Overseas investment is no small feat. After all, when you’re unfamiliar with an area’s geography, deciding where to buy can feel nothing short of overwhelming and navigating a foreign buying process can seem insurmountable.
However, Neozips, a new proptech platform, aims to streamline the investment process for Korean investors. They’re leveraging ATTOM’s property data to ensure that their clients can make informed investment decisions, regardless of where they’re located when they’re ready to buy.
Navigating Location Barriers in Real Estate Investing
Eric Eo, Founder and CEO of Neozips, has been working as a real estate agent in the United States for the last seven years. In that time, he has specialized in working with some of Korea’s biggest overseas investors. He’s also learned what it takes for overseas investors to successfully grow their portfolios in the United States.
“Often our investors don’t know much about the buying process here,” he explains. They need someone who can make recommendations about the best areas to invest in and a consultant who can explain the tax laws and wiring instructions to them.”
After spending several years coordinating these services for his clients with various providers, Eo decided to create a platform where interested investors can find all the essential information they need in one place.
Providing a Full-Service Investment Experience with Neozips
In March of 2021, Neozips launched. On the surface, the platform doesn’t look that much different than some of its bigger competitors. However, its intent could not be more different. Eo designed his platform specifically with investors in mind.
“The other proptech companies will show you everything that’s available. They don’t care about your ROI or your bottom line,” Eo says. “We focus on targeting properties that are very promising from an investment point of view.”
What’s more, once an investor selects a property that they’re interested in viewing, the team at Neozips can help walk them through the rest of the overseas buying process, from viewing the property to signing the closing documents. Plus, for those who don’t want to worry about finding someone to manage the property on their own, the platform also offers its own property management arm. Then, when the time comes, investors can also sell their property through Neozips, too.
Not only that, but they can do it all in their native language.
“We’re the first investor-focused platform to offer all of our active listing data in both English and in Korean,” remarks Daniel Cho, VP and CTO of Neozips “We translate everything on a real-time basis so that our clients have an easy and convenient experience.”
Leveraging ATTOM to Curate the Best Properties
However, before they could get fully up and running, both Eo and Cho knew that they would need to partner with a company who could provide the specific data points that they wanted to provide to their clientele.
“We looked at multiple companies at the start, but eventually we realized that ATTOM’s dataset is very profound. It has everything we need and more,” says Cho.
Rather than overwhelming their target investors with a wealth of information, the team at Netzips chooses to focus on showcasing only those data points that they know will help investors make informed decisions.
In particular, they’re currently working with ATTOM to provide their customers with property data, community and school district data, market trend insights, and an automated valuation model (AVM) for properties in southern California.
Partnering Together for Future Global Expansion
Although Neozips is currently focused in the SoCal region, they have big plans for expansion. Eventually, they want to grow their platform so that it can offer investment insights for each state in the United States.
However, they also want to grow their consumer base as well. One day, they hope to break into China, and Japan, as well as other East Asian markets. When they do so, they intend to incorporate ATTOM’s robust and comprehensive real estate data.
“The reason why we want to partner with ATTOM is because they have data that’s sought after in those markets. We want to be the ones to help bring it to them.”