Author Topic: Did anyone here invest with roofstock?  (Read 563 times)

minimalistgamer

  • Bristles
  • ***
  • Posts: 265
  • Location: United States of America
  • Gamer and minimalist.
    • Minimalist Gamer
Did anyone here invest with roofstock?
« on: July 19, 2019, 01:20:20 PM »
Just wanted to get your thoughts on this. Anyone invested with this company? I like the idea of owning real estate without having to worry about the work that comes with it. This seems like a good option to consider.

Are there any red flags you see with this? Thanks for any insights. Appreciate your time.

Lanthiriel

  • Pencil Stache
  • ****
  • Posts: 802
  • Location: Portlandia
Re: Did anyone here invest with roofstock?
« Reply #1 on: July 22, 2019, 01:01:28 PM »
I haven't invested with Roofstock, but I've done some research into a couple of deals I've been interested in on there. It seems like they're charging quite a bit higher prices than what nearby houses are going for that were listed through MLS, e.g. a house listed in Columbia, SC (needing ~$5k worth of repairs) being listed for $60k when its neighbors had been selling around $30k (repair needs unknown but Zillow showed similar condition). It seems like almost none of the listings would cash flow if you purchased with a standard 20%-25% down investment mortgage. Having not used the service, however, I have no idea to what extent you're able to negotiate down their list price.

I too am super intrigued by the concept, but not quite sold on the execution. I'm very much still in the research stage and gearing up to hopefully make my first long-distance rental purchase in the next 1-2 years (I'm in a HCOL area). There are so many variables to understand; it's a bit daunting.

minimalistgamer

  • Bristles
  • ***
  • Posts: 265
  • Location: United States of America
  • Gamer and minimalist.
    • Minimalist Gamer
Re: Did anyone here invest with roofstock?
« Reply #2 on: July 25, 2019, 04:46:00 AM »
Indeed. There is a lot to learn, and the few reviews I have seen of Roofstock have been positive, but I just can't take those at face value. I have never invested in real estate before and I am almost gearing up for my first investment. I am either going to buy a rental property or buy another home, and move into that place and rent out my current home. I am really not sure which way to go.