If you are looking for a good investment property, the problem will be finding the needle in the haystack since there are hundreds or thousands of bad or marginal deals for every good deal. If you have to do this on your own, you will end up spending weeks going from property to property before you find even one good buy. Suppose instead of thousands you only had to select the best deal from a small number of pre-selected set of potentially good deals? Not hard at all. This is the unique capability I provide. I wrote about 25,000 lines of software to accumulate, consolidate and rationalize information from a number sources in order to be able to eliminate bad or marginal deals. I wrote the software; it is not available from anyone else.
At left is an image depicting how my software works. There is something that is VERY important about my software vs. any other algorithm (I have a degree in engineering and my focus was numerical analysis; math is not a problem for me.) I have seen. Other algorithms attempt to select good investment properties. I believe that this is fundamentally impossible since there is insufficient data available about each property to make that determination. After considering existing algorithms, I choose a very different approach. My software eliminates properties that have bad characteristics leaving only ones that might be good. While it sounds like a small difference, the quality of the end result is huge.
For example, below are two properties. They are very similar in terms of basic characteristics. However, the one on the left would likely be a very poor rental property while the one on the right would likely be an excellent investment.
So, how would you know by looking? You can't. The property on the left was rejected by my software due to the time it takes to rent and vacancy rate for the area in which it is located. These are not things you can easily determine without a lot of analysis which also requires sources of data not available to most people.
However, blindly believing in any such software selection is wrong. Why? Consider my software. The output of my software are potentially good deals because the properties have no discernible negative characteristics based on the available information.. But are they good deals? Not necessarily. What can make them bad deals? Below are some reasons why they might be bad deals.
The lesson is that analytics can eliminate bad properties but only common sense can select the good ones. So, if you are working with me, you will be selecting the best from from 20 to 50 properties which all have excellent characteristics. Here are some examples my software selected. Alternatively, working with anyone else, it will take a lot of work to find that needle in the haystack.
Contact me if you are considering buying or selling Las Vegas real estate. You will be glad you did.
...Eric
Eric Fernwood
RE/MAX CENTRAL
8400 W. Sahara Ave
Las Vegas NV 89117
Email: EricFernwood@gmail.com
Website: www.EricFernwood.com
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Cell: 702-358-8884
Fax: 702-202-2020
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