Is Propertyshowrooms.com good for sourcing investment properties?

[Julia Wong]

Has anyone ever used Propertyshowrooms.com to find properties? I receive emails from them and I see some very interesting properties worldwide (especially in the US and UK) which seem to be lucrative investments but I am not sure if/how to proceed. I have researched the site and they seem to have a high trust rating. Can someone tell me more about this site and if you would recommend sourcing properties on this site?

[Mitch Messer]

Hi @Julia Wong! I just took a look at Propertyshowrooms.com. Attractive website. Plenty of engaging content. Pretty pictures.

Are they a legitimate real estate portal? Sure seems that way!

Would I source deals from them? Highly unlikely...

Here's why.

Once you've decided where you want to invest, I believe your very next step is to identity resources that are local and active in that market. That's the only way you'll be able to distinguish a great deal from a turkey. You'll need to talk to agents and wholesalers and landlords to get a complete picture of the local landscape.

There's a reason why so many of the US "deals" on this site are condos in Florida and houses near Detroit: That's where the cheap inventory is. Assuming the pictures are accurate, we can all see that these homes are pretty. The real question is whether any of them are in hellhole neighborhoods where no tenant would ever want to live. Or if the rehab work is shoddy. Or if there's a smelly factory down the street. Or if the water supply is tainted... There's no easy way to capture that stuff on a series of tiny photos on a web page. That's what local expertise delivers.

I don't believe you need a property showroom to source investment properties. Build yourself a local power-team instead!