Search Engine Tutorial

This engine gets tweaked, modified and improved on a daily basis. The good news is that you are getting really current and valuable information. The bad news is that it's always in "Beta" condition and is a bit complex.... If you get frustrated, call me and I will walk you through it. Jim (702) 287-1092

Search Engine FAQs

You can dial in preferences that fit your investment preferences. Search results will deliver the top 15 properties that you dial in. If you create too many filters, you will get an error message "Results not found" and will default to the top 15 properties in Las Vegas.

If this menu doesn't make sense, just use the basic tools "Best Value", "Best Condition" etc.

Ratings	The more stars the better. Just a like a movie rating.
Average	The average of all the ratings.
Equity	The price relative to properties around it.
Income	Income relative to price AKA capitol return.
Condition	Relative property condition.
Desire	The most controversial rating - My opinion.
Square Footage	The only rating that is not an opinion.

List Price - This is the price an owner or bank has it on the market for. IT IS NOT THE PRICE YOU CAN PURCHASE IT AT. You have to make offers just like everyone else. So get in line.

Property Details - Absolutely everything you need to know about the property is here. This page will also have comments if I have visited the property, repair estimates, additional photos and all the monkeys that the listing agent is hiding.

Area - This is my way of grouping properties into different areas. The MLS numbering system isn't intuitive and too granular to display what I want. I put the MLS area number in there for agents and people who have a clue what it means. NOTE: There is no relationship between my mapping system and desirability. Very confusing but I won't fix that problem until next year.

Income - What you are looking at here is the net income after HOAs and Taxes and is based on my property management experience in that area.

Ownership - This is a huge benefit to those who seeking financing. Unless you are paying cash, this field will dictate which properties you can make offers on. This page goes into more depth on the subject.

Who built this?

Jim Eagan. Investor, agent, geek, Irish fun loving guy...

Why did you build it?

All my customers are investors and this tool was built out of frustration. I go hunting with investors every week and this tool is necessary to help me dial in an investor's preference. The other benefit is that I have many customers that like my system and will just make offers on properties that I have visited.

How did you build it?

I combine Filemaker, PHP, Dreamweaver, Pacifico, and a little magic dust.

What are you working on now?

The mapping system. There is a glitch between me and Google maps which will sometimes bring you a "Property Not Found" notification after 10 search results. Super annoying and I'm hiring some elves to assist me. Probably have it done by February 2011.

Why are only 15 results shown?

Since the above glitch still exists, I don't want to annoy you with dozens of "property can't be found." If it makes you feel any better, it's bringing the top 15 to the top.

How are properties sorted?

They are sorted by the "Average" quality of the property. The top performers in equity, income, condition, desire and square footage are shown at the top.

Where does the Data come from?

I feed MLS data into my data base and then rate the properties. I call this process "Surveying" and is based on my knowledge of that area, property management experience and contracting experience.

How many properties do you survey each week?

I survey about 40 each week. This process is challenging and I sincerely wish I had more time to survey more. Generally, I survey properties that most investors are looking for - 3 bed, 2 bath, 2 car garages.

How accurate are your surveys?

Properties that I haven't visited will generally have one rating off by one degree. Properties that I have visited are dead on.

How many properties do you visit each week?

On any given week, I visit about 20 properties while scouting and hunting for investors. You can see all the properties that I have visited which are still available here.

How frequently to you remove dead properties?

Once a week, usually on Fridays, I remove all the properties that went into contract, sold or taken off the market. This means that that any point in time, 20% of the properties you see are no longer available.

Why are dead properties displayed at all?

I just don't have enough time to remove dead properties on a daily basis.

What type of properties do you avoid surveying?

Condos, 1-2-5 Bedroom Homes, High Rise Condos, Properties Over $150k

Why don't you survey these?

Generally, these make poor investments. Either they cash flow poorly OR they are not desired as much as your typical 3/2/2.

Why are some of these on your site?

Some investors insist on buying that stuff and I have to survey these in order to show them the best value of that category.

Can you survey properties that I give you?

Maybe. If you are current investor of mine, I will survey properties any day of the week. If you are not a customer, then I charge a fee of $10 each.

Do investors suggest I franchise my system?

All the time. I'm looking for franchise holders in larger markets like Phoenix and Sacramento. Franchise holders have to be licensed agents and I have at least a year before my systems are easier to use.