Walking the street looking at your next residential investment prospect? Don’t forget your phone, I meant, Zilpy ToGo!
Posted in Real Estate Info For Investors By Yelena Drabkin, Sunday, April 27, 2008.Today I’d like to share an emotional story we received from Stephane, a real estate investor just starting up, looking to find his first property. I am withholding onto last name for privacy purposes. So, here we go…
I have been using several websites looking for foreclosures and other possible deals. I had about 50K to start with and I was looking at a fixer-upper, SFH 2 or 3 bedrooms, something in need of some repairs that can command a high price discount, even a foreclosure.
Being from Chicago, I have been looking on the South side of Chicagoland where it seems to be a good place to find such bargains. However, Chicagoland is huge and next to impossible to comprehend and stay accurate with all market prices.
My wost fear starting up as investor: how do I know if I can break even? How do I get the rent info? After asking left and right everybody pointed me to the local newspaper and even craigslist. Some also pointed me to ask local realtors. I got confident and picked up one property in Chicago Heights, IL listed for $55,000. Oh wow, that fits my bill I said and I jumped in my car and took off.
After driving for 45 min I get there, and then the reality hits me: ok, if i buy it, how much can I rent it for? I was scratching my head nervously, I was sitting there in my car and I called my friend who has several properties in neighboring areas.
His answer was: Do you have Internet on your phone? I said, sure, I have a Treo. Then go to www.zilpy.mobi and enjoy yourself.
I sure did because I was able not only to pull an instant free rent estimate of $858 right off my Treo, but also top 5 comps nearby in 2 seconds flat!! That was excellent and since I was already in the area, I drove by to see them. Oh WOW, I felt I started to love what I was doing for the first time!
Thank you Stephane for the great story. We at Zilpy love to hear stories like you, where first time investors or even those with several years of experience leverage the power behind Zilpy when they need it and how they need it. You just saved a weekend worth of scouring newspapers and internet sites, making lists and putting properties side by side to compare apples to apples. www.Zilpy.mobi was created with convenience in mind, to quickly have access to do a reality check on a specific address or cross street.
Read more on zilpy blog
http://www.zilpyblog.com/
Here is a sneak peek on the upcoming posts:
- How did James and Mike, co-eds, save a weekend looking for an affordable place to rent for the next year
- Rental market is melting, should I rent or buy? See top 10 metro rent vs. buy special report comparing rent and sale numbers
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Submitted by Jay Thompson on May 1, 2008 - 8:30pm.
Maybe it's just me, but I'd rather not see this group turned into an advertising platform...
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
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Submitted by Jay Thompson on May 1, 2008 - 8:34pm.
My comment above was really directed at Walter's comment. It's one thing to recommend a product, but a brokerage or MLM or whatever "diligent earnings" is just seems a bit over the top...
Just my opinion.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Louis Cammarosano on May 1, 2008 - 8:34pm.
A little spam and then I suppose let's you know the site is live :-)
Submitted by Walter James on May 1, 2008 - 9:38pm.
Thanks for your comments, but my intention is not to spam but rather provide an opportunity to supplement our income. I don't know about you but I can use a few extra bucks a month until things turn around. Also you can learn a bit more about internet marketing for your biz. Think outside of the box!
Walter James
www.diligentearnings.com
Submitted by Mary Morris on May 4, 2008 - 9:47pm.
Thanks for the information on the rental comp website. Because of the struggling market I'm asked almost daily about our rental market and what rents are going for now days. I will keep this handy for my referrals.
Mary
Submitted by Ryan Horne on May 5, 2008 - 6:04am.
Thanks for the great info. It does not seem to be populated with much info for the area I represent, but it does have some areas covered. Great tool. Thanks again.
Ryan Horne
Delaware REALTOR
http://delrealestateonline.com
http://delrealestateonline.com/blog
Submitted by Ned Carey on June 15, 2008 - 5:51pm.
Thanks for a great link. I could have used this just last week when checking out a 6 unit building in a new area for me.
Ned Carey
http://baltimorerealestateinvestingblog.com/
Submitted by Eliese Pivarnik on June 15, 2008 - 9:20pm.
It doesn't work for my rural market either, but I don't need it to know rents are going up.
Eliese Pivarnik, Steamboat Springs Real Estate Broker Associate
SteamboatHomeSales.com
Submitted by Eliese Pivarnik on June 15, 2008 - 9:21pm.
Can you edit comments after they are posted?
http://www.steamboathomesales.com
Eliese Pivarnik, Steamboat Springs Real Estate Broker Associate
SteamboatHomeSales.com
Submitted by Scott Roemermann on June 16, 2008 - 3:56am.
Hey, love this recommendation.
Thanks,
Scott.
www.investing-secrets.com
Submitted by Jason Graves on June 16, 2008 - 4:49am.
If I had a nickel for every time people offered me a chance to "earn some extra bucks" I think I'd really have a true supplementary income.
Thanks for speaking up Jay.
Jason Graves
www.RaleighRealEstateNews.com
Submitted by Bill Lublin on June 16, 2008 - 7:18am.
Bill Lublin CRB,CRS,GRI
CEO CENTURY 21 Advantage Gold
Visit my Blogs at REreflectionsMovePhilly
Search for Homes in Pa & NJ
I have to agree with Jay - the Zilpy Mobile product was interesting to me since I won a bunch of rentals and can use the mobil application as a guide when I am out on the street.
But I have to agree with Jay that these comments are for comments about the post and not self-serving promotions of product or services. If they're any good get a review of them published because of the merits. Or go visit either
www.I.have.a.job.already.com or
www.I.do.not.want.advice.from.someone.who.cannot.buy.their.own.ads.com
for more details.