All Forum Posts by: Alex Turan

My two cents: I purchased one property (so far) through Roofstock. The inspection report, etc was already posted on the site for the property, making an offer was easy. The downsides I found was like someone above stated: the prices are way higher than the local comps and you as the buyer needs to follow through at each step. I usually “like” a property or portfolio to save it, then go to Zillow or another source to look up each address for comps or recent sales to get the real price before making an offer. My purchase through them was right at the start of the lockdowns in March so the appraisal was delayed. I had to work with the lender and seller to get the tenant to leave while the appraiser was there because of COVID fears. Roofstock did not step up in that regard. True that they delivered a property with a tenant in it and had a legit recent inspection report but I had to follow up on almost everything with the seller’s agent throughout the process as if I was representing myself. This included bouncing docs back to seller 3x because they kept signing seller disclosures that were blank. This was just fine with Roofstock but not by me. Finally, and this is not Roofstock related, I closed late April and because of the lockdowns, the title was not recorded until June, causing me to have to wait until July to get my first section 8 rent check from the city of St. Louis after, once again, following up several times on my own. Once the deal closed in April, Roofstock’s closing agent was done and out. Roofstock is good because they have properties with tenants and have a slick website to help with analysis, but be ready to work the escrow and closing details and don’t let them take the wheel without doing your own doc reviews, etc. I will use them again with the above caveat.