Investing in real estate is one of the best ways to generate passive income and achieve financial freedom. However, finding the right deals and making great ROI is a lot harder than it looks. Thankfully, technology has developed far enough to provide real estate investors the means to achieve more results with less effort.
Learn about some of the best tech tools that can help real estate investors improve their businesses in the most efficient ways possible:
Investing in real estate is not something that is taught in school. For this reason, many real estate investors learn about the industry on their own using a myriad of different sources, such as podcasts, blogs, ebooks, and seminars. BiggerPockets has all of these, being an invaluable source of information for real estate investors. It contains many different types of learning material that help people become better investors, create more efficient businesses, and become better homeowners as well.
Angi is an app that can help house flippers and property owners find nearby contractors for home improvement and repair projects. The app helps save owners lots of time trying to find reliable landscapers, repair companies, pest control companies, and other types of contractors—as well as allow them to compare options conveniently.
DealMachine is an app that allows real estate investors or aspiring homeowners to find and buy properties that no one else is aware of, which can minimize bidding wars between buyers. Using the app is relatively simple. Interested parties take pictures of the house; the app provides information on the owner, and buyers can cold email the owner with their offer.
House flipping can be a very lucrative business when done right. Property Fixer can help flippers estimate the costs of renovating the home, as well as determine if the property is worth flipping based on neighborhood data. It can also help investors identify the type of mortgage they would need to cover the costs of buying and fixing up the property.
Managing investment data is the bane for many real estate investors. Property Capsule is a cloud-based platform that aims to alleviate this problem by allowing investors to transfer investment data into applications for web, desktop, tablet, and mobile, among others. The technology’s features include portfolio review tools, automated marketing materials, online dealmaking, and more.
DocuSign is an extremely useful technology for all types of business, especially those that involve a lot of paperwork as in real estate investing. Investors can use this application to sign documents electronically instead of having to print, sign, scan, fax, and mail the document, saving lots of time and money.
DocuSign is free to use. However, users will have to pay for extended features like using personalized brands, setting up reminders, and making real-time comments on documents, among many others.
Rent Manager is one of the best apps for landlords and property managers. Its features include an asset management database, contact management, job orders, and service issues tracking. It also comes with an integrated website that allows users to find new tenants or buyers for properties.
Fundrise makes real estate investing more accessible to small-time investors. To illustrate, the minimum investment is only $500. With Fundrise, investors can access real estate crowdfunding and REITs, giving them the opportunity to invest in different types of residential and commercial real estate even without a large capital.
Houzz is a website and mobile app that features home design ideas, contractor listings, and sources for home goods. It is a rich source of inspiration and listings that real estate investors can use to renovate, furnish, and flip properties, thereby playing a significant role in increasing ROI.
LoopNet provides commercial real estate investors with detailed reports on potential properties, including neighborhood statistics, brokers’ investment details, street views, pictures, and more. Since 1995, it has been helping commercial real estate investors find the best deals in their target locations with less time, money, and effort.
Zillow is one of the best online real estate listing websites for buyers, investors, real estate professionals, and sellers. It allows users to browse through countless listings in their target neighborhoods and makes it easy for interested parties to contact property owners.
This is, by far, not an exhaustive list of the best tools that real estate investors can leverage to improve their business. However, they are some of the most useful, most effective, and most efficient in helping buyers and sellers find properties, increase their ROI, and streamline their overall business processes.