[Tools] Any website/tool that can automatically find me deals?

Question

Hi BP family!

My current way of identifying property is the following:

1) Receive a notification from Redfin (for the houses that match my criteria) with a new house or a price change.

2) Go to AirDNA to analyze (Short term)

3) Do some LTR analysis using Zillow

Then.. if the numbers look good, I work with my realtor on comps and make an offer.

Are there any tools that can automatically do the steps from 1-3?

Kyle Momany · Answer

I'll piggy back on some of the other things mentioned.As an investor/agent , I would recommend getting setup on a search with an agent who is actively searching for deals, as well as owns in the area. Many cities have regulations on where STR is aloud, and isn't. You don't want to be wasting your time on redfin, searching a general city, that might not even allow STR in an area you're looking at.Also, most investor/agents have access to rental data & projections. Not just what Airdna or another estimator is telling you. Most people don't have time to analyze every deal in a market. Leverage agents to find actual rental data, and with help finding/analyzing deals. I tend to go through the hot sheets every morning and do a baseline analysis of new STR approved properties - which generally includes finding out if the rental projections/data is 15% or more of the purchase price. At that point, you can dig further into the analysis.I hope this helps, feel free to reach out with any questions!

Brian Barch · Answer

Yes! Checkout awning.com.

they identify deals, and are licensed agents and can actually make an offer for you.

Keetaek Hong · Answer

@Lauren Kormylo @Leslie Anne Morris @Eliott Elias - I have a wonderful agent in the city I am investing in (who helped me to secure the first property). However, I wouldn't expect my agent to underwrite proforma for every new property and price change. I was hoping to automate the first leg work.

Sara Levy-Lambert · Answer

Awning.com is the simplest way to do this. Set up a call with one of their agents and give them your criteria. They'll put machine learning and human review to work for you and send you deals whenever they come on the market. SSimple and effective

Keetaek Hong · Answer

@Bruce Woodruff - ah I totally agree with you that it needs more in-depth research than AirDNA. But it definitely helps weed out obvious under-performers from your search. I am looking for that first level of the filter.

Eliott Elias · Answer

Your realtor can set you up with a search of everything within your criteria

Lauren Kormylo · Answer

Why are you using Redfin instead of your real estate agent’s portal?  Your agent should be getting advance notice of properties “coming soon” to the market, so you can get a head start on analyzing them.

Bob S. · Answer

Tools, never once used a " tool" I speak with wholesalers, title co's attorney etc . I have done about 500 in my market never once doing a mailing or using a tool. Just go to your local RE group,,,,,,

MAKE SURE you have cash ready to buy. If your using a loan, IMO you will not get a great deal.

All the best

Keetaek Hong · Answer

@Priya Srinivasan - Any good sources in hiring VA with such qualifications?? How are you leveraging yours?

Keetaek Hong · Answer

@Chris Seveney I totally agree with relying on redfin/opendoor for strictly comps is a dangerous game. I am more interested in MLS listing <> AirDNA (or any other rent data). It's more about connecting two data sources to narrow down my search.

@Brian Barch Thanks for the info! Just checked it out. It seems a bit sparse at the moment. I may reach out to them to get more deets from them

[Tools] Any website/tool that can automatically find me deals?

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