Roofsavvy | Roofstock Asset Management App
Roofstock is an exclusive online marketplace for investing in tenant-occupied single-family rental homes that generate cash flow from day one. Our intuitive platform and world-class support team remove the stress from buying, selling, owning and managing investment properties.
In October of 2016, Artem Skripka (Sr Product Manager) and I were tasked by the CEO of Roofstock to develop a prototype for a mobile application related to real estate asset management, as part of a business strategy to raise a new round of funds for the company. At this time Roofstock had a marketplace experience for users to buy and sell real estate assets as investment properties. But we didn’t have a post-buying experience where we can keep investors engaged.
Six weeks later we delivered a fully-defined product experience, along with a demo prototype of a mobile app, around the concept of allowing investors to monitor, analyze and plan based on actual financial insights of their properties. This initiative allowed the company to raise 20 million dollars in their series B round of funding.
Also, this new experience will allow roofstock to bring new users into the platform, who are currently holding investment properties, which will eventually Roofstock supply and create a vibrant marketplace
This PDF will take you to a brief walkthrough of the product discovery process this initiative went through http://3675design.com/projects/09-roofstock/Roofsavvy-procces.pdf
Phase #1: Aside of providing this app to any investor who buys property through the Roofstock marketplace, we proposed to partner with existing property managers to onboard homeowners to the app for free, which will bring us valuable insights and potential sellers to increase our supply. We’re currently in the process of onboarding 10,000 users through two of our partners.
- Notifications and alerts
- Monthy reports on key financial metrics such as cash flow, gross yield, return and appreciation
- Repository of key information about the properties: loan information, property management contact information, lease, and tenant information.
Phase #2: Allow anyone who is self-managing their investment to use this product, as a way to oversee their financial performance of their assets.
- Real-time reporting
- Budgeting and planning