General Flashcards
What is Roofstock?
Roofstock is the leading marketplace for investing in single-family rental homes.
What is Roofstock’s goal?
Roofstock’s goal is to make real estate investing accessible, cost effective, and simple — as simple as stock market investing.
How is Roofstock accomplishing its goal of making real estate investing as simple as stock market investing?
Traditional real estate investing has significant friction on both the acquisition side and the asset management side. Roofstock uses (1) technology and (2) institutional quality, scaled investment platforms to (A) reduce the acquisition friction and (B) separate investing from operations. When you do that, it transforms the way single family investment properties can be traded and opens up the market to a whole new set of potential investors.
What are the 5 key investment selection criteria for a traditional venture capital investor?
- Founding team (background and expertise in product/market)
- Market opportunity (large and growing market, few competitors)
- Competitive advantage (clearly defensible technology or IP)
- Customer traction (demand from or adoption by paying customers)
- Need for capital (ability to scale growth with funding)
What are the 5 key investment selection criteria for YCombinator / Paul Graham?
- Make something people want (best if you want it yourself)
- Do things that don’t scale (use manual processes to get started)
- Show early traction (such as landing page signups, content views)
- Pick a metric (revenue, paid users, usage/engagement)
- Have passion for your idea (resilience in the face of failure)
Who were the founders of Roofstock?
Gary Beasley, Gregor Watson, and Rich Ford
What does Roofstock’s platform do?
Our platform let’s everyone — from first-time investors to institutional asset managers — evaluate, purchase, and own residential investment properties with confidence from anywhere in the world.
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From the economist
What profit margin did Rich Ford suggest was typical on a SFR portfolio?
55%, which may trend up [to 62%, for example] in the pro forma when assuming rent growth alongside more fixed expenses such as taxes/insurance
What range of cap rates are SFR portfolios currently trading at?
Roughly 4-6%, depending on market
What is a good benchmark for number of offers sent by an SFR acquisitions analyst each month?
300 offers per month (75 per week)
What is a good benchmark for number of contracts signed by an SFR acquisitions analyst each month?
30-45 contracts (a 10-15% offer conversion rate)
What is a good benchmark for number of completed closings by an SFR acquisitions analyst each month?
25 closings per month
What is a good contract-to-closing conversion rate?
Should be over 70%
