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Opinion Editorials

FLIPT: real estate ROI beta app a flop so far?

(Editorial) FLIPT is a new app that has launched in beta, and it appears that the ROI tool has a lot of room for improvement.

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FLIPT launches – let’s take a look

FLIPT promises to be your go-to app for “Connecting Property ROI Insights with Realtors and Investors.” The app that will – according to their website – allow you to “Discover the best “Fix and Flip” and other Real Estate investment opportunities, including calculated ROI, recommended “fixes,” and suggested suppliers and agents.”

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As far as I can tell, FLIPT is nothing more than an App that lets me:

  • Write down the address of a house
  • Write down what I think the actual purchase price will be
  • Write down what repairs are needed and how much they will cost
  • Write down how much it could sell for after all of the fixes

While “There’s an App for that” has been a fun little saying for the past few years, I have unfortunate news for the folks at FLIPT: I have a pad of paper and it does the exact same thing. If I’m feeling fancy I can use a word processor to write a report and a spreadsheet to show some calculations – both marvelous inventions that date back to, oh I don’t know, the 1980s?

Adding value elsewhere?

If FLIPT was adding value somewhere along the way – and perhaps they are, and I just didn’t have access to the full program or they aren’t in my local market (San Franicsco, CA) – it could make for an interesting product. But as far as I can tell, it’s a glorified book report writer, a book report writer that requires you still read the book, take the notes, decide what the important points are and write the report.

But once you’ve written that book report, it’s happy to add your picture, phone number, and email address, and then email it to anyone you want.

The value a Realtor brings to investor clients interested in flipping a property isn’t in the presentation of a pretty report with a bunch of hypotheticals. The value a Realtor brings to this situation is local market knowledge that allows us to see an opportunity the rest of the market is overlooking, and to help our clients move quickly so that they can capitalize on that unrecognized opportunity.

The verdict

I can see nothing in the FLIPT app that might make it easier for a Realtor to identify unrecognized opportunities. No heat maps, no big data analysis, no neighborhood demographics, no historical trends, no guaranteed pricing from contractors (although it does have a “Get Bids!” button that didn’t work for me), no local “inside scoop” about upcoming changes to neighborhoods, local zoning laws, building ordinances, or anything else.

Successful “flippers” in my experience are either in the right place at the right time, or they have identified a pattern unique to their local area that they are able to replicate on a regular basis with contractor’s that do good work for them at reasonable prices.

Pretty book reports don’t get you a property for under market value, don’t guarantee good work by contractors, and don’t guarantee you’ll get the sales price you are aiming for. And that’s the end of my book report about FLIPT. Which I had to write all by myself.

Matt Fuller brings decades of experience and industry leadership as co-founder of San Francisco real estate brokerage Jackson Fuller Real Estate. Matt is a Past President of the San Francisco Association of Realtors. He currently serves as a Director for the California Association of Realtors. He currently co-hosts the San Francisco real estate podcast Escrow Out Loud. A recognized SF real estate expert, Matt has made numerous media appearances and published in a variety of media outlets. He’s a father, husband, dog-lover, and crazy exercise enthusiast. When he’s not at work you’re likely to find him at the gym or with his family.

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2 Comments

2 Comments

  1. Hotel Internet Marketing

    January 14, 2014 at 4:54 am

    Well “FLIPT is nothing more than an App”, that’s for sure, thanks “MATT FULLER” for the information about the post…

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Opinion Editorials

The offensive myth of getting laid off being a blessing

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There’s an age-old trend in news to look for rags-to-riches stories. People love to hear about someone who’s down on their luck scraping together a genius idea and, through sheer grit (it seems), finding the motivation to finally strike out on their own and realize their dream.

Stop me if you’ve heard this one: Person X is laid off from their long-time but unfulfilling office job, say at an oil company in Alberta, or a marketing agency where their good ideas are consistently shot down.

What seems like a situation to for despair is actually an opportunity in disguise— see, with their newfound freedom Person X has the ability to fully commit to their small business pipe dream.

In fact, the story goes, getting laid off was actually the best thing to ever happen to this person.

This story is a myth.

Although I don’t want to discredit anybody who has had the willpower, luck, and resources to succeed at launching their business, there are many people who are laid off who are truly in critically terrible times.

The insidious underlying message of this myth is that anybody who is truly devastated by being laid off is being weak or lazy.

It serves to alleviate the guilt of those who may have survived the lay off themselves; it helps organizations justify the fact that they might have had to let an otherwise good employee go for their own, corporate-level problems.

The characteristics that many of these laid-off-turned-successful-entrepreneurs have in common are the same sort of privileges that many take for granted – health, youth, a personal support system to help keep the lights on, and an established network of people that can be turned into a market of clients.

What happens to the many workers who are victims of ageism when they are laid off in favor of younger, less expensive workers?

What happens if you’re laid off and you can’t use your newfound time to work on your business plan because you’re raising young children?

