All Forum Posts by: Bogdan Glushko

Thank you all for your amazing replies! Like Jose said, my plan is to follow the "lean" approach. I want to answer this question: "What real pains can a quality mobile app solve for real estate investors?". The features that I proposed a some of the pains that I have endured myself, but they are all over the place, so I plan to narrow it down to 1 feature at a time and keep adding them on to the app. 

Naturally, I see a mobile app being a solution to investors when they are on the go. For example:

• Driving around neighborhood
• Being at a potential property, i.e. inspecting it for a rehab or checking property outside if it's a sheriff sale.
• For property managers to be at property, doing maintenance, or collecting rent.

I am sure there are many more scenarios where an app can be very handy, to help investor while he is on the go. The apps available out there are, mostly, not fit to do the job, or do it poorly. Some of the REI apps I used had poor user interface and user experience, making it nearly unusable.

What other problems can a mobile app potentially solve for you? Does organizing your contacts in one place on your mobile a good feature, or using Outlook or just your phone Contacts list sufficient? Does instant analysis tools at the palm of your head, such as MAO or Cash Flow Calculator, solve any inconveniences? Please let me know. Your feedback so far been very useful!

Hi All,

I am a software developer who recently gotten into real estate investment. While working on my first few deals, I've discovered many great REI platforms and tools. Being always on the go, I have struggled to use those tools, so I decided that maybe I can make a mobile app. The app would integrate some of most useful features and communicate with some of the REI platforms to feed back the data, as well as offer many stand-alone perks. Here are some features that I am considering implementing:

• Customize-able templates and models. Punch in some numbers and reuse a previously set up template to run a quick analysis of a potential deal, maximum allowable offer, hold vs flip, etc.
• Saw a sign "For Sale by Owner" while driving by? Quick Snap will let you take a picture of the sign and use your GPS coordinates to store property address in the system, as well as pull up any public data - instantly!
• Contact Directory - organize your network, clients, partners, at the palm of your hand.
• Instant Rehab Calculator - walk through the house and simple check Yes/No on things that will need to be done in the house. A previously set up template for pricing will be used to give you an instant price for a rehab, without you punching numbers in any calculators ever again. Take pictures of what needs to be done, while you at it, and save them all in one place - property profile.
• Property Management features - keep all your properties in one place, keep track of rent, spending, and profit. Project cash flow and see the pick of your property's deterioration so you know when to sell.
• Run instant comps, powered by Zillow and Redfin Sold / Active / Expired listings.
• Full sync with REI platforms such as Realeflow or REI Blackbook. Add a property on the go, run a comp, take pictures, or do a rehab estimate, and sync it back to the software you use.
• Modern and intuitive design, like on some of the best apps you use on your phone. 
• I am planning to make it free, but might add a small premium for multiple users or for cloud storage. 

I would love to hear your feedback! Please let me know what other features you would love to see in this app, or if you have any suggestions or recommendations. Thank you!

Hi all, I am a new investor and haven't closed any deals yet. I have something that came up, and I am trying to see if I can make it work, but need some help.

So I have this property, which is in a pretty hot area for rental. College is just a few blocks away, and it's a 4 bedroom single family. My estimate for property is ~165k ARV. Asking price is 135k obo.

• The owner of the house has a seller-finance in place, still owes 135k for property.
• The owner also has 15k in back taxes on property
• The owner has a personal loan of 5k for windows, which he wants us to take care of, if possible
• House needs some touch up work and a new roof within a year, cost ~10k
• Owner said he will consider a short sale

So I want to minimize the amount of cash I put out for this property. First of all, is it even possible to do a short sale + seller finance with the same person who did mortgage for the owner? I don't see why not. I assume that I will have to pay 15k in back taxes immediately, regardless of anything + 3-4k for closing. So even if I strike the agreement with the seller-mortgage person, I am still in for ~20k of cash, at minimum? 

Any suggestions about this deal? Thank you!