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Show Summary
In this episode of the Investor Fuel podcast, host Olivia interviews Daniel Turro, a seasoned real estate investor and developer of a unique SaaS platform designed for real estate analysis. Daniel shares his journey in the industry, the challenges he faced in building his platform, and the importance of networking and maintaining relationships. He discusses the innovative features of his platform that set it apart from others in the market and emphasizes the significance of staying positive and adaptable in a fluctuating market. The conversation concludes with Daniel’s insights on future goals and the value of community in real estate investing.
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Investor Fuel Show Transcript:
RE Data Metrix (00:00)
So, and this is a very real world scenario is that, you I might have a loan that’s gonna let me do, make 50 grand on a property, but it’s gonna cost me 60 grand out of pocket, right? And the expensive loan, I’m gonna make 40 grand, so I make 10 grand less, but I’m only coming out of pocket.30 grand. So 30 grand to make 40 grand in my mind is way better than 60 grand to make 50, right? Especially since I can take the extra 30 and I can do a second deal with my same pool of cash.
Olivia (02:05)
Hello everyone and welcome to the Investor Fuel podcast. I’m your host Olivia and today I’m joined by someone I’ve been looking forward to chatting with who’s making some serious moves in the industry space. It’s my pleasure to introduce Daniel Turro. Daniel, where about are you in the world today?RE Data Metrix (02:28)
I’m inAtlanta, and then specifically Decatur where it’s greater, which is part of Atlanta.
Olivia (02:35)
Very cool. Well, we’re glad to have you here. And I think our listeners are really going to take something away from how you’ve been approaching your strengths, your networking, your new platform that you’ve just shared with me. And let’s dive in. So first off, for people who may not be familiar with your world, would you give us a short version? What’s your main focus these days?RE Data Metrix (03:05)
Well, so the history is I’ve been doing it for like 10 years at full time. I dabbled in real estate before that, but full time for 10 years. over the years, about, I guess at this point, like seven years ago, I made a tool which helped me internally to analyze deals. And as I said, basically deal analyzers are a diamond dozen. You can find them.What mine does that’s different is mine takes that analysis down to individual loan levels and it compares one loan against the next against the next to see how it impacts the profitability, your cash out of pocket, your cash on cash return, basically all the important metrix. then, and so I’ve been using this internally for years. And with people that I’ve worked with have seen this over the years. They’re like, that’s really cool. You used to sell that. I said, I agree. I should sell it. I just don’t know how to sell a spreadsheet.
So now over the last year, what I’ve done is I’ve built out a platform, I built out a SaaS, which is that’s the core tool in there. But it also does help with ARV calculation with Max Offer for wholesalers or for fix and flip calculators, just all kinds of tools that can help people. then when you, you can even enter your own loan in there and compare it to some proposed loans and it will show how those affect your profitability. And if you like one, you can click the button.
and then you can be taken directly to lenders and start the application process there. So that’s been my focus is getting this thing built out and getting it cool and up and running. It’s live, it’s ready to go, and it’s a pretty clean interface. also, I forgot to mention a lot of automation, right? So you don’t have to type everything in. You basically drop a Zillow link in and it pulls all the information in about the property. And then all you’re going to do is you’re going to enter the deal information. So it automatically does your property.
the deal information. So what am I buying it for? What I expect it to cost me to rehab and you know what is my ARV going to be and boom and then it sort of takes the next step. Tell me about the investor.
So I’m an experienced investor. I’ve done you know whatever three to five flips in the last year. I’ve you know 10 to 20 in last five years, three years, whatever and then and then it takes you to it does all the comparison and it will present loans and such as that. So and there’s more help along the way if you’re not quite sure what if you’re using this to negotiate.
⁓ with a seller and you’re trying to determine what’s my really what my max buy price or my ideal buy price offer price would be. It can help with that. It can help with ARV calculations. So just all of the different parts that we deal with on a daily basis.
Olivia (06:28)
I love it.So what caught my attention about you was the way that you’ve been able to adapt to the kind of wild market that we’re in these days. You’ve been able to create something, this amazing platform that you’re sharing with us today that is going to help a lot of people and allow your expertise from over a decade of experience to help others. That’s not easy. And so I just want to say thank you.
