Data-driven product owner / product designer / UX designer / product manager / entrepreneur.
Focusing on sustainability - of designs, of systems, of the environment.
Paper Property helps private real estate investors source, analyize, and plan the acquisition of their off market real estate investments. Unlike Zillow and Trulia, Propertied focuses primarily on the numbers of a deal.
Before Paper Property, real estate investors found their deals off of places like Craigslist and through private emails to one another. Many deals got lost with ineffective marketing efforts, and profitable deals went undone...
The lack of standardization meant that each investor had to develop their own system to keep track of deals sent around by email, sometimes receiving the same deal with two different prices. Investing was moreso a game of operations design than of real estate expertise.
Propertied functions as the one place for private investors to advertise their off market deals directly to one another, just as agents market theirs to primary homeowners on Zillow or Trulia.
The lack of standardization meant that each investor had to develop their own system to keep track of deals sent around by email, sometimes receiving the same deal with two different prices. Investing was moreso a game of operations design than of real estate expertise.
Propertied functions as the one place for private investors to advertise their off market deals directly to one another, just as agents market theirs to primary homeowners on Zillow or Trulia.
The Design Process
The challenge
todo
Existing products
List of existing competitors
Personas
Primary persona(s) - two sided marketplace
- buyer - sellerSecondary persona(s)
- deal manager - marketerCurrent investor workflow
Most private real estate investors I surveyed follow this flow of logic when working through their off market deals.
- What is the location?
- Match of primary criteria, which could be any of:
- type of deal
- price range
- availability for increase in value
- Does the secondary criteria match well?
- Due diligence
- View property
- Additional due diligence
- Prepare deal logistigs
- repair estimate
- secure funding
- Make initial offer
- Negotiations with seller(s)
- Set up deal closing
- Complete deal closing
- Manage investment, which could be for example:
- repair the property
- rent out the renovated property
- sell the renovated property
Triggers of use / App entry points
Below is a list of the most common motivations a user would have to come back into the app.
Now that we know what goals a user may have, we can deduce what common objects and features we may need to build.
- to find a new deal
- to check the status of an existing deal
- to sell a new property off market
- to review old deals
- to analyze old deals for trends
- to view a deal sent by another user
- research property they found in real life
- research a given address
- search and filter deals in a given neighborhood