Roofstock Property Listings over priced?

[Chris Scott]

Hello all,

I am looking to get into real estate investing this year. I have been doing as much research as possible and have gravitated towards turnkey investing in single-family houses to start. I have been very interested by Roofstocks platform and am interesting in buying a property through it. 

However, my one issue has been that many times when I find a property I am interested in, I use the online property valuation tools and Rootstocks list price is consistently far above the given market value.  

I am using tools like Zillow, Realtor.com, and past sales in the area to find these values. I know that these tools are not perfect, but in my home area of Denver the tools are at least in the ballpark. 

In many cases on Roofstock, the list price is 10-30k higher than all the other valuations of houses in the area. Even houses that are for sale near the property at the same time. 

SO my question is... are these list prices on their site high to make room for negotiation, are they just overvalued to provide better value for the sellers on their site, or am I totally wrong for thinking these properties should not be listed this high.

Anyone with experience in Roofstock? I would love to hear your comments on this. 

Thanks all!

Chris Scott 

[Tom Ott]

Originally posted by @Chris Scott:

Hello all,

I am looking to get into real estate investing this year. I have been doing as much research as possible and have gravitated towards turnkey investing in single-family houses to start. I have been very interested by Roofstocks platform and am interesting in buying a property through it. 

However, my one issue has been that many times when I find a property I am interested in, I use the online property valuation tools and Rootstocks list price is consistently far above the given market value.  

I am using tools like Zillow, Realtor.com, and past sales in the area to find these values. I know that these tools are not perfect, but in my home area of Denver the tools are at least in the ballpark. 

In many cases on Roofstock, the list price is 10-30k higher than all the other valuations of houses in the area. Even houses that are for sale near the property at the same time. 

SO my question is... are these list prices on their site high to make room for negotiation, are they just overvalued to provide better value for the sellers on their site, or am I totally wrong for thinking these properties should not be listed this high.

Anyone with experience in Roofstock? I would love to hear your comments on this. 

Thanks all!

Chris Scott 

 I just wouldn't trust it. They are like an Amazon market place trying to sell listings. I would rather go with someone local for properties. If you are looking to buy a Turnkey in Cleveland than seek out someone who is local and operates within Cleveland, not someone far away like that.