This guide will quickly get you acquainted with REFocusMaps so you can stay focused on investing!
The Map page is where all the action happens. Here you can search for a particular property or search by city with the search bar in the upper left hand corner. After searching, REFocusMaps will pull up all active, pending, and sold properties (within 3 months by default) within a mile and a half of your search location. You can also drag the map around and REFocusMaps will automatically search for properties wherever the map is centered.
Properties will then appear in both the table view on the left and the map view on the right. Within the table view, you can sort properties by Address, Beds, Baths, Square Footage, Price, or Sold Date. Properties that have not been sold yet will have a sold date of ‘N/A’
On this page you will also see buttons on the upper right labeled ‘Quick Comp’, ‘Visualizations’, ‘Filters’, and ‘Save Map’. We will get to those in just a couple minutes.
Once the properties have loaded, you will be able to select properties by either clicking on the circle marker icon on the map view, or by clicking on the table row. Properties, once selected, will be highlighted and the Quick Info view will pop up in the table.
The Quick Info view will display critical information such as pictures, beds, baths, sqft, year built, listing date, list price, etc. Text with a dotted underline will display more information if you hover your mouse over them. For example, if you hover your mouse over the List Price, you will see a tooltip displaying the list price per sqft. Using this view, you can also Google search a property by clicking the magnifying glass button, favorite a property by clicking the heart button, and, if needed, see more information about the property clicking the ‘More Info’ button.
Favorited properties will be added to your favorites list. You can view all of your favorited properties by clicking on the Favorites tab in the table view. Favorited properties will also be highlighted by an arrow marker on the map view.
Under the Stats tab in the table view, you will be able to view important information about your market such as average list price, average sale price, average days on market, etc. REFocusMaps will also automatically calculate this information, for your list of favorites. This makes it exceptionally easy to calculate after repair values (ARVs) for a particular property.
To easily calculate the ARV for a particular property, simply search for that property using the search bar. Then, after the properties have loaded, search for good comparable properties that have already been fixed up and favorite them. Once you have found and favorited a handful of good comparable properties, REFocusMaps will calculate the average sale price of your favorites. This number can be used as your ARV.
(P.S. A more in depth tutorial about how to find good comparable properties and how to calculate ARVs is coming soon!)
The new Quick Comp makes finding comparable properties faster and easier than ever before.
To open the Quick Comp feature, simply click on the ‘Quick Comp’ button on the Map page. Once open, all you have to do is fill out some information about the property you are trying to find comparable properties for. Empty fields will be ignored.
Once you have filled out the form, just click ‘Find Comps’. REFocusMaps will use the provided information and automatically filter out all irrelevant properties and only show you properties that are similar to your target property. If you don’t see any properties, that just means our search algorithm may have been a bit overzealous. To adjust the search parameters, click on the ‘Filters’ button and tweak the search constraints to your liking (more on Filters later).
To utilize Quick Comp you must subscribe to the Quick Comp feature on the subscriptions page.
Visualizations are the best way to learn about a new market or to keep your finger on the pulse of your current market.
To open the Visualizations feature, simply click on the ‘Visualizations’ button on the Map page. Once open, select which property attribute you would like to visualize, such as Close Price or Sqft, then select the color scheme. Properties will then be color coded on the map view according to the attribute value of that property.
If you like to flip properties built in the 1970s, you can color code properties based on year built and target neighborhoods built in that year range. Or if you like to flip ranch style houses, you could color code properties based on architecture style and target neighborhoods consisting of primarily ranch style homes.
The Visualization feature is also extremely helpful for finding higher or lower priced neighborhoods. Just select close price for the field to visualize and similarly priced properties will be a similar color. This makes choosing target neighborhoods to work in easier than ever before.
To utilize Visualizations you must subscribe to the Visualizations feature on the subscriptions page.
REFocusMaps has many different ways to filter out properties so you can focus on what matters and not be distracted by properties you don’t want to see. To utilize Filters, click on the ‘Filters’ button.
The Active Filters section will list any currently active filter and allow you to remove or edit that filter. The Quick Filters section allows you to quickly and intuitively filter out properties based on the most critical fields, such as listing status, for sale or for rent, price, beds, baths, sqft, etc. Under the Advanced Filters section, you can further fine tune your search by applying filters based on location, school district, ownership status, and much much more.
To utilize Advanced Filters you must subscribe to the Advanced Filters feature on the subscriptions page.
Now that you have favorited some great comparable properties, or put together some visualizations for market analysis, you want to save your progress right?
By clicking on the ‘Save Map’ button, you will be able to save your map and all of your settings so you can come back to it later. All you have to do is come up with name for your map and click ‘Save’.
Saved Maps will appear in the dropdown menu when you click the ‘Saved Maps’ button in the toolbar. Saved maps will remember all of your settings (map location, zoom level, active filters, favorite properties, etc) so you can pick up right where you left off with no time wasted.
If you have a saved map open and have made some changes to it, be sure to click the ‘Save Map’ button before you leave the page!
To utilize Saved Maps you must subscribe to the Saved Maps feature on the subscriptions page.