We’ve all heard “show me the Carfax,” the phrase that has become many out-of-town car buyers’ go-to security blanket for smart purchases.
Well for today’s tech tip, we’re going to introduce and review Rentfax, a similar concept that is now available to investors. It’s really something cool you guys should consider…
So What’s the Lowdown on RentFax?
The purpose of RentFax is to bridge the gap between data and decisions. With simple inputs, industry leading data and analytics, it provides unbiased feedback to guide your residential real estate investment options.
RentFax aggregates and analyzes data from leading industry resources and provides you with easy to read, applicable reports. Each report addresses critical decision points including risk, rent and income.
How Does RentFax Work?
It’s incredibly simple…
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Enter the address and basic information of your property of interest.
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Thousands of real time data points are applied to historical trends and analytical modeling.
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Custom reports transform data and analytics into easy to read reports to help guide your decisions.
What are the Advantages of RentFax?
There are so many advantages to having RentFax, but here are some key points:
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RentFax can provide investors a snapshot of local and nonlocal markets. In fact, you can research nationwide. This is a dynamic tool for virtual investors.
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RentFax produces a clear snapshot of relative neighborhood risk based on census tract info when comparing different properties. The Risk index score provides valuable predictive information for property income outcomes. (See first image above.)
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Summary and detailed reports are available for every investor’s customized needs.
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RentFax includes an interactive heat-map option for quick comparison of risk for properties at a neighborhood level, plus the ability to run property reports directly from the map.
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Data is hyper-local. Comps are presented with a Google Maps Street View comparison within the report.
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RentFax utilizes an appraisal approach showing adjustments for bathrooms and square footage within the calculations considered from the comps.
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Easy to interpret mapping and shading of zip codes reflects the comps used for market rent projections.
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Roll up of risk, rent, and other variables to show most probable rental income for a property.
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Smart and intuitive analysis that considers the relationship between variables and weighs them accordingly.
See for yourself, check out their great video:
How Much Will RentFax Cost Me?
RentFax research tool reports are run based on a credit system. The tables below present the cost of credits and the number of credits needed to run each report respectively. Credits are very easy to purchase and it takes just minutes to sign up for the first time, purchase credits and start running your first report.
Sign up for RentFax and try it out for free.
Type in the property address.
Customize your needs.
Access the reports.
Absorb what the RentFax results tell you to help you make a decision on whether to invest in the property or not.
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.