Multifamily Acquisition and Management Software - Hubspot?
Hi - I'm wondering if anyone has a suggestion for what software to use for my current situation. I recently partnered with a real estate investment company in Milwaukee, WI. They do rentals and property management. I'm looking to organize the business and build a solid foundation so we can eventually start syndicating deals. We currently own 14 units but are looking to purchase a few 8-32 unit buildings in the next year or two. I'm very familiar with Hubspot as I'm currently building out a custom system for an investment company in Madison, WI. I love the customizability of Hubspot as well as its interface and integration potential. The downside is it costs around $600-$900/month and I know it will likely take me 3-4 months working 20 hours/week to build out the fully integrated system I envision. I know it will 100% serve the purposes we need, but at the same time don't necessarily know if it is worth it to "re-invent the wheel".
We plan to do the following all within one software:
- Analyze and manage new potential acquisitions
- Asset Management
- Property Management
- Rent collection
- Manage Maintenance Requests
- Syndications
- Store all contacts (agents, bankers, investors, etc.)
What software (other than one I would customize, like Hubspot), are out there that accomplishes everything we need in one fully integrated system? If there is software out there, would it be dumb of me to "re-invent the wheel" and create my own customized system within Hubspot? Curious to know people's thoughts on this.
I'm not as familiar with Hubspot as I am with Salesforce, but for Salesforce there are tons of consultants out there that will build customized systems for you pretty quickly. I'm assuming the same exists for Hubspot (and it's probably cheaper). It will still cost more than doing it yourself but if you factor in the cost of your time and the cost savings from using the system to accelerate your business, it could be worth it. You can find these folks all over the place but the cheapest place is probably UpWork
I'm a software engineer, used to work for HubSpot on their CMS. I work for myself now, through real estate investing and contracting work. I've been noodling on building something similar to what you're describing for myself, and selling as a product geared towards REI's.
While getting it to "beta" would likely take a few months, I'd be happy to chat with you more about it. Would love to see how you're using HS, and what you'd like to see from an all-in-one REI tool.
Feel free to dm me.
My honest advice is to forget about all of that. Focus on finding deals and raising capital. All of the systems and processes come as you grow the business. That being said, there a few tools you can start using to build the framework. But I would not waste time building out a custom interface for a business that hasn't been built yet. Here is what I currently use:
CRM (to store contacts, segment lists, send email blasts) - Hubspot
Investor Portal - Appfolio IM
Property Management - Appfolio PM
Asset Management - Appfolio PM/Spreadsheet Trackers
Underwriting deals - built my own model..best way to analyze syndicated deals is in a spreadsheet