Propertyments
Property management and deal analysis platform
After receiving positive feedback about the rent/property analysis tools in propertyments I decided to pull out the functionality into it's own application: reicheck.com
reicheck provides instant rental comps and property analysis tools to understand your potential deal fast and compare it to other offers. I mix property data and the rental comps with state-by-state figures to come up with cap rate, IRR, cash flows, NOI etc all in just a couple of seconds so you can know what to expect to receive in rent, and what potential expenses are.
Check it out!
Finished the third #househacking calculator - giving the ability to quickly estimate the cost of rehabbing a house! Next up is giving the ability to compare properties against each other for mortgage, seventy percent, and rehab cost.
The second house-hacking, deal-analyzing calculator is complete and pushed to production. Next up is a Rehab Estimator, work has already begun!
The first Propertyments calculator is complete and pushed to prod - a pretty nice mortgage calculator: https://imgur.com/a/s7CMmIR. Next up is either 70% rule or BRRRR calc. The framework to rapidly produce these is in place so it shouldn't take too long to get the next out the door.
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I'm so glad I never have to do this guys! After studying financial literacy, I realized that a mortgage is a bad idea to invest. On the example of my cousin Martin, one can understand that this is indeed the case. For all the time he overpaid already a huge amount, taking a large two-story house on a mortgage. But I warned him lol. I recently stumbled upon the https://www.moneyunder30.com/ platform, with which I was able to get the best possible credit card. I needed money to buy a new car and was able to find the best deal.
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Such a useful thing! Where can we get it from?
I've focused Propertyments on landlords that currently own and are renting out their property from day one. Recently I've been hearing a lot of feedback around the "house-hacking" types that use tools such as BiggerPockets to run calculations about potential real estate investments. For the next few months I'm going to start building out tools needed to evaluate potential investments and hopefully use that as a way to convert those potential properties into managed properties within Propertyments. I'll be surveying current users on their approach to evaluating a potential investment and hopefully find a nice work flow to speed up that process. More to come..
Over the last week I worked on my first walk-through video for Propertyments. I had a difficult time writing scripts and sticking to them without sounding too robotic. I kept screwing up something small, but enough to throw off my focus and need to restart the section I was recording. I have a new found respect for people that do this elegantly.
Anyway, here it is. It's the first of many and focuses on the rent collection portion of Propertyments - I'd love to hear your feedback. Next I'll probably put out a high-level walk-through of the app and its features.
Anyone else build their app to a "working " state then need to come back and optimize each page? It's been daunting understanding the performance impacts of loading multiple js/css files, when to async/defer, and how to properly bundle all of your libs.
I think for the next project I'll build that workflow in from the get-go so I'm not spending so much time optimizing down the road.
One of the biggest issues i've been fighting is TTFB on Azure's servers. I think at this point i've done about all I can to optimize how the pages are rendered, but I still see TTFB of >1 second on most pages. I assume azure knows what it's doing while hosting my app and I'm probably still not optimizing perfectly, but it's been a months long overhaul to get this right.
Missed a rent payment before setting up the schedule rent? Need to collect a little extra from your tenants this month? Propertyments now offers one-time ACH payments! Read more here: https://propertyments.com/Documentation/RentCollectionOneTimePaymentsFull
Propertyments is starting to really take off by processing large amounts of rent for landlords. This was not originally intended to be a big portion of the product but has become the most used module since its release. I'm researching why the influx of rent-process-focused customers, maybe it's due to competitors being bought out? Word getting around about the ease of use? Not sure. Right now it's exciting to see the machine go through the motions to get landlords paid on time. Very satisfying each time we communicate out to our customers that money is on the way to their bank!
I believe property managers need enterprise tools to really get a handle on their investment properties, no matter the number they own or manage. That's why I never restricted the features in Propertyments based on the number of units, however I did charge a gradually increasing amount based on them. Now, the first five properties managed in Propertyments are free of charge. As always you get the full set of features including rent collection, tenant and lease management, real-time chat, secure document handling, accounting and much more.
Hopefully this will drive more small real estate investors to Propertyments while still letting me keep my head above water as the need for resources considerably increases with larger property management firms.
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