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This startup is helping millennials to build $100K in passive income through remote real estate investing - CNN Underscored

February 18, 2021. Summarized by summa-bot.

Compression ratio: 55.6%. 2 min read.

"Real estate investment" and "passive income." Both terms are very appealing, but for many in their 20s and 30s, both can seem very far away. But Roofstock is looking to solve that.

In short, Roofstock is a company that lets you buy an investment home for rental and make the experience as turnkey as possible.

Roofstock uses a bevy of technology tools to offer insight and analysis on single-family homes for sale in over 40 markets, with listings starting as low as $60,000.

On Roofstock. com you can search listings just as you can on other popular real estate sites using a variety of filters, including Price, Neighborhood Rating, Location (State) and Property Status.

You can also browse some preset filters, such as “Newly Listed,” “Minimal Repairs,” “Best Schools” and “Price Reduced. ” Once you zero in on a few properties, Roofstock’s analysis tools help you decide with financials, neighborhood information and 3D tours.

Once you’ve decided to buy, you can make an offer through Roofstock, which is free, and if accepted, Roofstock will help you close.

Once you have your home, you can use one of the recommended property managers Roofstock lists in the area to handle pretty much all aspects while you start earning rental income.

If you’re not into the idea of owning a whole home, Roofstock is also building out a new capability called Roofstock One, a crowdfunding model for owning rental properties.

You should be particularly aware of this if you plan to flip a home and sell with Roofstock instead of “buying and holding. ” Further, it would behoove you to learn more about the local market in which you’re thinking of buying in terms of regional market trends and permitting requirements if you’re buying a fixer-upper.

Nonetheless, when thinking about investment vehicles, Mark Twain’s famous quote still holds true: “Buy land, they aren’t making it anymore. ” Roofstock is a compelling option to get you started on the road to real estate investing.

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