The entrepreneurs who find opportunity in being suddenly jobless were probably already on their way to striking out on their own, with their being laid off acting as the defined starting point for a plan they might not have known was forming in their heads.

If you, a friend, or a colleague have the unfortunate luck to be laid off, don’t let this myth get under your skin.

It’s okay to have a rough time with a huge life event that is absolutely terrifying and difficult.

Hang in there.

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Opinion Editorials

3 things to do if you *really* want to be an ally to women in tech

(EDITORIAL) Diversity is known to strengthen the overall performance of a company and its teams, and there are a number of ways you can be an ally to the talented women already on your workforce.

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More and more women are leaving their positions with tech companies, citing lack of opportunity for advancement, wage gaps and even hostile working conditions as some of the reasons why.

What’s better for the tech industry and its employees than cultivating inclusive and diverse departments? Diversity is known to strengthen the overall performance of a company and its teams, and there are a number of ways you can be an ally to the talented women already on your workforce. To name a few:

1. Be open to listening to different perspectives.

It can be awkward to hear so many reports of workplace politics stacking against women, especially if you’re not a woman!

Instead of getting uncomfortable or defensive – ask open ended questions and be interested in a perspective that isn’t yours and may be unfamiliar.

Don’t seek to rationalize or explain the experiences you’re hearing about, as that can come off as condescending. It’s common for women to be interrupted or spoken over in team gatherings. If you notice this happening, bring the conversation back to where the interruption began. Offering your ear and counting yourself as responsible for making space will improve the overall quality of communication in your company.

Listening to and validating what women have to say about the quality of their employment with a company is an important step in the right direction.

Expressing something as simple as “I was interested in what you had to say – could you elaborate on your thought?” can help.

2. Develop an Employee Resource Group (ERG) program.

An ERG is a volunteer-based, employee-led group that acts as a resource for a particular group of employees. An ERG can help to foster inclusiveness through discussion, team-building activities and events. It’s common for a department to have only one or two women on the roster.

This can mean that the day to day feels disconnected from concerns commonly shared by women. disjointed it might feel to be on a high performing team, without access to relatable conversations.

3. Be responsible for your company’s culture.

Chances are, your company already has some amazing cultural values in place. That said, how often are you checking your own performance and your co-workers performances against those high standards? Strong company culture and values sound great, but whether or not they’re adhered to can make or break the mood of a work environment.

Many women say they’ve experienced extremely damaging and toxic cultural environments, which lead to hostility, frustration, and even harassment. Take action when you see the new woman uncomfortable with being hit on at team drinks.

Call out those who make unfriendly and uncouth comments about how women perform, look, or behave.

Setting a personal threshold for these kinds of microaggressions can help you lead by example, and will help build a trustworthy allyship.

(This article was first published here in November, 2016.)

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Opinion Editorials

How the Bullet Journal method has been hijacked and twisted

(EDITORIAL) I’m a big fan of the Bullet Journal method, but sticker-loving tweens have hijacked the movement. Worry not, I’m still using black and white bullet points with work tasks (not “pet cat,” or “smile more”).

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It’s taken me some time to come around to the Bullet Journal method, because it took me some time to fully understand it (I have a tendency to overthink simplicity). Now that I understand the use, I find it very beneficial for my life and my appreciation for pen-to-paper.

In short, it’s a quick and simple system for organization tasks and staying focused with everything you have going on. All you need to employ this method is a journal with graph or dotted paper, and a pen. Easy.

However, there seems to be this odd truth that: we find ways to simplify complicated things, and we find ways to complicate simple things. The latter is exactly what’s happened with the Bullet Journal method, thanks to creative people who show the rest of us up.

To understand what I’m talking about, open up Instagram (or Pinterest, or even Google) and just search “bullet journal.” You’ll soon find post after post of frilly, sticker-filled, calligraphy-laden journal pages.

The simple method of writing down bullets of tasks has been hijacked to become a competitive art form.

Don’t get me wrong, I like looking at this stuff because I dig the creativity. But, do I have time to do that myself? No! For honesty’s sake, I’ve tried just for fun and it takes too much damn time.

With this is mind, this new-found method of Bullet Journaling as an art is something that: a) defeats the purpose of accomplishing tasks quickly as you’re setting yourself back with the nifty art, and b) entrepreneurs, freelancers, executives, or anyone busy would not have time for.

Most of these people posting artistic Bullet Journal pages on Instagram are younger and have more time on their hands (and if you want to spend your time doing that, do you, man).

But, it goes against the simplistic method of Bullet Journaling. The intent of the method.

And, beneath the washi tape, stickers, and different colored pens, usually lies a list of: put away laundry, feed cat, post on Insta. So, this is being done more for the sake of art than for employing the method.

Again, I’m all for art and for people following their passions and creativities, but it stands to reason that this should be something separate from the concept of Bullet Journaling, as it has become a caricature of the original method.

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