Investor · Kingston, Jamaica · Member since 2015 · 11 posts · 3 votes
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?
Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
10y
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!
Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
10y
I've not heard of them before, it's just a listing service for individual agents so that means there's probably some good ones and some scams. I did a little googling and the site seems to be "trusted", there was one site that had a review from a customer saying they paid a deposit on a property then never heard from their agent again. They got a mention in this article which I would hope lends some legitimacy http://www.telegraph.co.uk/finance/property/intern...
@Account Closed works in international sales, have you heard of this listing service?
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
10y
I think you would be better off finding someone on here to "partner" up with. As always do your due diligence. This is a great community but you are after all talking to strangers on the internet.
Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
10y
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!
Investor · Kingston, Jamaica · Member since 2015 · 11 posts · 3 votes
10y
Thank you so much for your advice @Micki M.. I have not heard of Sotirios Bogris but thanks for the contacts Micki and Ryan. Mitch, I really appreciate the detailed response. I will certainly begin to build my "power-team".
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?
Julia
How are you? I went to there site. I went through the USA Properties. Looks like a good site, and decent company.
As far as sourcing properties. Just words of advice ,take a trip ,and check places out yourself. I used to invite international investors who were coming to USA. I would always recommend visiting at least two, preferably three markets. To really get an indea of what they want to invest in.
Just my two cents
Jamacai what an awesome place to visit. My wife and I have been to Negril a few times.