Investor Intel: Tech Edition
Real Estate tech is booming. While perhaps the majority of investment has been focused on the owner-occupied mortgage space with the launch of Quicken’s Rocket Mortgage and Sindeo’s five-minute mortgage, the single-family rental space hasn’t been completely left in the cold.
This week, real estate auction marketplace Hubzu announced that it had teamed with RentRange to offer estimated potential rents for investment properties. According to an Inman piece on the news, “the Hubzu site will pull data from RentRange to identify comparable properties with a one-to-two mile radius and provide the estimated potential rent for each one…Hubzu will now give investors low, median and high estimates of potential rental income.”
This partnership is exciting for a couple of reasons.
First, rental investors make decisions on whether or not to buy a property based on the rental income it might generate (among several other factors of course), so now they won’t need to spend a ton of time researching market comparables on their own in order to make decision. This saves time and potentially might prevent missed investment opportunities.
Second, asset-based lenders also make decisions on the cash flow of the investment property, a calculation which includes how much rental income the property can command. Now, lenders will have access to a third party source to verify this information should they choose to – a move that could increase transparency into lending decisions.
This is the latest of a number of enhancements Hubzu has offered since launching its platform and it’s definitely worth a look!
In keeping with the tech theme, we’ll be publishing a blog on Smart Home improvements on Monday. Be sure to check it out on the B2R blog.
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