Good job. What’s been the?
RE Data Metrix (07:01)
Thank you. It’s been a fun journey.know, it’s been it’s been interesting and cool. I mean, like I’ve never developed anything like that. I mean, I know I mean, I made the spreadsheet, but the spreadsheet is a spreadsheet. Right. And ⁓ yeah, but it’s been a fun and interesting journey. And as you might be able to tell, I’m not the youngest person out there. And so it’s nice to know my brand is still sharp and it still works.
Olivia (07:28)
What’s been the key to keeping that machine running smoothly?RE Data Metrix (07:34)
I engaging, just not being, you know, just engaging, getting in there and doing it, and not being afraid. And that’s the same thing when I started the real estate investment phase. Just don’t be afraid. You gotta, I mean, things aren’t always gonna go right, but things will never happen if you never do anything, right? So just start, just do it, and understand that frustration is part of the journey. It just is what it is.We all make mistakes in life, ideally if we’re doing it right, we don’t make the same mistakes, right? And we learn and we move on. And so if I’m frustrated about something today, because I’m building out this system, chances are next week I’m no longer going to be frustrated about it. Because I’m going to work through it, and I’m going to have that knowledge, and I’ll have something new to be frustrated about. And I won’t have that the week after either. So yeah, just stay in the game.
Olivia (08:28)
That’s great advice. Can you maybe give an example of something that you’ve recently dealt with? A new lesson learned, something that you don’t want to continue repeating?RE Data Metrix (08:42)
Well,yeah, I mean, right now, because the market got super weird, I bought a couple of properties north of Atlanta and worked on the numbers were really good when I bought them. I mean, I’m not the only person looking at these. You know, I’ve got contractors, I’ve got realtors, and we’re all like, yeah, numbers are good. And then everything just kind of hit pause and people just I’m still I’ve got rid of one of them and get rid of another one soon, hopefully. And, know, but I bought them and I bought them with such a
margin that you know I said well I mean I think I’ll make X amount but if it goes kind of poorly I’ll still make this and that didn’t happen either I didn’t even make that so but again it’s just it’s it sucks and I’m not the only one out there that that’s experiencing this I talked to a lot of investors a lot of people you know inventory levels are quite high interest rates are a little bit better but they’re still weird and everybody out economic uncertainties terrorists everything else is just freaking people out
So I don’t freak out. put my nose to the grindstone and do what I have control over, right? Which is, don’t have a lot of control over those other things.
Olivia (09:52)
Yeah, staying positive and controlling what you can, which is your mindset, which sounds super cool.RE Data Metrix (09:56)
And direct the energy, direct the energyof the frustration into something that’s going to make a change in your life.
Olivia (10:39)
Absolutely. So what’s the next real goal for you? Is it really just wanting to reach a lot of people, explaining what this platform is for you or anything else? ⁓RE Data Metrix (10:53)
That’sthe primary thing. mean this has been my full-time job. I mean I still have these other households working on stuff, but this has been largely my full-time job for months now. I mean literally I’m 7 to 11 hours a day at the computer working through the scenarios, making sure everything’s working right. And so it’s pretty smooth, it’s pretty clean. I’m sure there’ll still be some glitches here and there that show up. But it is ready for prime time. That’s the goal. Right before you go ahead of meeting with a…
some marketers that can help me. It’s not my forte. ⁓ I don’t mind paying folks that are going to bring me the results I need and whatnot. So yeah, that’s the goal is to bring users. ⁓ there is a free account as well. So people don’t have to really, you don’t even need a credit card. You can go use all the tools. They have some limitations on the free one, but things like lender access, that’s free for everybody. If you trying to find a lender and do some loan comparisons, that’s out there.
But some of the more advanced tools, particularly the automations are part of the paid program. you get a little sampling of them on the free one.
Olivia (12:08)
Okay, good to know. They can get a nice little sample of what it’s gonna feel like before any investing. ⁓ Well, I know now that a lot of people listening are either earlier in their journey or looking to level up. And I believe that they would really benefit from hearing about this. ⁓When it comes to building relationships and growing your network, what do you think has made the biggest difference for you?
