As market fundamentals experience a shift in 2017, it has become more challenging for multifamily investors to source good deals. These dynamics require investors to be more prudent and have a crystal-clear picture of their investment to ensure it meets their pro forma. When multimillion dollar assets are on the line, more firms are turning to InfoTycoon to gain insight during the due diligence process. In July 2017 alone, InfoTycoon’s inspection platform was used to evaluate 125 assets valued at approximately $3.5 billion. The firm currently works with 120 multifamily clients, including 4 of the 5 largest managers. From increased efficiency to configurable reporting, the benefits of leveraging InfoTycoon have clients raving about their experience and referring to the platform as ‘game changing’.
“Using InfoTycoon is one of the best decisions Lincoln Property Company has ever made,” shared Carol Winfrey, Director of Due Diligence at Lincoln. “I've been utilizing InfoTycoon for the past year and my work life has been completely transformed from being bogged down in creating reports and entering numbers from interior walks into excel spreadsheets to enjoying real time reporting, instant results, shorter due diligence time, and a more professional due diligence report for our clients.”
InfoTycoon’s easy-to-use mobile app allows teams to efficiently walk units, accurately capture asset conditions, evaluate building interiors and exteriors, calculate renovation costs, take photos, make comments, and do so much more. Using InfoTycoon, clients have reported saving up to 75 percent of time versus traditional paper-based inspections. Best of all, InfoTycoon provides real-time access to insightful reporting which empowers investors to feel far more confident in their investment decision.
Another powerful way investors and managers are gaining insight during due diligence is through InfoTycoon’s leading Lease File Audit product. With InfoTycoon, firms can automatically import rent rolls to quickly identify lease and security deposit variances, as well as understand key resident demographic information. One of the product’s biggest champions is Alliance Residential, who identified $1.4 million in uncollected rental income and saved 3,000 hours of time annually.