Real Estate Data Bot

[Aaron Rickett]

Hi All,

I've got an idea for a software that I want to design to help me find Real Estate investment deals and I wanted to find out from others if they feel it would work.

When finding real estate investment do the best deals ever get listed online or do they get sold before they make it online. Generally what is the process that real estate goes through when it's about to be sold?

I work as an actuary so I deal with models a lot. My idea is to create a software that automatically pulls down information from various websites and organizes into data bases and then runs regressions on the data. The information would include address, square feet, school district, price etc. The program then runs a regression on this data and will find houses that are under priced and make recommendations about which to visit and inspect. I feel that having this automation would save me a lot of time looking around at adds myself. Not to mention that it would be more objective than the manner that appraisers generally value the property. Since the model would value properties against others in the area. The only problem is if most investment properties never make it to an online listing, then my data would be biased.

Are there any other considerations that I should take into account. Perhaps I would need to put liens into the model to understand if it's a decent property which would require a number of other sites I'd need to add.

If anyone has already created such a program I'd like to talk to you to find out which factors you used.

Thanks,

Aaron