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Online Services What is Ripehouse?

Discussion in 'Service Provider Directory' started by, 2nd Nov, 2015.

  1. Active Member

    2nd Jul, 2015
    Hobart and Sydney
    Sea Change requested an intro this morning so I have put together some quick info:

    “BTW , do you think you could set up a thread explaining the logic behind your software and what it does” - Cliff

    Please bare with me :) If you want to jump in and have a play I have included some free trial info at the bottom for Property Chat.

    Ripehouse has been developed as an end to end property search, appraisal and purchase solution. We have been operating since 2011 and always try and remain innovative and ahead of the curve. I have been a long time Somersoft member and made the switch over in July :)

    Whilst I feel our appraisal engine is first class - often in other investment search products the focus is first on the property itself without putting it in context. Context in terms of important things like its growth characteristics, its suitability to demand in the suburb, the street itself and the suburb.

    At Ripehouse we start at the other end of the funnel looking at the Suburb/LGA, then street and then the platform will supply a shortlist of very qualified candidate properties to then appraise and proceed with DD.

    Suburb Selection

    Although we have a capital growth score based on supply/demand dynamics that can help you seek out growth suburbs - we have actually integrated the expert opinion of 51 experts and counting. National, regional, LGA and suburb level opinion has been aggregated - we have found outstanding value in suburb selection when you find the overlap in expert opinion. So we have the supply/demand numbers but put these numbers in context with aggregated expert opinion.

    I recently co-authored a report with Terry from where we nominated the 133 best streets for investment across the country - this was featured on the cover of Money mag and is also used as a base for suburb selection - PM me for a link to download this :)

    You can run searches and then view a dashboard of expert opinion to find the LGA’s and suburbs of interest.

    Street Selection (the missing link)

    Once a suburb is selected, we have found that it is only generally less than 20% of that suburb that has the optimum mix on the ground factors that will position it for above average growth. Our optimum mix (Ripehouse Sweetspot) has been retrospectively shown to outperform the remainder of the suburb by over 20% in relative terms. Not all streets are created equal.

    We can show you the following per street:
    • Public housing
    • Rent pw
    • Yield
    • Owners vs tenants
    • Property type
    • Sold price
    • Gentrification or recent growth
    A Ripehouse Sweetspot is a street area that has low public housing, high demand for the suburbs in-demand property type, higher than average rent, higher than average yield and between 30-70% tenants. Our interface can very quickly show you exactly where these areas are located and you can even adjust your tolerances for any metric to create your own custom profile and view this on the map.

    We maintain all datasets in house. Public housing is an example where although it was based in 2011 census data we are the only dataset that has regularly updated public housing data (per LGA) bi-annually since. Ensuring this data is not 4 years removed from reality.

    Sweetspot (street) into property

    We have advanced location based filters that will filter on-market properties based on their location in these Sweetspot locations, are in/outside flood affected areas, are in your price range etc etc

    Our property appraisals give full control of the end appraised figure.

    We do not provide a basis comparable list to form a value (or value range). We start by automatically assessing the likely condition of each comparable sold property in the suburb. Our algorithm is self learning by improving its accuracy when a user overrides or disagrees with it. Essentially returning you a list of properties that are more likely to be more similar - not just in terms of specs but also in terms of condition.

    We fully subscribe to owning the process of vetting your comparables, allowing you to “remove and replace” non-comparables until you are comfortable with your Top Five comps. From there we run the property through a series of location based appraisal adjustments - location and public housing are considered.

    If you would like to have a second opinion we then have the #askripehouse function where we will vet and provide feedback on your appraisal.

    We provide a powerful dashboard that will track your suburbs and expert opinion, apply sweet spots and appraisal automatically. It will notify you via SMS and email as soon as a property hits the market that makes it through all of these steps in the selection funnel. You can also receive SMS or email notification within the hour of any discounting or price changes on a property you are tracking (or if it is sold).

    Buyers partner service

    Once a property does tick the boxes we have just rolled out a buying partner service (privately) in over 30 key LGA locations across the country allowing for the physical inspection, appraisal vetting and negotiation advice of each property you have added to your shortlist. By default this is included for up to four properties per “purchase transaction” for a once off fee of $997 which we feel is a game changer. When combined with the robust suburb, street and property platform this is an end to end service for a truly disruptive price point.

    I have been on somersoft for over ten years and am an investor myself - I guess to summarise Ripehouse is designed to help investors by investors. I remain very close to those that use the product and we are very focused on always improving it and helping us buy property that is located all across the country. I really want to stress - technology can help us do some amazing things and it will only help us to do this by adapting quickly to our needs and helping us! Lets work together.

    Ripehouse is a subscription service but I would love to extend to Property Chat a free trial coupon code - where you are able to use the “Basic” level platform for free for 14 days. No obligation or credit card is needed to activate.

    To lock in this free trial follow these steps:

    1. Visit
    2. Select the Green Monthly "Get Started" button (obviously ignore any pricing)
    3. You will be redirected to our Sign Up Page
    4. Enter your Name, Email and the following Coupon Code


    5. Select "Subscribe" to get started

    If you have any questions we have live integrated support or PM with your contact phone and we can discuss via phone!

    I am happy to answer any questions via this thread AMA style :) or PM.
    Soul, Scotty3, RyanB and 3 others like this.