Investor · bronx, NY · Member since 2008 · 265 posts · 42 votes
Seek a software too that will help me identify hot areas in any state I should be buying 2-4 properties.
Considering Mashvisor last night, told me that it does not list lots of multifamily properties it is mostly for single family properties. My objective is to identify great potential 2-4 multifamily properties, what questions would you ask Mashvisor if they tell that they do not list lots of 2-4 MF deals, how does affect their tool in finding and analyzing deals through out state of CT, and how can you verify that their data is correct when analyzing multifamily properties
Investor · Member since 2021 · 591 posts · 695 votes
3y
@Edwin De leon I've never used Mashvisor....however, a 2 to 4 unit MF is relatively small in the grand scheme of things--you can analyze that type of property without any type of specialized software.
There's a LOT to real estate that data and software cannot convey (Zillow discovered this the hard way). For instance, nearly all my properties have traits that were critical to their financial viability as rentals, but which would have never been conveyed in numbers or via software...because of that, I prefer to collect my own data, do my own analyses, see the properties with my own eyes, and do my own due diligence--and I don't need any fancy software to do that (at least, nothing fancier than Excel).
@Edwin De leon I've never used Mashvisor....however, a 2 to 4 unit MF is relatively small in the grand scheme of things--you can analyze that type of property without any type of specialized software.
There's a LOT to real estate that data and software cannot convey (Zillow discovered this the hard way). For instance, nearly all my properties have traits that were critical to their financial viability as rentals, but which would have never been conveyed in numbers or via software...because of that, I prefer to collect my own data, do my own analyses, see the properties with my own eyes, and do my own due diligence--and I don't need any fancy software to do that (at least, nothing fancier than Excel).
Just my two cents.
Good luck out there!
Thank you, you now have awakened me big time, my question is what are the steps that i need to take research areas I wish to invest in CT manually, and what kind of data should i collect manually to help me conduct my own analysis which software will never allow me to do completely ... Leo... I have decided i want to start researching areas I wish to invest in CT manually instead of using software as you mentioned if i do not do this and rely on software I do myself a disservice since I won't know how to analyze a property manually without any software, if i use software it should be for some specific need to complimemt what I am doing, Any feedback, suugestions you share I would appreciate very much thank you sending you a connection request
and then study up on the many, many resources about how to analyze properties. There are plenty of bigger pockets forum posts, articles, podcasts, youtube videos, blog posts, etc. about this topic--and I'm sure you can find even more if you google things like "how to analyze a rental property".