Roofstock is one of the emerging single-family rental companies in the US. They serve over 40 markets including Las Vegas, Atlanta, and Dallas. They provide the customers with insights, analytics, and research so that they can evaluate the property to make the right purchasing decision. The Roofstock certifies the properties based on some quality factors which help the buyers to figure out the right investment. Read the Roofstock review below that you need to know.
Unlike the traditional real estate agencies, Roofstock does not own the properties that are listed on their marketplace. It’s a turnkey rental property online marketplace that will generate the cash flow as quickly as possible. In this article, we’ll explore the review and It’s the best features of the Roofstock marketplace. Let’s jump in without any delay!
Best Features of Roofstock
The first thing we like in Roofstock is there is no membership fee. You can register on the Roofstock website for free and check out all the properties.
Coming to the fees, The traditional real estate agencies charge anywhere over 6% for the business. Roofstock charges you a much lower fee, in fact, it’s half of the average fee that’s been charged by the mainstream real estate agencies. It charges 2.5% as a marketing fee. The buyers pay half a point as commissions. So, the fees are very low when compared to the other realtors in the market.
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Incredible Deal Flow
Roofstock handles at least 500 home transactions every month. That’s quite a good number. Though each property has to go through a stringent review process for the certification, Roofstock still manages to list a great number of properties in its online search database. The search functions allow you to filter the properties based on your desired criteria. All the properties are shown to the members with documents, property details, photos, 3D tours, etc to make sure that buyer knows what he is investing in.
Trust is a crucial aspect especially if you are buying something without seeing it. Roofstock understands the importance of trust, thus they certify the properties to provide complete information to the customers.
Roofstock certification helps the customers to make a confident purchase. All sorts of information are provided before the purchasing decision. Roofstock considers a bunch of quality factors to certify the properties. Roofstock provides a report with analytics, research, and analytics to help the customers to evaluate the properties as per their prices. It is this efficient reviewing process that has brought a large number of loyal customers to Roofstock in a short time. Here are the factors considered by Roofstock to certify the properties.
- A cost estimate of all the minor and major repairs that must be done in the short term.
- A 3D virtual tour of the whole property.
- A walkthrough inspection report was given by a recognized investment property inspection firm.
- An analysis of the valuation of the property in the local renal market under the current market conditions.
- Property floor plan
- Summary and review of the tenant selection process
- Property photos
- A title report with no liens, uninsurable encumbrances, and title commitments.
- Summary and review of lease terms.
Immediate Cash Flow
One of the unique features of Roofstock that makes them stand apart from other realtors is their guaranteed rent within the first 45 days once. The home you buy from Roofstock will already have tenants occupied in it. So, the buyer will be making money as soon as he has purchased the house from Roofstock.
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Roofstock is doing a pretty good job with customer service. They provide a 30-day satisfaction guarantee to the customers under Roofstock Realty Sale Agreement and LLC purchase. It shows the confidence they have in the service they are offering. The buyer can write to Roofstock within 30 days if he/she is not satisfied with the property. Roofstock lists the property again for free. The best part is they themselves will buy the property if no one buys it in 90 days.
Overall, Roofstock is an excellent platform for new real estate investors. Roofstock screens all the listed properties and appraises them. They certify them so that even the new real estate investors get a clear picture of what they are investing in. The best part is they charge low fees and you can open an account on Roofstock without being an accredited investor. Features like guaranteed rent in the first 45 days are the deal-breaker. The closing is also facilitated by Roofstock and they do it really fast. We hope our article has given you enough information to find out how Roofstock works!