All Forum Posts by: Zach Evanish

@Tim Johnson As I noted in another thread, I’m sorry to hear about your experience as this is not typical for Roofstock buyers. It sounds like our head of customer success has reached out to you with a solution. We recognize there were some delays in response and have put in measures to prevent that in the future. We appreciate your feedback and hope we’ve resolved this to your satisfaction. I’m available any time if you want to discuss further.

@Ross Yeager Thanks for sharing a very balanced perspective on Roofstock. 

@Tim Johnson @Alvin Lee Sorry to hear about your experiences as this is not typical for Roofstock buyers. Our head of customer success has reached out to you with a solution. We know there were some delays in response and have put in measures to prevent that in the future. We appreciate your feedback and hope we’ve resolved this to your satisfaction. If you would like to discuss this further please feel free to reach out to me directly.

@Chandler Harker Let me know if I can help answer any questions. I can walk you through the process and help you navigate the site to find a deal that suits your needs. We provide a wealth of data and information in the diligence vault on the properties.

@Anandakumar Elumalai

We are sorry for your recent experience on Roofstock.

As explained in our email exchanges:

• all offers, including yours, were made available to the seller
• the system did fail to cancel all pending offers after the review period ended and our engineering team is looking into what happened and working to correct this error

We can also confirm:

• your third offer to purchase the home after it was erroneously listed (given negotiations were on-going and had not been cancelled) after the review period was made available to the seller, who rejected it given the current higher offers he was negotiating
• the seller was negotiating after the review period (this is the system error noted above that we are working on) with parties who bid on the property during the open house period and whose initial bids were higher
• the seller is currently in contract with a buyer with whom he was negotiating with in the review period (and later) at a price in excess of your offers

• we confirmed that an email was sent to your email address on July 14th @ 9 am that your offer expired due to the seller not taking any action

Lastly, one of our executives reached out to you via telephone a week or so ago and if you would like to discuss this matter further please feel free to call him.

We hope this clarifies what happened and again we apologize for the inconvenience.

@Elaine Hester The biggest difference is that Roofstock does not own the inventory on our site. We are a curated marketplace specifically for investment properties. We use data and technology to allow investors to buy and sell investment properties in an easy and fully transparent fashion. We have a lot of investors that are using Roofstock to satisfy their 1031 exchange. I will send you a DM so we can chat further.

@Ali Boone  Thanks for the questions. Wanted to answer your questions and clarify some of your points.

• Our inspections are done by third party vendors. Roofstock has ZERO influence over the results. We are constantly reviewing performance by all vendors. (checks and balance)
• We provide a wide selection of options for buyers and sellers. A large selection of our properties are "turn-key," as they come with tenants and property management in place. The difference is we do not own our properties.
• We are a curated marketplace. Only those listing that pass through our certification process make it on to the site.
• We include a Roofstock Guarantee on properties purchased through our site.

@Larry Fried It varies by seller and property. We are all about transparency and want the buyer to have as much information as possible before making a decision. We are in this for the long term. 

@Dori Arazi

#1-90% of the properties listed on our site are exclusively listed by Roofstock and only available for purchase through our site. If these were non-exclusive you might have a point but that is just not the case.

#2-Not sure what you mean by "heavily control." Buyers are able to use whichever lender, property manager, etc. they would like. If you are referring to wholesaling, double closes, etc. than you are correct. We are not in that business. 

@James Wise Our team has spent significant time in every market we operate in. We also have local property managers and brokers. We have a valuation team that provides an upfront valuation and those comparable sales are provided in the diligence vault. That being said if a buyer feels a property is priced too high they can of course make an offer below list price. In the end we let the market (buyers and sellers) to determine the value.

@Larry Fried Roofstock is a marketplace for investment properties. We have a wide variety of options. For properties that have already been inspected and are occupied we try to limit the disturbances to the tenant. Buyers are still able to access the property. We just don't do open houses and showings as is traditionally done.

@Alvin Lee Sorry to hear about the delay with the inspection. I have reached out to our customer success team and we will get this corrected ASAP. Please note that while we do our very best to expedite the inspections sometimes it can be difficult to find a time that works with the tenants schedule. We believe it's important to be respectful of the tenants schedule. Keeps for a happy tenant for current owner and potential buyer and it's the right thing to do! 

@Craig H. The goal at Roofstock is total transparency and to give buyers an idea of the type of returns they might expect from a particular property. The expenses are based on our experience owning and managing thousands of single family homes across the United States. As you are aware for most properties the largest expense (in terms of % of income) is property taxes and these can vary greatly from market to market and sometimes within the same market. With that being said our expense are projected and I think it's great that you are running them through your own model. We can agree to disagree on how people are making any money. My wife and I have purchased five properties through Roofstock and our returns have extremely solid and significantly above what was posted on the site. I will message you directly as I don't want to take over the chain.