BiggerPockets

Hi All,

One of my biggest issues when searching for a property has always been finding the property information for quick analysis just to see if a property is worth looking any further into. This started to get me thinking about a void that is in the real estate listing services. The websites are not made for investors.

So I am in the process of having a website built professionally for me. It will be a spin-off and kinda a hybrid of FSBO websites mixed with the idea of loopnet. It will have user submitted properties with mandatory information for investors to look at property for a quick analysis. the website will have many affiliates and advertising on it as well with quite a bit of SEO traffic.

I have a lot of things as far as property specifics that will be on there, but is there anything that you guys always say "wow i wish this was on here"?? I am an investor myself and im looking to cater to other investors, so I would like to know what you guys with think as useful information?

thank you in advance and I appreciate any advice :D

The website will allow users to submit their own listings, whether it is an investor looking to sell his/her flips or wholesale deals, or maybe a homeowner looking to get some more exposure for their property.The main idea is that the ones that are searching through all the property listings are investors. A one stop shop for looking at properties and getting as much information from one spot as possible. Of course the investor is going to need to do more research and due diligence, but hopefully this simplifies a lot of it. I know that investors are very busy and even if they have an agent looking for them it is still very time consuming looking for properties.

Take craigslist for example. If an investor was rummaging through CL for properties for sale it would take all day just to find a little bit of information on this property, if its even a real property!

Also think of the instance of if you do have an agent searching for properties for you. Right now and for many years to come, the investor is dealing with short sales and foreclosures. I know from experience how long it takes to get one of these properties. With a website buying directly from the owners themselves, you are saving time and ultimately money.

I've considered doing this exact same thing, but once you delve into the issues of sellers not being honest about their properties (and the numbers) and people using the site to market properties that they don't have an equitable interest in (to build a buyers list), you start to realize that the potential legal implications and management overhead far outweighs the value proposition.

At least that's what I determined... :D

Gentlemen,
I sit in the position of both buyer and seller. When you are an owner and provide in house financing, it is hard not to believe buyer rhymes with....One time sellers trying to unload property due to a compromise of some sort be it flood prone,"bad" neighbors, or environmental concern are truly dishonest, however, most people and their stories are legit. Professional land sellers on the other hand tend to be honest, a bad reputation is impossible to overcome. Once in a while we buy a property that disappoints, but I would never present it to a buyer as Boardwalk. A customer is golden, a source of referrals, repeat business etc.