Gary Beasley, Co-Founder and CEO of Roofstock.com: Innovative Technology and a Unique Online Marketplace

Frustrated after an attempt to sell 500 Dallas homes through the traditional broker ecosystem, Gregor Watson, co-founder of Roofstock.com, approached Gary Beasley about building a new system. “When Gregor talked to me about it, I was running a large platform that owned over 10,000 houses, and I got it immediately since I experienced many of the same frustrations,” says Beasley, co-founder and CEO of Roofstock.com.

“You would never vacate an apartment building to sell it; why should you need to vacate a rental home when there are plenty of investors out there for whom the immediate cash flow should be a benefit? When we explored the concept more thoroughly and realized the extent of buy-side demand for this product, properly packaged and presented, we knew we were onto something!”

Thus was born the idea for Roofstock, an online marketplace created exclusively for investing in leased single-family rental homes that generate cash flow from day one. Designed by investors for investors, Roofstock provides research, analytics and insights to evaluate and purchase independently certified properties.

roofstock

“Roofstock caters to institutional and individual investors, both domestic and global,” says Beasley, who launched the site and app this year. Real estate professionals can use Roofstock with their clients by registering them on Roofstock.com, and earn referral fees when the clients buy properties through the online platform.

Beasley notes the unique quality of this online marketplace, stating, “Roofstock specializes in leased homes that are already producing cash flow, not vacant properties like most sites. The site is specifically designed to allow investors to buy investment properties sight-unseen, which allows investors equal access to information on a property whether they are across town or the world.”

Heavily involved in the investment market, Beasley is uniquely positioned to be at the forefront of trends in the industry. “I’m seeing a number of commercial real estate investors taking note of the fact that nationally, all real estate sectors except housing are trading at new peak values. [Thus, they are] seeking ways to gain exposure to U.S. housing,” notes Beasley. He says, “We [see some] investors selling apartments at record low cap rates and doing 1031 exchanges into portfolios of rental homes.”

He adds, “Another trend I am seeing is that more people are buying investment properties looking to [take advantage of] the short-term rental market via Airbnb or HomeAway. Doing this offsets some of the carrying costs while still allowing the properties to be used for personal use.”

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