The real estate investment world is on the precipice of a major upgrade. And it couldn’t come soon enough.
Up until recently, the majority of investors would rely on old standbys such as direct mail, cold calls, yard signs, local meetups, and Facebook groups to identify the right properties to purchase for resale. Although these methods have merit, they’re also extremely inefficient and time-consuming, increasing the investors’ costs and requiring extra manpower. For investors wanting to take their businesses to the next level, such downsides become even more problematic.
Josh DeShong, a real estate investing veteran passionate about the business, knew the system had to change.
“These channels are fragmented,” says DeShong, “Worse yet, they’re not cost-effective to scale. Direct mail is wasteful and expensive. Cold calling is even worse. You can find some real gems in Facebook real estate investing groups, but it’s completely hit or miss. And there’s no way to efficiently monitor multiple groups once you get to a certain scale without increasing the size and cost of your workforce dramatically.”
For this reason, DeShong set out to develop Trelly, a software platform that is now transforming the real estate investment industry from low to high tech. With Trelly, the acquisition and disposition process is now totally seamless.
Trelly works as a double-sided real estate marketplace that allows users to quickly purchase and sell properties. Everyone on the platform is there for the same reason, at the same time. It’s strictly B2B, so the general public is not involved.
For example, investors may be looking for properties that fit their “buy box.” With Trelly, the investor can immediately connect with sellers who have properties that match their requirements, from price to location and condition. It eliminates the need to constantly be on the lookout for precisely those deals. Rather than dedicating hours trying to find the right properties, investors simply input their buying criteria. When another user uploads a property that matches the investor’s specifications, they will be notified and the transaction can take place.
Because efficiencies are embedded into the platform, investors are able to expedite the transaction process, from start to finish. It’s similar to the MLS system, but exclusively for real estate investors instead of Realtors. In fact, since Realtors aren’t involved, the standard six percent commission is eliminated. In fact, the company currently plans to provide the platform completely free to all users through at least the end of 2020.
After working as both a Realtor and an investor, DeShong is well-versed in all aspects of the business.
As an investor, he was buying and selling hundreds of investment properties each year. As a Realtor, he was conducting even more transactions for clients.
He knows how challenging and labor-intensive the involved tasks can be, and how they can detract from life outside of work, particularly in the early stages of an investor’s career. DeShong was convinced it didn’t have to be this way, so made it his mission to streamline the procedures with the most advanced, user-friendly technology.
“Increasing your income is always the first step because it gives you more stability and security,” says DeShong. “But I’ve found that most people, once they’ve achieved that, want to do more to help others. They want to create a better life for their employees. They want to contribute to their communities and donate to charities. I want to empower more investors to do that.”
For investors who are eager to take their business from small to huge, Trelly is especially attractive. “It’s all about maximizing your time and results,” says DeShong. “Some investors only want to do a little investing on the side and they don’t care how efficient they are because they aren’t putting in a ton of time. But other investors want to maximize efficiency because they want to scale their business. These are the investors who will get the most out of Trelly.”
Revolutionizing the real estate industry with technology was important to DeShong. Until now, the industry was about ten years behind many others, he says, a problem that was exacerbating existing inefficiencies. Clearly, an overhaul was overdue.
“I’m confident Trelly will solve that problem for investors,” says DeShong. “The time saved can be used to find more deals and scale their business. In doing so, Trelly will help them to scale their businesses. But more importantly, it will also empower them to add value to their teams and communities. It’s a ripple effect.”
The benefits of increasing productivity are obvious and the impact can be profound. The less time investors dedicate to locating properties and the less money they spend on fees, the more they can market their business and bring on more staff. It opens up opportunities for the investor to hire contractors for renovations, pay for landscaping, deal with pest control issues, and upgrade security systems.
After a long and successful career in the industry, DeShong is certain that the real estate industry is ripe for change. Investors are hungry for a tool that will make their lives easier and create higher profits.
“When we help a real estate investor scale, we help so many other people they come in contact with,” says DeShong. “I’m excited about what Trelly can do for investors, but I’m even more excited about how that will impact their families, teams, and communities.”
Opinions expressed by NY Weekly contributors are their own.