REI BLACKBOOK—THE PROPERTY ANALYSIS TOOL
I have been looking for an all encompassing program that will provide all the analysis and evaluation materials and options in one program that makes all analysis quick and easy when looking at potential purchases.
Recently I purchased a program called REI BLACKBOOK. Since I have 30 days to evaluate it, I wanted to jump right into the program as soon as I got my password and access.
Starting the process was relatively painless. When making the purchase, I listed my login name as my company name. The company sent my login information and a temporary password. I logged in and watched the introductory video on the home page. It was short and catchy. See opening page:
The home page is easy to navigate. The bottom of the home page spot-lights a member and offers a number of timely topics:
Although I looked briefly at a couple of the “articles” this is not an evaluation of their accuracy, writing style or timeliness. I wanted to get right into the property analysis because I was very intrigued by the sales pitch that you can get immediate analysis, comps of current sales and current rental prices.
Since I have been watching the HUD website and bidding daily on the HUD homes in the San Diego area, I decided to evaluate a current HUD offering and thus went directly to WWW.HUDHOMESTORE.COM, entered STATE: California, COUNTY: Orange, BUYER TYPE: Investor and hit the SEARCH button:
This brought up only one property at 21331 Antigua Lane
Huntington Beach, CA, 92646
Huntington Beach, CA, 92646
So I plugged the property address into the REI BLACKBOOK Property Analyzer and clicked the ANALYZE button.
This brings you to a page that offers to SHOW SOLD COMPARABLES and SHOW RENT COMPARABLES:
I clicked on the SHOW SOLD COMPARABLES and was given a myriad of homes that were all within 1.16 mi of the subject property:
I then limited my search to only those homes that matched my subject home of 4 bd 2 ba. And clicked the PRINT COMPARABLES:
Within a matter of about 2 minutes I had not only a list of comparable homes sold but also the estimated AFTER REPAIR VALUE of $694,125 and the MAX OFFER of $465,063.75.
I also wanted to take a quick look at the SHOW RENT COMPARABLE. This proved to be a bit more challenging because no rental units came up that were 4 bd 2 ba even going out 2.3 miles.
The bottom of the page gave a small ZILLOW view of the property:
I wrote in one of my previous blogs about another property analysis program called PROP STREAM, so I decided to do a quick comparison of the Prop Stream in relationship to this property. Their analysis gave $551,309 as the estimated value.
PROP STREAM seemed to be a lot more limited on showing the homes that had sold within 2013.
It actually only listed one home:
So at least based on this brief analysis, I would have to say that REI BLACKBOOK wins hands down.
There are also considerably more features in REI BLACKBOOK including client websites, marketing materials and other goodies. I will try to write more as I continue my analysis. But for now I am signing off.
May you find wealth and good fortune in the real estate market.