Has anybody looked into this? It's a "turnkey" real estate investing site.
It only makes sense if you are interested in acquiring rental properties as a VP and for cash flow far away from where you live, and don't have time to do the legwork yourself. It lets you optimize location which can make up for the extra fees involved.
Sounds attractive and maybe too good to be true, but certainly worth looking into and maybe also a decent way to get started in rental real estate.
Roofstock
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Re: Roofstock
Looks like they have mixed reviews on Bigger Pockets.sophie wrote:Has anybody looked into this? It's a "turnkey" real estate investing site.
It only makes sense if you are interested in acquiring rental properties as a VP and for cash flow far away from where you live, and don't have time to do the legwork yourself. It lets you optimize location which can make up for the extra fees involved.
Sounds attractive and maybe too good to be true, but certainly worth looking into and maybe also a decent way to get started in rental real estate.
Personally, I like real estate but if I didn't like my local market and didn't have time to do my own legwork, I'd choose something else until I could.
Re: Roofstock
I read a few articles on crowdfunded real estate, and it sounds sort of like the real estate-focused version of Lending Club. It is nice that the loans are secured with real estate, but it's the same model of loaning out money and expecting that part of it won't get paid back.
The thing I liked about Roofstock is that it's basically an assisted way to buy an investment home or condo. You end up with a piece of rental property and are set up with a property manager etc. And, I read the reviews on Biggerpockets. The most negative one told a story that I actually thought spoke well of roofstock: something went wrong with a sale after the contract was signed, RS offered advice, and the buyer eventually took it. He was out only the hours spent, which is way better than being out, say, $40K. In exchange, you have to trust RS's choice of housing stock, home inspectors, managers etc, plus pay them a 0.5% fee.
Just wondering if anyone was thinking about trying this.
The thing I liked about Roofstock is that it's basically an assisted way to buy an investment home or condo. You end up with a piece of rental property and are set up with a property manager etc. And, I read the reviews on Biggerpockets. The most negative one told a story that I actually thought spoke well of roofstock: something went wrong with a sale after the contract was signed, RS offered advice, and the buyer eventually took it. He was out only the hours spent, which is way better than being out, say, $40K. In exchange, you have to trust RS's choice of housing stock, home inspectors, managers etc, plus pay them a 0.5% fee.
Just wondering if anyone was thinking about trying this.
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Re: Roofstock
I would sleep a lot easier with a reit index fund.
I wouldn't trust myself with that much concentrated risk.
You would need to love it or it will end up being a headache with even the little things.
I wouldn't trust myself with that much concentrated risk.
You would need to love it or it will end up being a headache with even the little things.