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-- -- -- -- next guest is the man Wall Street sense do and they want the very latest on rents in cities across the country to see well if properties are worth.
Joining us now -- shot -- he is founder and CEO of rents range which -- seen revenue jumped by the way by 19100%.
In just the past two years reason to smile Wally and thank you for joining us we appreciate it.
OK so let's get right to -- what exactly does your company do and how did you come up with the idea.
When we provided rental.
Market and rental property analytics so we can evaluate what's going on the market from rental perspective -- how strong is that mark -- rents be able vacancy rates be.
Is a good area to buy a piece of rental property.
And then we can also evaluate individual properties and say what will the -- -- for that individual property Woodson vacancy rate can be.
Has a property of reform is -- a stable -- did.
Are there -- first -- in come suitable for the area just a lot of information to determine if it's a good property within a good market to purchase.
And we came over the idea because really for the last.
How long long long time more than 10% of that housing stocks in the -- hasn't sat in this country has been single -- rentals so.
It's -- a lot of attention from Wall Street and it an institutional investors as the last few years but it's really been a big part of our market for a long long time.
And those heeled customers the institutional.
Folks and then what -- hey I mean it's this I mean you know what kind of money you make on that information.
Our clients -- be anywhere between six dollars for single zip code or twelve dollars for an initial addressed to you.
50000 dollars for five years worth of historical data and and when -- move forward.
And hundreds of thousands dollars towards addresses and at a much lower per address price it's amazing do you have a lot of competition in this marketplace.
Really don't have any competition they can keep that can do we do you like we do it.
-- we've been doing it for the longest we have the largest and most well scrubbed -- single family rental database.
So are the only ones that I know of with enough rental data -- single from a rental data to be able to run the analytics that we can run.
We just have the most experience so we've been doing this for a little over six years of before.
Wall Street and he was paid attention that market we learned how to get it right -- -- market itself.
Haven't seen anybody really come up on our heels yet it's interesting and and I was looking through your notes you also factor in whether tenants have dogs or -- -- she really get down.
To the nitty gritty -- it.
-- well actually what we do is is we get to a normal or par rants.
Taking a rented our database and normalizing out.
Credit risk and had -- smokers in different premiums or discounts have been applied to the rents and our database.
To be able to tell our clients with a par -- would be for a marketer for a property.
So what trends have you seen Wally as we do this day special role you know -- daylong special -- real -- what -- you seeing from your perspective.
Well a lot of a lot of -- moving into the market obviously it's got a lot of velocity lately with the institutional investors moving in.
And certainly by substantial amount homes.
One of the -- really positive trends we've seen as a lot of displaced and distressed homeowners would like to stay in their neighborhoods and -- keep their kids in the school system that they're currently and and institutional investors are providing good housing inventory for them to -- and stay in suburbia instead of moving.
Back in -- multifamily dwellings.
We're also starting to see -- really big -- between multifamily behavior in single family behavior so there's actually.
Markets where there's an inverse relationship between single family homes and multifamily homes to say that.
One rent -- -- ones -- will be going up we're right markets -- will be going down.
You say investors have a positive effect on home prices but -- -- trying to get you know everything they can hit rock bottom prices.
You know -- they don't really have to because you know they're looking at cash flow markets where's the rents.
Can give them positive cash flow even if they're playing close to par for the properties so.
Most times they're looking for discounts it's because there's going to be a capital expense to get that property -- -- in back readying to good condition for -- -- rented.
So in -- markets across the country you can provide good quality rental property without having to get -- deep discount on the purchase price very good fascinating stuff thank you so much Wally yet shut off with the -- full range very interesting indeed thank you.
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