your GPS coordinates to store property address in the system, as well as pull up any public data - instantly!
  • Contact Directory - organize your network, clients, partners, at the palm of your hand.
  • Instant Rehab Calculator - walk through the house and simple check Yes/No on things that will need to be done in the house. A previously set up template for pricing will be used to give you an instant price for a rehab, without you punching numbers in any calculators ever again. Take pictures of what needs to be done, while you at it, and save them all in one place - property profile.
  • Property Management features - keep all your properties in one place, keep track of rent, spending, and profit. Project cash flow and see the pick of your property's deterioration so you know when to sell.
  • Run instant comps, powered by Zillow and Redfin Sold / Active / Expired listings.
  • Full sync with REI platforms such as Realeflow or REI Blackbook. Add a property on the go, run a comp, take pictures, or do a rehab estimate, and sync it back to the software you use.
  • Modern and intuitive design, like on some of the best apps you use on your phone. 
  • I am planning to make it free, but might add a small premium for multiple users or for cloud storage. 

I would love to hear your feedback! Please let me know what other features you would love to see in this app, or if you have any suggestions or recommendations. Thank you!

Most Popular Reply

User Stats

218
Posts
49
Votes
Jose Guevarra
  • Real Estate Agent
  • Mira Mesa, CA
49
Votes |
218
Posts
Jose Guevarra
  • Real Estate Agent
  • Mira Mesa, CA
Replied

Nice to see fellow developers here however, your idea is all over the place. You should focus more on the NEEDS of the industry rather than throwing out features of a product. Identify a pain point in the industry that's not being address correctly, find your target market, and go solve that with an app. Lookup lean startup methodologies or product development then apply that to REI. I bet you'll have a higher chance of identifying something of value that way.

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