Real estate investors know one thing all too well in the everyday rat race of the world of investments – the familiar challenge of finding credible information sources to turn to when considering a new investment.
In my position at NuWire, I always have my eyes and ears open for interesting people doing interesting things. Amy Phillips, CEO of DeedQuest is just that – she’s not only a female entrepreneur, she’s also developed a company that provides a tool that will be, in coming months, quite helpful to investors looking for a practical way to evaluate deals, strategies, and ideas.
The purpose of DeedQuest is to streamline the process of real estate investing by creating a platform of people, resources, data and tools that’s accessible to all investors, or would-be investors. I decided to hop on and register to see what kinds of tools are available, and scope out the user interface.
Now, a disclaimer:
Bar-none, the most common complaint that I hear is that the biggest frustration investors have with the real estate market today is the lack of accountability among service providers and so-called ‘experts’. It’s hard to know who to trust. And who to pay for advice. And really, should you have to pay for advice, especially when said advice comes under the guise of five DVDs and a handbook? Frankly, that’s one of the reasons that NuWire exists, and one of the reasons I so enjoy being a part of the team here – we have taken on the duty and obligation of due diligence and education in an industry that makes a lot of empty claims. But I digress. I get excited about companies that exist for the same purpose that we do – this industry is in need of some strict accountability – and fast.
So, I registered.
Here’s what I learned: members of DeedQuest have the option of searching different markets for deals, statistics and data, news and are provided links for other resources that pertain to the area they are interested in. They also are able to analyze properties they are interested in using the built-in property analysis tool, which allows them to calculate potential return on investment and cap rates for different properties. Members can also participate in forums, search properties and save their searches and listings within their profile.
All in all? Quite impressed. This is a tool that investors would be wise to take advantage of.
I have to admit to being pleasantly surprised with the functionality and ease that DeedQuest offers investors to analyze deals and learn about new investment strategies.
Okay, okay. That, and I’m excited to poke around and learn more about other members.