When doing the real estate business, you are going to be dealing with big data, day in and day out. That is why it is an advantage to have technology that will help you advance your business. Today, we speak to Sean O’Toole of PropertyRadar and he tells us the power of data in real estate investing.
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Sean tells us about all the data that we have access to but we don’t know about. He also shares his journey in real estate, flipping over 150 residential and commercial properties and then exited the market in 2006, right before the credit bubble burst. Sean used his real estate experience and his tech-savvy to start Foreclosure Radar in 2007, then pivoted from foreclosures to the general real estate market with the launch of PropertyRadar in 2013. Listen now!
Key Points From This Episode:
- Sean shares his background in technology and eventually in real estate.
- What did Sean see in 2005 that led him to stop investing in real estate?
- Why is knowing data crucial in your real estate business?
- Sean shares his takeaways from the 2008 crisis.
- Sean says it is a good time to own real assets versus money in the bank.
- The most important things a real estate investor must understand in terms of public records — County Assessor’s Office, County Recorder’s Office, and GIS department.
- The number one marketing tool in real estate according to Sean — public records.
- How much information in real estate is available online?
- Sean shares how an operator or anyone investing in real estate prepares for a downturn — look for investments versus speculation, use leverage in deals, and cash reserves.
- Sean’s predictions in the real estate market over the next six to twelve months.
- How does Sean like to give back?
“There are few things I saw on the data, there are few things I saw in the field. And I think it’s really important in real estate to marry those two things.” [0:05:01]
“I think it’s a good time to own, despite the fact that this feels very bubbly like 2005, when you have this much stimulus going into the economy, it’s not a bad time to own real assets versus money in the bank.” [0:17:47]
“If you’re in a business of buying properties or if you’re in the business of selling things to property owners, public records should be your number one marketing tool.” [0:23:07]
“The number one is I always look for investments versus speculation.” [0:25:28]
“The only way you lose money is, you don’t have patience. You don’t have the financial ability to be patient.” [0:26:55]
Links Mentioned in Today’s Episode:
About Sean O’Toole
After a successful technology career in Silicon Valley, Sean purchased and flipped over 150 residential and commercial properties. He exited the market in 2006, right before the credit bubble burst.
Combining his technology and real estate experience, Sean launched ForeclosureRadar in 2007. ForeclosureRadar was quickly recognized as the nation’s best foreclosure information source, growing to help tens of thousands of real estate professionals prosper in an otherwise devastating market.
In 2013, Sean launched PropertyRadar, expanding beyond foreclosures to create a property data and owner information platform that powers thousands of investors, real estate professionals, home service, and other property-centric businesses. More than just a data company, PropertyRadar levels the playing field by giving small businesses the same opportunities found in public records that big businesses have long enjoyed.
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