All Forum Posts by: Shan K.

I have created a ppt with initial spec and proposal to crowdfund. Let me know what you think

https://docs.google.com/presentation/d/1tKrxGk7EvA...

Hi Guys,

Thanks for expressing interest in developing a tool that will automate the deal analysis process. Here is updated somewhat refined wish list.

1. Start with Zestimate , redfin estimate. For members with MLS access do accurate MLS CMA analysis

Source:Zillow/IDX( Broker Reciprocity)

2. Estimate the rent

    Source: zrentestimate/rentometer 

3. School ratings 

      Source: greatschools.org

4. Demography , Determine Neighborhood rating A,B or C 

    a) Crime

    b) Median income

5. Estimate Expenses

    a) Estimate property tax data

    b) Estimate Insurance cost

7. CAP rate using 50% rule

8. Estimate COC

Additionally thinking about a google chrome plugin which will automatically hot-link the property address on any webpage. When link is clicked it will take you to the page with above analysis. 

@Tony 

@Tony Rumans , @Matt Murphy, @Sam Yi and others I need help , support to make this happen.  

@Austin Hughes I plan to write blog for the users who would like to use open source free CRM. Commercial CRM may not affordable for everyone. 

Yes! you need to get an EIN number for LLC . You can't open a bank account or business credit card without EIN. Getting EIN is very easy .Just google it. It's always a good practice to keep business and personal transactions separate . Consistency and discipline in bookkeeping helps , in case you get audited for any reason by IRS. Cheers Shan

Ryan C. Welcome to BP community. Love see you in one of the San Diego mixers.

I am looking to buy in Orlando area as well. I have similar criteria as @Payal Z. . How  is the property tax  rate in FL in general.

Has any one invested through Real Estate Crowd funding platforms. So may sites have popped up during last few years, is 12-15% returns real?

@Branden what kind of features you are looking in this software? Checkout https://freedcamp.com/ its mostly free.

@Robert You accurately identified the issue with such tool. To solve the problem every realtor should be able to pull the data for the MLS using their own user account. There are many apps and websites and apps that import data from MLS. So the problem is solved for people with MLS access.

For all other users the data can be pulled from  Zillow, Trulia which have API. Another way is to write a HTML parsing script to extract the data from Realtor.com which has the comprehensive listings. 

I want to build following tools

1. app which allows user to capture any address  using camera does a OCR and pull all the data related to that property

2. A browser plug in that automatically highlights all the valid address on a HTML page and gives context menu to click and takes to a page that brings in all the data about that property.

I want to develop an interest list of potential users who want to use such a product. I would also to invite user to give their wish list of features so that I can come with list of features and develop a project plan and schedule. 

 This could be crowdsourced not for profit project. I seriously looking for an affordable tool that can cut down my deal analysis time.

Cheers

Shan

I am looking to close a big deal on a multifamily rental unit. instead of going solo and expensive investor financing I have a network of friends with cash. All if them will joining the deal as partners. To keep it simple everyone will investing equal amount of money. 

Has anyone done a partnership like that ? What type of legal entity will give maximum tax benefit. LLC or LLP?