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 market place 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 track the performance of these real estate assets as they would with their stock portfolio, allowing investor to monitor, analyze and plan ahead 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.
As part of the product strategy we pitch, we suggested the following:
Phase #1: Aside of providing this app to any investor who buys property through the Roofstock market place, 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.
Phase #2: Self-manage: Allow anyone who has an investment property to use this app to manage their assets from a financial standpoint.
The Results – It was a success
Once we launched the new redesign, we saw an increase of 4X in traffic, with a lot of referral and organic search traffic.