All Forum Posts by: Cameron K.

Another user noted in a PM, some of the exposure numbers are incorrect in the case that a borrower has blanket loans (many of these upper tier borrowers do). Blanket notes are not de-duplicated currently when they are recorded against multiple parcels.

Blanket notes are detected, but aggregating them is currently a challenge that has not been solved to our satisfaction.

Landlords sorted by unit count in Philadelphia as of January 20th, 2025.

Note: It doesn't reflect pure ownership, especially for corporate landlords. Name detection is via loan signatures.

Hi everyone,

Last week, I was pulling rent comps to prepare renewal offers using my typical process: starting on Ręntometēr or Rēntcast for a rough idea of recently removed comps, then manually researching on platforms like Zillow, Apartments.com, and Facebook Marketplace. One thing I’ve always done is focus on the 75th percentile of the rent estimates, as my properties tend to fall into that range (very nice, but small with no amenities).

While I think there will always be some manual research involved, the current platforms lack key functionality that could be easily implemented with the available market data and technology.

1. Quality Metrics:

• Filter comps to match the quality of your rentals. For example, avoid wasting time comparing new construction with sun-soaked windows to basement units with stained drop ceilings. Looks matter.

• Our company has proprietary AI models designed to accurately assess listing quality through images, which would power this feature.

2. Smart Weighting:

• Automatically weigh comps based on their reliability.

• For example, a listing with three price drops and 180 days on the market would be weighted less than one with 30 contacts, no price drops, and a quick removal after 30 days.

3. Open Data:

• Provide direct access to each comp’s details: price history, leasing schedules, photos, and even links to the original listing sites—all without leaving the platform.

These three issues have been my biggest frustrations with current tools, and I’m building this out for internal use in my market.

My questions to you:

• Is this something you would want to see in your market?

• What challenges have you faced with existing platforms?

• Are there features you’d want to add or problems this doesn’t solve?

Does my experience resonate with yours? I’d love to hear your thoughts!

Quote from @Chris Seveney:

Quote from @Cameron K.:

Top 25 "hard money" lenders (Philadelphia loans only) by volume.

1. I FUND CITIES

2. KIAVI

3. ROC360

4. CONSTRUCTIVE CAPITAL

5. DIRECT MORTGAGE LOAN COMPANY

6. ASSET BASED LENDING

Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.

 Curious where you pulled the information from?

 I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.

I will be posting more detailed insights soon.

Completely agree with you on this; I'm not making any claims to the quality of these lenders here. Borrowers should always shop around, especially in the hard money space where it is so easy to quickly get preliminary terms over the phone.

Top 25 "hard money" lenders (Philadelphia loans only) by volume.

1. I FUND CITIES

2. KIAVI

3. ROC360

4. CONSTRUCTIVE CAPITAL

5. DIRECT MORTGAGE LOAN COMPANY

6. ASSET BASED LENDING

Note: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank.

Time, etc., has been good for me, its hit or miss across all of the VA services through. It just depends who you get assigned, the providers know who their best VAs are so if you press them hard enough early they will give you their top performers.

The direct appeal is to lenders (primarily commercial lenders closing in the $5M-$100M territory). At a high level, the system ingests raw documents from the recorder's offices, building permits, zoning permits, market data, and other auxiliary datasets. This information is then linked in the database—think of techniques like pulling signatures from mortgage documents and extracting unit counts/construction types from building permits.

This allows you to search my name and instantly see all of the rental properties and construction projects I own, even though they are well covered by holding companies. You can also see total loan exposure, every loan ever pulled, every property ever owed, every co-signing partner from every project, permits, etc... It's been illuminating to see who the valid owner of each property is; there's a landlord leaderboard on the site.

The direct value proposition allows lenders to track a list of clients or companies in real time. For example, if I purchase a site entitled to 100 dwelling units under a newly formed holding company and the only thing linking me to it is a shared PO box mailing address on the holding entity, the lender gets alerted. That level of diligence isn't possible with human effort or even traditional data processing techniques.

I would like to expand to investors in the future but this technology is very new.

Another common practice for nationally sparse datasets such as tax data is aggregation. For example, to get up-to-date property tax data you would need to scrape every county's tax data website (thousands of different websites, data formats, issues, etc...) then aggregate and clean the data. For most, this isn't a realistic option so they update some of the most important regions themselves and copy the data from other providers where they don't have coverage.

This is a big problem with these big consumer-grade real estate analytics platforms—you don't really know the source of that data, its frequency, etc. Very few providers are actually internally sourcing all of their national real estate data—there is lots of copying and stealing.

Any recommendations for commercial brokers with relationships at local banks?

Looking to take advantage of these more recent dips in the 5/7 year treasury. I am finding many nationwide lenders are currently in the 9s and 10s for DSCR loans, will local lenders are offering 5 year treasury + 200-250bips (6s and 7s). Problem is these local lenders seem impossible to make contact with without a lending relationship or broker. Any broker recommendations are appreciated, I'm happy to pay half a point to lock in a much more favorable rate.