A recently renovated and sold home in Petworth.
A new real estate portal called Flipt says it will use data to best determine how to profit from a real estate investment, looking at the local market to determine whether renting out a property, buying, rehabbing and selling it or renovating it to live in makes the most financial sense.
TechCrunch says the new service “estimates the rent and cash flow based on local demographics, locations and other data about the house.” If it lives up to its description, Flipt’s ability to shift functions makes it versatile for a number of users, not just investors. For example, if you’re just looking to buy a home to live in, it will give you data about long-term resale potential.
The site claims it is capable of calculating a return on investment (ROI) figure based on a number of factors, including using comparable properties to generate recommendations for investment types. However, TechCrunch notes that the app’s lack of search capability makes its use limited for those embarking on a search for a new home, at least in its current version. Because the site is not very responsive in terms of price range and area searches, it’s better to have an address in mind before looking up data.
Flipt is also launching a “pro” version that will offer real estate agents direct access to users interested in purchasing a certain property they spotted on the site.
Those interested in giving Flipt a test drive will have to wait, however. Either due to demand or technical issues (or perhaps both) the site was temporarily out of commission on Monday.
This article originally published at http://dc.urbanturf.com/articles/blog/new_real_estate_app_flipt_uses_data_to_determine_how_to_profit_from_propert/8446
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