All Forum Posts by: Michael M.

@Daniel Walker

Software engineer, very cool. I'm actually working on putting together a web-map/application to help me analyze property metrics and market trends. With such a tight market in CO I figure a deeper understanding of the data is my best shot at an edge. 

My proof of concept is focusing on Denver and Arapahoe counties but the concept can be scaled and applied other counties once I have the system set up. I have the data and location analysis part down but will eventually need to partner with a developer to help me put all the parts together. PM me if your interested.

Hi Ben, Welcome to BP! Out of curiosity what are you studying?

@Steve B.

I agree. I'm putting together a web map and will be ingesting this data anyway so the API may be the best way to go.  

Thanks @Steve B.

I have been playing around with Zillow research data a bit. It seems that its hit and miss with accuracy in my target neighborhoods but at least its in list form so its seems to be a decent place to start. I think my best course of action is to get list like this from as many services as I can and clean the data myself. I will keep you posted on any developments. 

Thanks for the suggestion @Erik Nosich

I've definitely used craigslist to help me come up with comps and set rental prices for my own properties. Ideally I'm looking for a complied list that I can queiry. Unfortunately it looks like I may need to do the compiling myself. 

Best

Hello, 

Does anyone know where I can find an aggregate list of rental rates in a specific market? I'm familiar with websites like Zilpy, Rentometer and Zillow but those services require you to set specific search parameters or even search for specific addresses. It would be much more valuable to me to just look at the raw data, add it to my own map and do my own analysis on it. Does anyone know if this data is available? 

I have a good contractor in Denver. He did an add-on at my primary residence about two years ago and he currently working on a plan to split one bathroom into two. He's not the cheapest by any means but his work is definitely quality and he's a good guy. The fact that I'm hiring him again is as good a reference as I would any contractor. PM me if you want his contact info. Either way, good luck.

I haven't been on BP for very long so please take my forthcoming observations for what they're worth. I have been playing an accelerated version of catch-up on the blog posts and podcasts over the last few months. One thing that I'm continuously reminded of as I review the content of the site is the amazing diversity of investors active on the forum. It is pretty cool to see so many professionals with 20+ years of experience discussing creative financing, house-hacking, wholesaling, BRRRR, Fix and Flip or any number of other real estate investment strategies with complete newbies. I'm amazed at how many resources there are on this site and how open everyone is to sharing their experiences and best practices.

So in that same spirit I would like to give some words of advise myself. Now with that said, please know that I'm an amateur real estate investor at best. My investment portfolio (real estate and otherwise) has, however, benefited greatly from one simple concept. Personal Financial Literacy. 

I have seen several post about this and the idea has been brought up in many of the podcasts so I realize that I'm preaching to the choir for the most part. However, I also see many newcomers with little knowledge or experience focusing on the details of a specific investment strategy and rather than understanding the bigger picture of the investment. With the market continuing to tightening in many markets throughout the country (e.g. my chosen home of Denver!) I worry that those who are too eager to get in the game ignore the overall context. Now, I'm not saying there aren't deals to be had in every market - because there are, I'm simply trying to remind those who need reminding that its a marathon - not a sprint. 

Instead of making an already long post even longer by griping about how these immensely important concepts aren't taught in schools I will simply offer some valuable resources to those who are interested. So, for those who would like an intro course into the world of financial literacy check out the link below to the Khan Academy courses. For those who already have a solid foundation of the topic, watch the videos anyway. More importantly share them with your sons, daughters, cousins, neighbors kids or anyone else you can think of. 

I'm in no way associated with Khan Academy nor do I think these classes are the best resources for this topic. They are just good free introduction courses that make complex concepts accessible. 

 Be Well

http://www.practicalmoneyskills.com/resources/vide...

Thank you @Jean Bolger. I will look into the Brokers Guild as suggested. Do you have any contacts there that I should focus on?

@Matt M. I appreciate your insight. I'm a bit surprised to hear a broker say you can't find a deal on the MLS but definitely appreciate you shooting me straight. I tend to agree that my best bet is to find something off market and I'm working on building up a network that will help me get eyes on some of those deals.

To clarify a bit. The major motivation for getting access to the MLS is to be able to visit properties, pull my own comps and do my own valuations to help me get a better understand of my target neighborhoods. I see that as a substantial benefit regardless of where I find the deal. Actually finding something on the list would just be the icing.

Also, since I'm focusing on buy and holds I'm not overly concerned with the commission. When I start selling that may change. I would however like to avoid ongoing monthly fees. Ideally I will do all the upfront work and simply bring offers to my employing broker who will take it from there. I can also close very quickly which will help make the whole process relatively efficient. I imagine some employing brokers will see the value in that and consider me a pretty safe bet. 

Thanks again for the replies. Looking forward to other's thoughts on my situation.

Hi BP.

First post!

I recently completed the broker associate licensing exam and I'm looking for an investor friendly employing broker in the Denver metro area to hang my license. I have no plans to be a traditional agent. My motivation for getting the license is twofold: First, I own a consulting firm that works in the commercial real estate realm. Having a real estate license will help me get closer to some of my long term goals for that business. Second, and most prudent to this forum, I want access to the MLS. The idea is to find, value and analyze my own deals. I won't need much support from the brokerage firm would like minimal fees in exchange. I plan to buy 1-2 properties over the next year.

So, can you recommend anyone? What do you think of my plan? What about my first post?