RE Data Metrix (12:43)
I think a big part of it is just never burn a bridge. Never be a jerk to anybody. No matter how much they deserve it, just don’t. I mean, people get weird, people get disrespectful, people get strange. Just don’t. It doesn’t matter. Life’s too short. So I go back to a lot of contacts that I’ve had that I’ve developed over the years for this, for other things.You know, just because sometimes I’ve got a new need and they might be the guy and even though they pissed me off five years ago, I still got their stuff, right? So just, yeah, just never, you know, go home, talk to your wife and say what a jerk the guy was, but just don’t, don’t do anything in public and don’t be mean to anybody ever for any reason. know, that’s, that’s basic common sense to me, basic, basic humanity as opposed to just networking is like, it’s just not worth it.
I had a boss years ago when I was a W-2 employee. I had a boss scream at me. He was unhinged. Like in a sales meeting, national sales meeting, right? And over something, something, a non-thing, I don’t know. And you know, when he was done yelling, I just got up, I exited the room. And I already had another job. I was leaving in two weeks. just had to tell them that. So then, you know, a little while later I gave notice and all my colleagues were like, man, did you tell them all? Did you give them a piece of your mind? I’m like, no.
No, I’m never gonna see the guy anyway. It doesn’t matter. There’s no reason to do that. There’s no benefit to it. So anyway, I’m harping on that, but yeah.
Olivia (14:18)
Yeah, great advice really, because relationships are everything in this space.RE Data Metrix (14:24)
Yeah, exactly.yeah, if you start, the world will take care of it yourself. If you’re a jerk to people, the world will take care of that, right? And you’re not going to, your circle is going to get smaller and smaller and smaller. So don’t worry about what other people do.
Olivia (14:44)
Yes.RE Data Metrix (14:44)
One more thing that’scool, is because the thing is new, there’s not much data in there, but every field that people analyze gets stored in their portal. And so then they can track it. So they go, this is under contract. This is purchased. This is sold. And every step of the way, it asks for updated information. So over time, as people build up their data,
then there will be reporting available, like, what’s my average wholesale?
Margin, what’s my average price per square foot for a medium rehab or a light rehab or a full rehab? And so there’ll be a bunch of data that people can That I’ll build reporting in into the system as we grow so I think that’s kind of a cool feature too Just to have everything in one place As opposed to you know these stacks of papers and folders we have everywhere
Olivia (16:15)
Absolutely. Do you know of anyone else that has anything similar to what you’re creating or are you the first of its kind?RE Data Metrix (16:22)
Soto my knowledge and based and also based on everyone else I’ve talked to as I said Deal calculators are a dime a dozen. No one else has the No one else has the the loan calculator, right? This specific this loan versus this loan versus this loan. What does it do? Here’s the example I gave right so if if I have You know, I got a loan but it’s a cheap loan, right? I’m only paying nine and a half percent interest and
and you know, at one point, but they’re only gonna cover 85 % of the buy, right? But I have an expensive loan that’s gonna cover more and has lower fees and this and that.
So, and this is a very real world scenario is that, you I might have a loan that’s gonna let me do, make 50 grand on a property, but it’s gonna cost me 60 grand out of pocket, right? And the expensive loan, I’m gonna make 40 grand, so I make 10 grand less, but I’m only coming out of pocket.
30 grand. So 30 grand to make 40 grand in my mind is way better than 60 grand to make 50, right? Especially since I can take the extra 30 and I can do a second deal with my same pool of cash.
And therefore if I did 40 on both, now I’m making 80 instead of 50. You know, not 40 instead of 50. But yeah, to my knowledge, there’s nobody else that’s bringing it down on that granular.
I’m relatively certain of that. I’ve been looking around quite a bit. I’m cheap enough. I’m like 25 bucks a month, right? I’m cheap enough that you could be just part of a suite of tools. ⁓ My comping ability is limited. It’s helpful. But you’re going to get a much more profound result if you use one of the more dedicated things, like a prop stream or a Re-Simply or something like that. Actually, sorry, Re-Simply doesn’t do comping. But yeah, if you do a prop stream or a
chat ARV or something like that, you’re gonna get a much broader experience. I think I could be one little part of people’s toolbox. And to my knowledge, that part’s not overlapped.
