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Michelle Aknin
Hello everyone, I am new to CFD. I have done a little bit of real estate investing. But not very much at all and I really haven’t been too successful at it either. I lost my properties during the 2008 economic downfall but I hope that I have learned from my mistakes and things will be different this time. Fear has really held me back from many years now. But my husband and I are growing closer and closer to retirement and we’ve raised our six kids so it’s time to jump back in. We have always felt that real estate could be a a great vehicle to achieve a good cash so we can payoff our debt and start a good solid cash flow so we can retire. I do hold my RE license for the state of Colorado. But I feel being an investor would hopefully be a better way to achieve our goals.
I was wondering if anybody has heard of realeflow.com , It’s a company that gives you tools so you can manage real estate investing? And if anyone has any thoughts about the product? If it is something that I should start off with or I wait off till I start making some money?
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Michelle, even without any past familiarity with RealEflow.com, I can spot some problem issues on their homepage — before running a search for reviews on them.1. They’re clearly in the business of selling you leads – up to 1,000 a day if you can process that many. What they don’t say is how many hundreds or thousands of other people are getting those same leads. That can make the productive response rate you get extremely low — and expensive. In contrast, the CashFlowDepot body of knowledge can teach you how to create your own private list that will be vastly more productive, and it can be tailored to exactly the kind of deals that can work for your stage of expertise, your risk tolerance, and your interest.
2. One of their homepage bullet points is: “DEAL ANALYZER — You tell us what you know, we tell you if it’s a good deal.” That is highly ambiguous. Are they asking what details you’ve unearthed so far about the deal, or are they asking what your expertise, interests, risk tolerance and resources are, or both? What might be a reasonable deal for one person might be highly unreasonable for the next. Assume that issue is a big red flag until serious due diligence is exercised.
3. Another bullet point says: “HAMMERPOINT — Repair estimates and rehab plans without the contractor.” First, CashFlowDepot discourages all but the most experienced people from doing rehabs because of the great risks, and because such projects take a LOT of time that could be much better used doing many non-rehab flip deals with very low risk — and almost no cash out of your pocket. Second, why would anybody discourage you from relying on a contractor’s hard-won expertise, including current cost knowledge, to arrive at repair estimates. Their bullet point makes no sense.
4. Yet another bullet point says: “POWER MATCHING — Match buyers and sellers with a single click.” That is a guarantee that you won’t find the buyer who’ll pay the most. CashFlowDepot can teach you how to get multiple buyer-wannabees bidding against each other.
If you run a search on DuckDuckGo.com on the phrase REVIEWS OF REALEFLOW.COM, you’ll pull up lots of discussions, both pro and con. You’ll find people who think their CRM capability is not up to snuff. You find people mentioning that the employee turnover is high, and that those who don’t blend in with the owner’s church culture … don’t last long. One reviewer who was a past employee said that all employees start out with the job title of “contractor.” That sounds highly weird.
There were lots more reviews I didn’t read, but you can if you’re still interested. Basically, RealEflow.com encourages a much different, much higher risk, and much heavier cash-required system than what CashFlowDepot teaches and practices. You probably have enough info here to make your decision, but feel free to dig into as many pro and con reviews as are scattered all over the net.
–Dee
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