Buying first rental property with roofstock. What's the catch?

2 Replies

I was wondering if there's a catch to using the roofstock platform for buying investment properties? Is it safe to buy any property on that site? If not, what are some criteria to look out for? What are some potential downfalls to using roofstock? 

I've looked around for other opinions on this subject, and most of the advice boils down to "It depends". I'm a new investor so my criteria is still under works, and I would like to hear more specifics on how people use roofstock to find deals or property worth investing in. So far, it looks like every property on roofstock that is over 7% cap rate seems like a good deal, but that may be a naive way of looking at it. 

Would love to hear other peoples' ideas and comments related to this subject. Thanks in advance! 

The catch is you're on your own once you get going. Here are a couple of good threads on the topic:

https://www.biggerpockets.com/forums/92/topics/670569-roofstock-review-newbies-beware

https://www.biggerpockets.com/forums/12/topics/754663-how-do-you-analyze-a-roofstock-property-purchase

I would look at other turnkey options as well. There are many. Marco Santarelli of Norada is pretty active on BiggerPockets and has a good reputation.