When you are driving around town, you sure are getting a point of view that many with the ultimate interest in the property could find useful! We have all become very familiar with Uber, as the app that allows you to summon a personal taxi quickly through your phone has become a nationwide phenomenon.
A couple in North-Carolina that runs a home flipping and rental business spanning 20 states has recently taken notice in a major way regarding the value of “eyes on the ground” from Uber drivers for viable properties. When Krystal Polite first mentioned the benefits of tech startup Dealmachine to her husband last year, he just was not particularly interested.
Krystal had gotten word from another trusted investor in the area that he was using Dealmachine's app to acquire new properties, and the results were stunning. After patiently working through the ropes for about six months and analyzing the various data that was coming their way, their company had successfully generated hundreds of thousands of dollars from transactions that originated with Dealmachine.
Dealmachine launched in 2017 and ran on a very new type of premise: they had come to the conclusion that those who were already spending lots of time driving around would be prime scouts for real estate investors. When drivers out and about noticed properties that they thought would be suitable for investors, they take a picture and pin the location in Dealmachine's app.
After that, the company's software kicks in, using many layers of data to identify the property owners and ask if they had ever thought of selling. The results have been about 96 percent accurate so far, and Dealmachine CEO David Lecko claimed that “You just have to tap a button and it will send a letter, with the option of fully customizing it if needed”.
Dealmachine works directly with real estate investors, who now pay an average monthly fee of around $49 for the service. Those investors then have the opportunity to procure their own drivers and compensate them any way they wish. Even though some deal finders only are pinning a few properties a day through avenues such as Uber, one man who drives a gas company truck for a living typically flags between 5 and 600 homes a week, which earns him a lucrative second income.
Communities such as Houston and Atlanta that have a very large amount of real estate investment opportunities are experiencing an extreme uptick in popularity, and the upward trend of the company overall is highlighting just how much the “gig economy” has really grown. Some investors are plugging in so much capital to find viable flips that this is one new way for them to get creative, and utilize the efforts of those who are already out in the field for other reasons.
In an age where much success has been built off of the backs of independent contractors, this is one interesting niche where a few savvy types can “double dip” and benefit from the situation their employer put them in. There are other players out there within the investment realm such as Dorrmat.com that are on the scene to provide sensible owners a cash offer for their property, other amenities such as moving and short-term stay facilities, as well as the alleviation of time-consuming activities such as the weekend home showing.
Scouts on the ground that are driving for Uber are certainly a great asset for those looking for investment properties. It is most likely one of the savviest ideas ever to employ those who are already behind the wheel to scope out possible homes for sale: seeing what types of criteria a property meets is definitely best carried out by a courier who is up close and personal!