InvestingRentals

Hubzu partners with RentRange to display rental income estimates

Investors can use the information to craft an appropriate bid
  • Hubzu has teamed with RentRange to offer estimated potential rents for investment properties.
  • Hubzu says the integration allows investors to easily pinpoint appropriate bid amounts based on their desired target returns.

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Ever had a client ask you how much that investment property could potentially earn in rent?

Real estate auction marketplace Hubzu will now give investors low, median and high estimates of potential rental income.

To provide the estimates, Hubzu is integrating with RentRange, a provider of market data and analytics for the single-family rental industry.

Hubzu’s parent company Altisource, a service provider to mortgage lenders, investors, mortgage bankers, credit unions, financial services companies and hedge funds, snapped up RentRange in Oct. 2015.

The Hubzu site will pull data from RentRange to identify comparable properties with a one-to-two mile radius and provide the estimated potential rent for each one.

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From there, investors can use that information to determine the appropriate bid amounts based on their target returns.

A RentRange estimate on Hubzu's site.

A RentRange estimate on Hubzu’s site.

“With interest rates at historic lows, single-family rental properties have become a popular asset class for investors seeking higher yields,” said Steve Udelson, president of Hubzu in a press release.

“Hubzu makes it easier for investors to discover and purchase investment real estate through a streamlined and transparent process.”

Hubzu, formerly known as GoHoming.com, is an online real estate sales and auction marketplace that, according to the company, has facilitated the the sale of more than 149,000 sales.

Buyers who use Hubzu pay a $299 technology fee along with a “buyer’s premium” that ranges from $625 to 5 percent of the properties’ value.

The RentRange integration is the latest in a series of moves the company has been making over the past few months.

In August, the company announced the addition of pre-auction listings, which allow buyers to research properties before an auction, and FHA rehab financing on qualified homes, which allows investors to bundle the listing price and renovation costs into a single mortgage.

Email Marian McPherson