Olivia (18:31)
amazing MacGyver of your era.RE Data Metrix (18:35)
That’s right. That’s right. I’m a process guy, right? I like, like streamline things. I don’t like cluttered things. They hurt my brain. And so ⁓ I’ve got a friend who’s not in this industry at all, but he’s very much a process guy. He like, he starts businesses, he helps people run their businesses. And we kind of bond over that, like processes everything. When I was a, I was a chef before, okay. And I cooked everywhere. I mean, I was, I was a demo chef for 10 years.Olivia (18:37)
All right, well before we go.RE Data Metrix (19:04)
I used to demonstrate this high-end culinary equipment to people, and when they bought it, then I would go work with them in their kitchen to train them how to adapt their current procedures to this new equipment. But so I have cooked everywhere from conference halls. I did a demo at the end of a pier on Jekyll Island with an oven with a propane tank, an extension cord, and a garden hose. So I can cook anywhere, and that’s because process matters.If you don’t understand the steps to make it happen good at the end, then it’s going to break down. So that’s why I think the tool is clean, is I love process.
Yeah, keep it.
Olivia (19:50)
Alright, well thank you Daniel. Before we wrap up, if someone wanted to reach out, connect with you, maybe collaborate or learn more about what you’re doing and how to access this incredible streamlined app website that you’ve developed, what is the best way for them to reach you?RE Data Metrix (20:11)
Goto its R-E data metrix with an X. So R-E-D-A-T-A-M-E-T-R-I-X.com. And there’s a button there that says Contact Us. And then there’s also a bunch of little video tutorials that they can watch, show how it works. If they want, can sign up for free, try it for themselves. And yeah. And it comes directly to me. Right now, I’m a one man show. So anybody that goes through there, it’ll come to me. And I’ll reach out. And I look forward to it. I love talking to people.
I love a lot of the reasons that think it’s cool as it is, is because over the months and months of building it and meeting with different investors or different lenders or affiliates, they would go, you know, it be cool if you did that. And I go, yeah, let me see. I can do that. So like, and one example, I don’t want to take too much time. One example is like, so most lenders will do 90 % of the buy, many will do like 90 % of the buy, 100 % of the rehab, right? But some lenders will go, we’re up to 90 % on the buy, 100 % on the rehab, but we have max LTV of 90%.
Which means that if you are, if I have a $300,000 project and I have no rehab, they’ll fund 270 of it, right? But if it’s 250 and a 50K on the rehab, they’re only gonna fund about 87%, not 90, because they’re funding 100 % of the rehab. But if it’s a 200K purchase and a 100K rehab, now they’re only gonna fund like 83, 84 % of the deal, right? So it all shifts and moves and stuff like that. So all that is, but I got that from talking to a lender.
He’s like, well, this is how we do it. So how do you account for that? go, well, this is on a Wednesday. So on Friday, I’m like, all right, send me an email. This is how we account for that. And then it runs all the numbers of whatever looks the best for the user gets presented.
Olivia (21:58)
Hey, thank you for explaining that. Perfect. Well, listen, I appreciate your time, your story, all the perspective you’ve shared, and we need more people in this space who are developing easier ways to do things more streamlined, more clean. Thanks again for being here. And for those of you tuning in, if you got any value from this, make sure you’re subscribed. We’ve got more conversations coming with operators just like Daniel here withData Metrix and they’re out here building their real businesses just like you are. ⁓ Again, that website was datametrix.com. ⁓
RE Data Metrix (22:41)
REdata metrix with an X. It’s a little clunky, but I still like it because we deal with metrix every day, right? The metrix of the deal. Lenders deal with metrix. If they’re trying to sell their stuff to Wall Street, they need to follow the metrix. So it’s a little clunky.
Olivia (22:44)
Perfect.Perfect, I think we got it. And we’ll see you on the next episode. Thank you so much for your time, Daniel.
RE Data Metrix (23:05)
Thank you for having me. Appreciate it.
