All Forum Posts by: Tommaso Montagni

Hi Jennifer Fernéz, I experienced the same type of problem and started a company to solve it. (full disclosure this is my company, but I thought to mention it since it literally is the answer to your question - and it's completely free for investors).

Essentially what we do is every morning we analyze every listing on the MLS and for every listing we estimate After Repair Value, Rent Potential and repair costs. Then we display all this including comp sales and comp rental on our online platform. Investors then can search for properties that match their investment criteria.

We'll be launching the full product in a couple of weeks (mid-Oct 2019), starting with Texas. If you'd like to learn more direct message. Happy to help.

All the best,

Tommaso

Hi Patrick Brodeur, through my company I have accumulated quite a few connections to hard money lenders with competitive rates. If you would like me to connect you with one that will fund you and your deal/s direct message me. Happy to help. 

All the best, 

Tommaso

Hi @Lydia T. Thanks for your reply and here are answers to your questions:

1. How does your software know if the property needs new plumbing, a new roof, electrical updating or HVAC replacement? It seems that if your software is using the photos in the listing to analyze/estimate repair costs then there is going to be a significant margin of error. Especially since MLS photos tend to be of the best looking parts of the home and not the worst. 

ANSWER: We do break down expenses needed for the home, and yes, there will absolutely be a margin of error. But, the goal of this software is not to replace an inspector, contractor or appraiser, rather to facilitate and streamline the process of finding and purchasing distressed properties.

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2. Does your tool also analyze the comps, take into consideration the repair cost of the subject property and then tell the user what price they should purchase the property at in order for it to be a viable deal?

ANSWER: Our tech does consider comps and displays them. Though we don't recommend a specific purchase price, the software does tell you at what price you should buy the home if you wanted say 70% of ARV.

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I have tried similar programs to the one you are describing and have never really been impressed. There are some aspects of real estate investing that cant be replaced by technology. Just my opinion.

RESPONSE: Absolutely there are some aspects of real estate investing that cannot be replaced completely by technology. With that being said, the goal of our software is not to replace but to facilitate, by speeding up the process of finding investments, as well as increase confidence in making those investments.

Does this help clarify?

All the best, Tommaso

If you are looking for distressed properties on the MLS you can find a list (updated daily) on rubikanalytics.com. - (Disclaimer: I started Rubik - but it is completely free for real estate investors.)

Essentially what we do is every morning we analyze every listing on the MLS and for every listing we estimate After Repair Value, Rent Potential and Repair Costs. Then we display all this including comp sales and comp rental on our online platform. Investors then can search for properties that match their investment criteria, and if they find a property they can directly place an offer with contingency of inspection. We also enable investors to track all their offers in a centralized place while we do the heavy lifting of making sure they hear back within 24-48 hours.

Hope this helps. Tommaso

Hi, I'm quite new to RE investing and need help to pay the downpayment for an income property I'm interested in purchasing. I recently came across a company that provides the downpayment for your rental home investment in exchange for partial ownership and a share of the rental income. Has anyone done this before and do you think it is a good idea? - Thanks