FixList Wants To Increase Your Deal Flowmollygavin
FixList is a new subscription service that aims to help developers increase their deal flow and improve their acquisition strategy. Data scientist Stacey Mosley conceptualized FixList as a means to address urban blight while working for the Nutter administration. The platform is a one-stop-shop for gathering intel on potential investment properties.
Similar to Zillow, you can search properties by address, owner, neighborhood or ZIP code. You can also filter by criteria geared toward developers: browse vacant properties; look up owner information (and see how responsive they are likely to be); find out if and when a property is headed to Sheriff Sale. FixList pulls data from over eight Philadelphia databases and can save user’s time by having all of the information in one place.
In addition, FixList uses their own unique system to rank properties on their perceived potential for redevelopment. The “redevelopment score” is “based on predictive modeling to hone in on addresses that are underdeveloped in statistically significant areas that are ripe for redevelopment.” In laymen’s terms, FixList can help you identify a fixer-upper in already desirable or up-and-coming area.
Stacey was recently named “Innovator of the Year” during Philly Tech Week. Though her platform was tailor made for Philadelphia, she believes the technology can be applied to other markets and has plans to expand in the near future. We tried out FixList and talked to the Stacey to better understand how developers can make the most of it.
1. FixList has data on nearly 600k properties, many of which are vacant. What qualifies a property to appear on FixList?
FixList’s tool includes every property in the city of Philadelphia. They are searchable by various criteria about the physical condition and attributes, geography, financial state and more so that users can find all properties that meet their criteria whether or not they are actively for sale.
2. How do you estimate property condition?
Condition is estimated based on information from the Office of Property Assessment then adjusted using data from the Department of Licenses & Inspections and other agencies to get to the most current state of the property.
3. Can you provide a practical example of how a developers can use the information are on your sight to pursue the purchase of a privately owned property?
Let’s say someone is interested in doing new residential construction in East Kensington. They can search by neighborhood, and the dimensions of the lot, along with the zoning and use, plus whether or not the property is a lot or structure. They can even then search by whether or not a property has taxes and may be more incentivized to sell.
Founded in 2015, FixList is still a relatively new tool. One thing that’s not factored into the “redevelopment score” is the estimated cost of an acquisition. Also because the site culls city data, it is only as up-to-date as the city is. Monthly fees can run $135 or more. So while the service may not be for every developer, it could certainly be utilized by some to identify properties outside their area of expertise and to streamline and expedite the research process. If you think FixList could be of value to you, you can explore it with a free trial. You can also read FixList’s joint report with JLL about the Callowhill submarket here.