Beware of Roofstock - especially if you are a new investor.

[Pedro E. Gutierrez]

Beware of Roofstock!!! Especially if you are a new investor.

I bought 2 houses from Roofstock, one of them in Memphis TN which was supposed to be a newly remodeled house but then I discovered internal leaks and the entire electrical wiring inside the house was incredibly irresponsibly done. These repairs have cost me thousands of dollars. Not only that, I had tenants who had to be evacuated in the middle of a pandemic and severe weather conditions. It’s been a nightmare to say the very least.

The try to sell you the promise of helping new investors making the process nice and easy, as if you are buying a house from Amazon. But something you have to keep in mind, they represent the seller, not the buyer. They will take the profit and when problems surface they will pretend like they are there to help, but won’t offer any solutions.

My suggestion is, don’t go though companies like Roofstock to buy a house. They will offer to bring their own inspectors whom of course won’t find any problems with the house, so do your research and due diligence. Don’t make a mistake and buy through companies like Roofstock who are taking advantage of investors like you and me.