WIN January Meetup - Rockford, IL area

[Craig Wilcox]

January Meetup for the Winnebago Investor Network

When: Thursday, January 7, 2016 at 6PM

Where: SAM'S Ristorante, Pizzeria, & Banquet Hall located at 6075 E Riverside Blvd, Rockford, IL 61114.

What: A simple dinner network meetup. There will be no product or service pitches and no long stuffy speeches either. This is to meet and encourage other local investors with their goals for the new year.

Who: Current and future real estate investors in the Rockford, IL area.

Cost: $15 per person for salad and pizza buffet plus soft drinks. Throw your money in the hat before you leave.

* Please reply if you are able to make it and if anyone is coming with you. I need to provide Sam's with a fairly accurate count on Monday, Jan 4.

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@Ernad D., @Christopher Dumelle, @William Clement, @Aaron Mikottis, @Renee Fulcer, @Lloyd Fulcer, @Kyle N., @Gene Ferriter, @Jason Bennett, @Liz Boyer, @Chad Slagle, @Dawayne Robinson, @Account Closed

[Aaron Mikottis]

Hey guys.

I mentioned that I would make a tutorial on the map I spoke of. You can tinker around in it here: https://www.google.com/maps/d/edit?mid=z3TfuPCciUno.k8-0Db1tVAIU&usp=sharing

Step 0

Have a google account. If you don't have one, there are a lot of great free cloud based features that you're missing out on. Register here: https://accounts.google.com/signup?hl=en

Step 1

Go to rentometer.com and click on the try pro! green icon in the top right corner. Scroll down and get a 1 day pass. 

Input all of your current and potential properties' addresses. Download .csv files with all the data that rentometer provides. It should look something like this:

Step 2

Upload your .csv files to your google drive account. Strip down the formatting and add any extra columns for relevant data that you think would be useful to display. For example, I wanted to keep track of the floor finishes, climate control of the surrounding rentals, and I think that it's crucial to add a column for links to rent listings so that I can see photos of my competition. You can copy my file if you want by clicking File --> Make a Copy...

Next, run a google search for all of the addresses provided by rentometer and add in the links and pertinent info to your file. Redfin, zillow, estately, craigslist, etc are all good candidates to pull results from. This will take time but it's worth knowing about your competition, right??

Make sure it's formatted cleanly like mine or you will have issues with the import later. Here is my excel file: https://docs.google.com/spreadsheets/d/1imKFNPB4grfLt_okhi3kBy2wWNNgT-ChjHBpX8htALk/edit?usp=sharing

Step 3

Create a custom google map by going to maps.google.com and clicking on the menu icon, my maps, and then click on create map at the bottom of the page.

Rename your map something sensible by double clicking on the title at the top. Rename your starting layer by clicking on the dots and call it "My properties".

Now, add your properties by entering in their addresses in the search bar and clicking the + Add to Map button. Change their icons to something that will differentiate it from competitor's rentals by clicking on the paint bucket and then the "More Icons" button.

Now we're ready for the competition.

Step 4

Click "Add Layer" for your property and rename it accordingly. I used "2 S Raynor Competition". Click on the Import button directly beneath the title, navigate over to "My Drive", and select the excel file you created previously. It's going to ask you how you want it imported, click on "address" and it will auto place all the competing rental units. 

Then it's going to ask for titles. I chose "address" again. 

Next, click on the paint roller icon that says "Uniform Style", choose "Group Places By", and choose custom style. Set labels to rent. Now everything is sorted with the highest rent up top and the icons show you how much they go for. Finally, click on the paint bucket icons and color your competitor's pins scaling hot colors demanding the highest rent and cooler colors with lower rent.

Step 5

Look at your handiwork and draw conclusions on what an accurate price of rent should be for your property. Add in all your other units' competition on separate layers. Bask in the glory of a great map!

Also...

Here is a link to my instagram account, for anyone interested. I post a good deal of my urban exploration photos here: https://www.instagram.com/pongooleboy/

@Ernad D., @Scott Green, @Liz Boyer, Nick, @William Clement, Ruby, @Christopher Dumelle, @Jason Bennett, Sally and Molly.