is Roofstock or HomeUnion legit?

Question

Has anyone used Rookstock or HomeUnion to purchase property? whats everyone experience.?

Jason Pabon · Answer

@Anthony Liguori - I bought two homes myself through Roofstock and there are plenty of investor reviews here on BP. Feel free to browse the site and let me know if you have questions.

Ali Boone · Answer

I haven't used them personally, but I've worked with a lot of people who've worked with them and I'm knee-deep in turnkey world so have been around them plenty. I can't speak for HomeUnion as much, but I know I'm not a fan of Roofstock, for several reasons. But I am a fan of turnkeys from actual turnkey providers. Is turnkey what you're interested in with those companies, or a) what are you looking for and b) do you have specific questions about those companies or the models?

Paul Shannon · Answer

I can't speak for Home Union.  I've looked around on Roofstock from time to time, but haven't been wowed by any deals.  I know a few investors in my home town who have sold properties on Roofstock.....I know they made a very nice profit.  Not so sure about the buyer.  I'd be very selective and do your due diligence.

Collin Placke · Answer

Just like any turn-key investment, be weary of their pro-forma (projected returns). Run your own numbers, don't blindly trust theirs.

Can I ask a deeper question... is something drawing you to invest via one of these platforms? Is it because it seems more passive and turnkey? Or are you just curious of other people's experience with them?

Jason Pabon · Answer

@Kevin Edwards no issue with rent collection. Since the gov. is playing a direct role, residents are using this towards housing costs. I plan on buying my third rental later this year.

In times like these, quality generally pays off (good school districts, neighborhood quality, etc). Don't always focus on the highest yield or the biggest discount.

Kevin Edwards · Answer

@Jason Pabon with the current state of the economy due to the virus have you had any problems with rent payments?, and have you expanded your portfolio via Roofstock?

Jeff Schechter · Answer

@Anthony Liguori  The places you mentioned are merely marketplaces (with some tools to help due diligence) where buyers and sellers of properties can connect.  There are turnkey properties on those platforms, but there are fees involved.  Depending on the market and price point, there can be some deals there.

We're a TK provider in Indy, and find that it's often times not worth it for us to list our properties on these kinds of platforms, because of said fees...it's either not a good deal for us, or the buyer, or both.

Ali Boone · Answer

I do. And they are actually in-house turnkey companies... Roofstock and HomeUnion source the properties from outside sellers. That's the first of many problems, in my opinion. Message me anytime. MFRs are available in a couple markets, 2-4 units, but definitely SFRs are more common.

Anthony Liguori · Answer

Yes, I am looking for out of state turnkey investments..Specifically multi family but have been gaining some slight interest in possible single family rentals. But anything that can bring me some good passive income.. you know any other turnkey companies that you or others have had success?

Anthony Liguori · Answer

I am interested in turnkey investment, especially out of state.  So with that I just would lie to know what worked for others and if this platform provides the service that it claims it does..

is Roofstock or HomeUnion legit?

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