Hi,
Does anyone have any thoughts/experience with RE Investar? Are there other comparable or better search engines.I've only used it on Demo, but I've heard good things about it. Just like any tool, it comes down to how well you use it, how often and understanding what it can and can't do for you.
Hi Deb
I have been a subscriber to RE Investar for close to a year. There are no other search engines like it. The only things that can compare to Investar are realestate.com, domain and homehound and these websites cant even come close to doing what Investar can do. RE Investar actually searches all these websites and a few others when you perform any search. Currently there are 631,896 properties that can be found through REI
REI has over 30 filters to refine your search. You can perform keyword searches like "renovate" or "develop" or search according to your desired minimum rental yield. Even search for 10% yield properties! At this very moment, if I perform a search for a property with a minimum 10% rental yield I get 52 results!
REI is also in New Zealand and part of the monthly subscription gives you access to perform the exact same searches for properties in NZ.If you want to go to the website you can view a 50-60 minute live webinar that is held once or twice a week. You have to book a spot in the webinar. Alternatively, you can view some pre-recorded demo's that can be found on the same page.
http://www.realestateinvestar.com.au/aw/?a=SP30
Let me know what you think. I know when I first saw it I thought "I have to have it"
Corie
Hi Deb,
I haven't found anything else as good. RealEstateInvesta.com.au is not perfect and has a couple of bugs in it, but nothing else can search by the parameters as this site lets you – I use it to find properties that can be further developed, offer vendor finance and have prices reduced. http://www.realestateinvesta.com.au
Hi Deb2010
I have reviewed it and it is o.k.
You may want to try this site: http://searchinvestmentproperties.com.au/ it allows you to enter your profile and match, sort, compare etc etc etc. very very powerful.
Good Luck
I have just joined part of the site. The search, analyzer and portfolio tracker part. A bit pricey at $790 for 12 months. Has anyone used the the valuer and research parts to the site. This costs an extra $1499! is it worth it?
Hi Jamie
I am currently evaluating Investar for my own use on a 7 day trial.
In answer to your question about the valuer and research parts of the site, it seems they are the SOLO package of Pricefinder.com.au
which is powerful indeed.
You can buy this part of Investar from PriceFinder for the similar price I believe.Overall I like the concept and the search engine but with the amount of bugs and annoyances I have found so far whilst using it I personally don't think it is value for money at this time and I think they need to try a bit harder to make the product better value for money.
I just got the feeling that it was released to early to the market and that the consumer is funding the R & D to finish it off.
Also it is not something I want to use 12 months of the year every year at this stage. Maybe at some time in the future.My Pros:
1) An excellent concept for a realestate search engine with the ability to search so many and varied criteria.
2) The population statistic pie chart is a winner.
3) Ongoing free webinar and demos for site functions are good.
4) The time saved in searching for what you are looking for is great.My Cons:
1) The upfront costs are ugly.
2) The monthly fees are expensive given the bugs still in the system.
3) Being locked in for 12 months after trial period at those prices is unacceptable (to me).
4) Dates are not in Australian format.
5) I do not need Analyser or Tracker functions as I have these already in another format and I do not like the idea of that level of personal financial details going offsite (out of my computer) and potentially out of my control at any time.
6) Things you think are included in the prices are not and there is a lot of on-selling like audio podcasts and reports and so on, so you might as well talk to residex or terry ryder or price finder etc etc.
7) Having to sign up to a free trial with my credit card before I can access anything. ( Normally this smells to me like a scam)One thing I do not know is the accuracy of the information or how updated it is.
I do however think it is worth trying out to see if it suits you versus the money paid versus the value of your time etc
Only you can make the final decision, just make it an informed one.
WorkingOnIt, you've definitely got a good feel for how Investar works.
A few bits of extra information that will clarify some of your issues:
The upfront costs are waived if you purchase via a registered Real Estate Investar partner. Your membership fee will also include free access to the reports and podcast.
As Investar is sourcing it's data from other websites, the information it shows is only as accurate as the data inputed. For example, if a real estate agent makes a data entry error listing a property, then that incorrect data is picked up by Investar and used for it's figures and statistics. This can sometimes look like a bug to the end user of Investar.
After your initial 7 day trial period before any payments are processed, you also then have a 30 day change of mind, no risk, money back guarantee.
A cost of $790-$948 for a 12 month period is excellent value if it saves you time and effort. If you conservatively value your own time at $15 per hour, you only have to use Investar for 1 hour a week to get value from it.
If for example you purchase a cashflow positive property using Investar and that property creates $20 a week positive cashflow, then your annual membership cost is more than covered. And that's before you start looking into other strategies such a sub-division, renovation, strata titling etc.
Put these two example together and you've got an even better deal, and that's only looking at one property.
There are known issues regarding dates in the Portfolio Tracker and My Knowledge parts of the website and these are being looked into.
It's a personal preference if you were to use the Analyser and Tracker parts of the website. Some people understandably like to keep this information to themselves, other like being able to access that kind of data at any time and place just by logging onto the website.
I hope this gives you a better understanding of our products and the purchasing process.Please don’t hesitate to contact me if you require any further information.
Thankyou Corie
I value information I receive on any of these products.
I haven't given up on the idea of trying it again in the future.
No worries Workingonit, glad I could provide you with some good info.
If and when you decide that you would like to have another look send me an email and I can see that any joining fee's will be waived or if you have any other questions just let me know.
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