Real Estate investing is one of the ways that Filipinos in the Philippines and abroad can increase their net worth, and create income streams. Property prices, especially condominiums have skyrocketed over the years, resulting in an increase in demand- thanks to remittances from abroad and the growing BPO Industry.
While some Filipinos are able to make money through property investing, not everyone is so lucky. Some end up buying properties they can’t afford and in the end lose their investment. Some buy properties that don’t make any money at all.
So what can be done to help solve this problem? Enter, Team OVERTOP!
BXD had the chance to speak with the founders of this new Filipino Tech Start-up company to know more about them and find out how they can be of help to investors like you and me.
BXD: What’s the big WHY behind forming OVERTOP?
Team Overtop: We, the founders, experienced difficulties in our real estate investments. Dianne was bombarded by “surprise” fees when the turnover of her condo came, leading her to re-calibrate her budget, withdraw stock market accounts, and spend her emergency funds. Sherwin was basically hijacked into getting a home loan from a bank that’s not his choice because of an undisclosed tie-up with his property developer. Marco’s woes are the tedious and expensive documentation processes in dealing with inherited property.
This got us thinking that there are tons of problems and that there must be a way to lessen these instances. We developed empathy for our fellow investors and resolved that something has to be done. That there must be a better way of investing. There must be a way to make investors organized, smart, and profitable. This is why we built Overtop.
There must be a way to make investors organized, smart, and profitable. This is why we built Overtop.
The word literally means, exceed in height or be superior too. And that’s the overall vision of our team – a community of organized, smart and profitable real estate investors. They (and we) will be able to protect and grow our assets, develop our investing knowledge, and thereby giving us more time to enjoy the fruits of our investments.
BXD: What is OVERTOP all about?
Team Overtop: Overtop is an online platform that will basically be your smart assistant in handling your investments. It’s like having your secretary who will file your documents, compute your financials and generate reports of your property’s performance – and there will be so much more in store for the future.
BXD: Which market does it cater to mainly?
Team Overtop: The primary market is the Filipino ex-pats. However, the tools and features are patterned to the global standard practices and metrics of the real estate industry. We’ll have features, tools, and materials that will cater to a new investor in terms of educational materials to a more sophisticated investor in terms of smart documentation tools and investment analysis reports.
BXD: Is this a FREEMIUM Service?
Team Overtop: Since the primary purpose of the startup is to make a dent in the current practices in the real estate industry, a huge chunk of the features will be free. As the community grows and the needs become more complex, we will, of course, look into having some premium features available at a minimum investment fee.
BXD: What are the PREMIUM services to be offered in the future?
Team Overtop: It’s difficult to specify answers to this question at this stage given that we aim to respond to investors’ needs and complex pain points. As investors ourselves, we’d have to study the market and find a common ground to which technology can help. What we can guarantee is that we will operate without losing sight of our investors’ needs – which means a never-ending cycle of innovation.
BXD: Is this only accessible through a website or will there be a mobile app?
Team Overtop: The site can be viewed on a mobile phone but it is optimized for desktop view. There is no plan for developing a mobile phone app yet.
BXD: How do users sign-up and use the service?
Team Overtop:
- Visit www.overtop.ph
- Create an account
- Add your Property and Property Details
- Enter Income/Expense details. You will be able to check your profitability instantly.
- Many other features soon!
You may also check some tools like:
- Buy vs. Rent Calculator
- Affordability Calculator
- Capitalization Rate Calculator
BXD: Anything you want to say to interested users and real estate investors?
Team Overtop: Let Overtop help you become the property investor you are meant to be – organized, smart and profitable. Take advantage of free tools, articles, and features. Please get in touch with us through our Facebook page and hello@overtop.ph for feedback. As a startup, your feedback is our fuel for innovation.
Together we are Overtop. Together, we will go beyond the usual property investing.
So there you have it, folks. If you’re looking to invest in real estate, and want to make sure you avoid the pitfalls, check out OVERTOP. Send them an email, or simply check out their website and facebook page to know more.
