DTTPPM Portfolio

Real Access

The mobile application designed to help millennials and Gen Z’s partner on a real estate deal!

Design:
Developer:
Portfolio
Developer:
Portfolio
Developer:
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Portfolio
Mentor:

Product Experience

Problem Statement  

How might we make the process of finding other real estate investors to partner with easier for millennials and Gen Z’s.

Problem Background  

Today, young professionals are increasingly becoming more interested in building a real estate portfolio that would act as a passive source of income, to buffet their retirement plan as well as build generational wealth. 

According to an article by Forbes, “Eighty percent of young investors look to alternative investments, such as private equity, commodities, real estate and other tangible assets, and nearly 75% of Millennials, compared to 21% of older respondents, invest in sustainable products and ventures.” With this growing number there is a gap in the market especially with regards to getting the right resources and information that’s needed to invest in real estate and build a portfolio that would stand the test of time. Following the 2008 Financial crises which had a great impact on mindsets when it comes to investing, one of the major lags was transparency in what the pros and cons, including other intricacies that came with a profitable portfolio of real estate investment. 

Finding a home or property for sale is not a problem these days with the advancement in technology and the rate at which information travels. However, finding a one stop shop that walks an investor through all the intricacies of building a long lasting real estate investment portfolio is time-consuming, strenuous and most often met with dead ends. There isn’t enough resource to not only find the real estate deals but also finding potential partners for deals that are profitable but would require a joint venture since the risk may be too much for an individual portfolio

Research Insights

User Pain Points

More than half of the responders (63.6%) find it difficult to access information about real estate 

Supporting Data

82% of responders to our survey ranked highly the importance they place on growing their real estate portfolio

Feedback

Our preliminary user research to validate this problem with millennials and GenZs in North America showed:

  • Majority of participants are interested in investments that has opportunity for a good return on capital as opposed to cash flow
  • Enthusiasm for a potential mobile application that could provide such info.
  • Very well over average of the participant think that it is important for them to grow their real estate portfolio

Landing on the Solution

Based on our target users’ pain points, the following solutions will be a good starting point for the features this mobile application will provide:

Networking and Connection Opportunities

  • Provide features that allows for networking and building connections with other investors

Access to data and relevant information

  • Enable the platform to provide data that is helpful for investment decision making as well as educative

Real Estate Services

  • Make access to administrative services easier for first time and experienced investors

Future Steps

Based on feedback from engaging with our user the next step is focusing on including features on the app that cater to the following scenarios

  • Scenario 1:  The application is able to provide opportunities  specifically for networking and connecting with active and passive investors
  • Scenario 2 : A platform where latest real estate deals are available before it reaches the wider market. 
  • Scenario 3: An application that provides all the information and contacts for verified administrative activities necessary for closing  a deal.
  • Scenario 4: An application that provides information and data on macroeconomic trends, investment insights and analysis to help with real estate investment decision making.

Learnings

Product Manager Learnings:

Moyo Olaniyan

I was able to expand my learning horizon in product management especially in the following areas:

  • Research and Analysis 
  • Product Requirement Documentation
  • Problem Solving

Designer Learnings:

Developer Learnings:

Developers Learnings:

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Full Team Learning