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15 March 2024 | 3 replies
While there's no shortage of options out there,as you mentioned, such as PropStream, DealCheck, REI Simpli, and Podio, the aim is to stand out by honing in on what really matters to investors: ROI, value, performance, efficiency, and possibly price.Expanding on what matters as outlined earlier, here are my assumptions regarding what investors might require if I were to launch a product today:User-Friendly Experience: A platform that feels like second nature to real estate investors, with intuitive design and features that make life easier.All-in-One Solutions: A toolbox stacked with everything necessary for successful investing—from finding leads to analyzing deals and managing properties.Seamless Integration: Make workflow smoother by seamlessly connecting with other essential tools and platforms you rely on.Insightful Analytics: Next-level decision-making with advanced analytics and data visualization that help you optimize investment strategies.Now, the challenge lies in the fact that every investor is unique, and the features might be excessive if they don't offer genuine value.
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16 March 2024 | 5 replies
@Greg Heden you will typically not get a very good return on the improvements unless you bought distressed property that needs improvements to be livable.
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16 March 2024 | 21 replies
So to answer your question, insurance companies will typically send out a third party inspector to determine cause of damages to see which party is culpable.
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16 March 2024 | 9 replies
It's good to use a management company as the will typically have a proven process for raising rents.
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15 March 2024 | 17 replies
Essentially, I'm trying to figure out "how to do the work" of the REI game.
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15 March 2024 | 1 reply
They have consistently failed to communicate essential information to the sellers and their attorneys.
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16 March 2024 | 36 replies
@Amirra Besh If you call any agent, they will typically charge 1 month of rent to find a tenant.Just like in a sales transaction, where the buyer's agent and listing agent split the commission, an agent will offer another agent that brings a tenant 50% of the one-month of rent as commission.Many owners are trying to put pressure on PMCs to lower this fee because they think the monthly management fee should cover at least part, if not all, of this.Here's were penny-pinching owners screw themselves: PMC's will charge lower than the one-month of rent, but they offset it and do NOT tell the owner the negative repercussions!
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15 March 2024 | 8 replies
That is essentially two full rooms.
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15 March 2024 | 8 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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15 March 2024 | 7 replies
This is an essential habit of successful landlords.