Real Estate Investment in the Digital Age
The sleeker technology has gotten, the more it’s changed the real estate investment game and the more we’re capable of handling from the palm of our hands, literally. While sure, clunky machinery like copiers and fax machines are still spotted in most, if not all, office spaces, their relevance continues to grow more and more obsolete.
Moreover, the way investors now connect with each other, with other professionals in the industry, and the way they scout out their next opportunity has shifted to a pre-dominantly digital stage. In the age of instant gratification and instant access, investors can now map out their business plan with just a few keystrokes and strategic app downloads.
To find the property
We can get back to the basics here but there’s a reason why Zillow is one of the most recognized sites for finding properties. Beyond browsing available listings and digging into home values, Zillow provides surprisingly granular data on properties and neighborhoods. What’s more? Investors can use the platform to list properties either for sale or for rent –directly from their smartphones.
The app makes the deliberation that much easier by offering property details in real time.
Connected Investors is another app – available on both iTunes and Google Play – that provides investors with a network of both people and investment opportunities. Free to download and use, the app provides investors with market-specific deals that may not pop up in local MLS listings.
To buy the property
If copiers and fax machines have been fading out, that means they must be replaced, and you can’t really seal any deal without crossing your t’s and dotting your i’s. DocuSign does away with the stacks of papers and instead offers real estate professionals the option to get business done digitally. The app allows people to e-sign contracts, lease agreements, disclosures, and more. Of course, security with confidential documents is of the utmost importance, and DocuSign sets the standard for guaranteed security using top-of-the-line encryption and protection.
DealMachine offers investors the opportunity to scout out properties and contact the owners directly via email, mail, or phone call. Sometimes it’s the seemingly easy step that halts a prospective project’s progress, and DealMachine addresses one of the bigger obstacles investors encounter: soliciting owners and expressing interest in their property.
To analyze a property
If you’re looking to specifically fix-and-flip properties, then PropertyFixer might be the most helpful app you download. Property Fixer helps investors estimate repair costs while also giving insights to cost breakdowns, i.e. taxes and insurance. Ultimately, the app strives to offer a quick but accurate snapshot of property renovations, potential returns, and everything in between.
In a similar vein, DealCheck dives even deeper in to number crunching for prospective rental properties. Free to use and download, the app also has a pro upgrade that provides added functionality (i.e. MLS updates, unlimited reports, and property photos). More thorough than a basic calculator but easier to navigate than a spreadsheet, DealCheck can be an invaluable resource.
The reality is that smartphones are surpassing computers’ performance benchmarking tests, so why not use yours to the max? With a healthy mix of apps that address different aspects of property investing, you can be well on your way to snagging your next project with all the confidence of someone who has the answers in their pocket.
If you’ve already done your research and are ready to dive into your next investment opportunity, contact Temple View Capital today.
Disclaimer: This article does not constitute tax, legal or investment advice, nor should it be viewed as a recommendation or endorsement of any investment strategy or platform. It is to be read for informational purposes only.