There are a lot of compelling reasons to invest in single-family rental (SFR) homes, now more than ever. SFRs are one of the fastest growing segments of the U.S. housing market and, according to 2018 data from John Burns Real Estate Consulting, have historically shown strong, stable cash flows — even during economic downturns. Importantly, the SFR segment offers significant opportunity for individual investors.
Roofstock’s mission is to empower individual real estate investors with unprecedented access to the SFR asset class through a technology-enabled marketplace that makes it easy to buy and sell rental properties, 100% online. Now, with the launch of Bring Your Own Property (currently in beta), the investment opportunities and options are more diverse than ever.
The new Bring Your Own Property program allows SFR investors to “bring” a property not listed for purchase on the Roofstock marketplace. If the property is approved for the program, investors receive the same perks guaranteed to all Roofstock investors, including the Roofstock Guarantee and a free home inspection report.
Through this process, Roofstock will evaluate the home’s return potential by applying the same proprietary data science used to underwrite listings on the Roofstock marketplace. If the property is approved for the program, Roofstock will facilitate offer management services through a locally vetted Roofstock real estate agent. To top it all off, buyers receive the same perks guaranteed to all Roofstock investors, including:
- A 30-day, money-back guarantee
- Guaranteed rent on vacant, rent-ready properties
- A free home inspection (~$500 value) to assess property condition and any recommended repairs to make the property rent-ready
- Access to our expert local market agent
- White glove support throughout the entire process
You asked, we listened.
An increasing number of investors have requested the Bring Your Own Property program. Bring Your Own Property is a direct response to customers who are looking to leverage Roofstock’s sophisticated data modeling and technology solutions that help determine a home’s return potential, in addition to the security and confidence that comes with investing through the Roofstock marketplace.
The program is currently open to SFR properties in the following areas, with the potential to expand to other markets.
- Atlanta, GA
- Birmingham, AL
- Dallas, TX
- Fort Worth, TX
- Houston, TX
- San Antonio, TX
- Indianapolis, IN
- Pittsburgh, PA
I’m interested. How does it work?
Visit our Bring Your Own Property page for a step-by-step overview or to submit your property. For more in-depth explanation, continue reading.
Investors looking to bring unlisted properties to Roofstock can submit a property for consideration using a simple form. From there, Roofstock’s team of data science experts deploy our proprietary underwriting technology to estimate the home’s performance as a rental investment and, upon approval, connect investors with a vetted Roofstock local real estate agent who will share an exclusive analysis on the property with the investor. The private link allows investors to gather insight into the underwriting details of the property and pro forma return projections. If the investor would like to submit an offer, they can do so with the expert assistance of a locally vetted real estate agent who has partnered with Roofstock.
If for any reason the property is denied, each investor is permitted to submit up to 10 properties per month for consideration, and the submission process is free of charge. Roofstock’s standard marketplace fee applies when an investor makes an offer and that offer is accepted by the seller. The marketplace fee is equal to 0.5% of the contract price or $500, whichever is greater.
Investors can expect comprehensive and transparent service when working with the Roofstock team. Every buyer is given access to a local real estate agent handpicked by Roofstock for their expert market knowledge and demonstrated ability to answer detailed questions about the local neighborhood. Investors are assisted by their real estate agents from negotiation to offer acceptance, and will also benefit from Roofstock’s customer support team even after the deal closes.
See what our early users have to say
Beta users of the Roofstock Bring Your Own Property program have already experienced success. Colin Walsh, a Bay Area customer working in software and consulting, was among the first to participate in this program.
“Having the Roofstock safety net around the transaction makes remote single-family home investing almost as simple as using a robo-advisor for stocks,” he said.
Walsh purchased a property in Memphis, TN on the Roofstock marketplace, and his second property in San Antonio, TX using the Bring Your Own Property program. His total estimated five-year return for both properties is $11,375.
“The whole experience of investing in a Texas property from California would have been really daunting [to do on my own],” he said, “[Roofstock] definitely simplifies the experience.”
I have a property I’d like to purchase through this program. Where can I get started?
To submit a property for consideration, visit the Bring Your Own Property Page and let the Roofstock team handle the rest.