What area do you cover?

The United States for US buyers currently. International buyers and international markets may come later.

What is your refund policy?

For buyer's subscriptions, no refunds are available. Once payment is made, all information is accessible and payment is earned for the entire month in whole month increments. You may cancel at any time and the next month will not be charged.

For seller's subscriptions, no refunds are available. Once payment is made, all property information is accessible to the world, and payment is earned for the entire month in whole month increments. You may cancel at any time and the next month will not be charged.

For single seller listings, no refunds are available, except for the following case: if a property was originally listed with a price that yielded a 10% CAP rate or higher, and the property did not sell in 30 day, then 110% refund will be given.

How do you determine the CAP rate?

The CAP rate is determined by taking the NOI divided by the asking price plus average repair costs. This allows compairing apples to oranges, by first converting the orange to an apple. Any property in disrepair must first be brought up to like-new condition, and that expense is factored into the cost of aquisition. The NOI is determined by taking the GMI (gross monthly income), subtracting 5% vacancy rate, to get the GOI (gross operating income). Then taxes, HOA fees, .9% of aquisition costs for insurance, 10% of GOI for management, and 10% of GOI for maintenance is deducted from the GOI to arrive at the NOI. Management cost is always included, even if the owner manages the property themselves as a personal decision to increase profits. If the owner must move or falls ill, management must still take place and must be outsourced.

Why should one include an appraisal or inspection?

People pay more money for a sure thing. Just as people pay more money for a brand name product they know and trust will perform, people will pay a little extra for the certainty of a reliable investment. Consider how treasury bills are highly rated and have a low yield. By eliminating all or most doubt about the deal by providing all information up front, a potential buyer will feel more confident they know what they are getting into.

As a buyer, should I conduct an appraisal even though one has been provided by the seller?

You should strongly consider conduction your own appraisal if you suspect fraud, the property is a stretch for you, or there is any discrepancy in the information provided. Contractors, inspectors, and even appraisers can be bribed. However, licensed inspectors and appraisers conspiring with sellers to commit fraud is an actionable offense you can take legal action against. An example would be appraisal photos of a different house than the one represented. Usually a buyer can use a trusted contractor to walk through a property to get a good estimate of the veracity of the seller's information. Realize that if you intend to finance with a regular bank, or re-finance after repairs, then you will most certainly be required to obtain an appraisal of the bank's selection.

Why isn't cashflow listed nor calculated?

Cashflow depends on financing, if any, and financing is a highly personal decision based on many factors and preferences. It could depend on your credit rating, the equity in the property, if you choose 15, 20, or 30yr term, interest only or fixed rate, etc. Just know that a higher CAP rate will always be a better investment.

Should I submit an ARV appraisal, or as-is?

That is your personal decision. An ARV appraisal will facilitate the sale because hard-money lenders will likely require an ARV appraisal before providing rehab money to the buyer. Traditional banks will require an as-is appraisal if the buyer uses them. For properties requiring extensive rehab, it is more likely that a buyer will use a hard-money lender to purchase, rehab, then refinance later. For properties needing little repair, a traditional bank is more likely to be used, but will require their own as-is appraisal. In either case, you should include a schedule of comparable rents in the appraisal.