As a real estate investor, your long-term primary goal is to grow your business. To reach the goal, you have to:
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Close more deals
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Flip more properties
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Own more homes
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Hit other goals you’ve set
Wouldn’t it be great if you didn’t have to work so hard to achieve those goals? At least if your goal is accumulating cash-flowing rental properties.
There is a company dedicated to offering you an easier way to a more passive form of real estate investing compared to the traditional process of searching for an agent, viewing homes after homes and a never-ending search for motivated buyers and sellers.
Launched in late 2015, Roofstack sealed their first transaction in March 2016. The company claims that it’s one of the primary single-family rental companies in all of the United States. They are “focused on markets where there is a healthy supply and demand for single-family rental homes.”
Real Estate Investing Done for You
Roofstock is a turnkey rental property marketplace specifically created for investing in single-family rental homes. It’s created by investors for investors.
For properties to be listed on Roofstock’s marketplace, the core requirement is that the property has to have tenants living in it and they have to meet the strict screening guidelines of Roofstock.
Roofstock makes it possible for busy professionals to have high-yielding, successful rental properties while eliminating the commitment or the extra effort to work for it.
The company does not own the properties found in their marketplace. This makes them different from other places where you can find turnkey properties. Instead, Roofstock focuses on evaluating, negotiating and closing property transactions.
As of this writing, there are more than 100 properties available on Roofstock’s marketplace, 20 more are waiting to be listing and 75 homes have a sale pending. Property owners range from retail sellers to midsize and large institutions. About 40% of their listed properties are closed deals or pending deals.
As of now, Roofstock operates in 15 markets, and they are expanding quickly:
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Atlanta
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Greater Tampa
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Dallas
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Houston
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Indianapolis
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Jacksonville
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Las Vegas
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Los Angeles
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Memphis
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Miami
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North Carolina
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Orlando
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Riverside-San Bernardino, California
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San Francisco – East Bay
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Southwest Florida
For every market, Roofstock gives you the information about the neighborhood, core fundamentals to remember when investing in turnkey properties, as well as key local or national statistics.
The company is hands-on in ensuring you get the most out of your investment. Roofstock provides you with the latest research, analytics and insights to smartly evaluate and eventually purchase independently certified properties at fixed prices.
To certify the property, it must have:
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A 3D virtual tour of the property;
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a property floor plan;
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photos of the property;
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an experienced investment property inspection firm perform a walkthrough inspection of the property;
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a review and summary of the lease terms;
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a review and summary of the tenant selection process;
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the estimated cost of any major or minor repairs that are deemed necessary in the short and near terms;
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a title report without any uninsurable encumbrances or liens as well as the preliminary title commitments when applicable; and
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a valuation analysis of the property and its market conditions in the local rental market.
Can Roofstock Grow Your Business?
Real estate investors are given the opportunity to grow their business either by buying properties and having someone else manage them, or by becoming a certified property manager with Roofstock. Once you are a certified property manager, you can sell your properties to other investors and manage it for them. Sellers can close transactions with buyers all over the country.
And, of course, Roofstock, lets people invest in buying properties from anywhere:
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All properties are Roofstock certified. Each property listed on Roofstock underwent a strict and rigorous certification which includes inspection, due diligence and valuation, and is strengthened by a 30-day guarantee.
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Explore investment opportunities. By creating an account, you can use Roofstock’s intuitive application and search for properties in different areas.
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Select investments that are right for you. The company has a tool to filter and match properties that fall within your investment goals. After creating an account, you can start by browsing and learning about markets to choose the ideal location for your investment.
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Invest effortlessly. With Roofstock, investing is a breeze. You can look for the right loan, review settlement statements, sign documents and wire funds.
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Be in total control of your investment. With the Roofstock dashboard, you can keep track of all of the transactions and investments. You can also monitor the performance of your business and identify new opportunities anytime, anywhere.
We’re Listening
Tell us about your experience with Roofstock in the comments section below.
Use Other People’s Money – If your real estate investments are only limited to your own funds, you will quickly run out of money to expand. Using other people’s money means you are only limited by your ability to negotiate.
Consider More Passive Investments – Most people become real estate investors to earn more ‘passive income.’ Then they find out the reality of how much work it is. If you can leverage someone else, then you can free up a lot of your time to expand your business and/or enjoy life more.
Consider Managing Instead of Buying – Managing properties for other people can be another real estate path to wealth, without the worries of ownership. If nothing else, it may be a way to start your real estate career without risk.
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.