Adam Stern shares a few tips on how to get buyers to take interest in your rental portfolio.
Once you have a rental portfolio in place and are ready to start selling off properties, you’ll want to find buyers to take a look at your specific portfolio.
Mike: Welcome back to the flipnerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Adam: Hi, my name’s Adam Stern. I’m the President of OwnAmerica, the premier national single-family route property trading platform operating in the United States today. I am the number one single-family rental property portfolio salesperson operating in the United States today. This is the REI Classroom. Welcome.
Mike: This REI Classroom lesson is sponsored by FlipNerd Investor Coaching, your blueprint to investing success.
Adam: I wanted to talk to you about something that has been a challenge for single-family rental property portfolio owners, try to say that three times fast, which is making a market or finding a market of buyers that will want to look at, and underwrite, and have interest in buying your single-family rental property portfolio.
The way OwnAmerica has done it, and we’ve developed this concept over a lot of years, through OwnAmerica.com, we offer free analysis and valuation, which is free and cool for owners to use. They upload their portfolios, they get a free valuation, and they get free packaging which attracts a lot of inventory. And the idea behind it is if you attract a lot of owners that own properties, an owner that owns 10 probably has aspirations to own 50. A guy that owns 50 probably has aspirations to own 200. So the way we make a market is by giving away free data, free valuation, and attracting owners to one single platform where they can track their value and congregate in one space.
That works out great because we get a lot of action and a lot of people looking at our platform to either look at their own portfolios or other people’s portfolios. But the challenge is also making a local market for these kinds of portfolios. And we’re of the opinion, as opposed to a lot of the investors that we talk to, that real estate agents are not useless. Some of the things we have done with real estate agents . . . and we were real estate agents in the past. My partner, Greg Rand, ran a really large brokerage company in suburban New York called Rand Realty. I’ve been registered in the residential brokerage industry for a lot of my career. And there’s an old kind of disposition toward investors thinking agents really can’t do very much for them.
What we’ve been able to do is, through our platform, incorporate agents who are trained and certified through a company and an organization called the Five Star. They offer a certification called the Five Star Certification. They get trained in how to be an investment property expert, and they essentially get assigned to portfolios on our site, or they even self-upload portfolios to our site. We train them and we talk to them every single week about doing the following, which puts them in the realm of very useful realty professionals to investors.
They take a portfolio and they go around and they visit local investment clubs. They go to real estate investment meetings. They are part of the real estate investment associations locally. They talk to accountants and attorneys, and dentists and doctors, and anyone that wants to build their wealth through real estate. And they take what we have, which are stabilized single-family property portfolios, which don’t require much work, are cash flowing on day one, and you can buy and just kind of start receiving income just so long as you trust and know the property management company.
So they work from the ground up, we work from the top down, dealing with large caps and institutions and all the big guys that buy on our website. And together, together we create this market of owners and buyers and local people that, in a world like residential real estate portfolio sales, where there is no friction-free marketplace, this is the beginning of something really special. And that’s how we’ve been able to create a situation where, if you have a portfolio, there’s a place to bring it, there’s a place to value it and track it, and there are people that are trained in this industry to actually create a market for it. So I appreciate you guys watching. You can check us out at ownamerica.com. See you later.
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