The more advanced technology has become, the more it has altered the real estate investment landscape—enabling investors to accomplish a wide range of investment-related task right from their phone. Just as importantly, technology has enhanced our networking and sharing capabilities significantly, allowing investors to effortlessly connect with fellow real estate professionals to locate, purchase and fund new deals. Breaking into the real estate investment sector is literally only a few clicks away.
Finding the Ideal Investment Asset
Selecting the right investment property that is aligned with your long-term investment strategy is an essential step for successful real estate investors. Digital real estate platforms like Zillow have made it easier than ever to obtain pertinent data for properties across the country so you can assess key metrics like potential ROI, listing price and neighborhood information. Additionally, the site also allows investors to market their properties to viable tenants or buyers—all from the convenience of their computer or cell phone. Having all the information you need almost instantaneously provides investors with a notable advantage in today’s ultra-competitive market, allowing them to make informed buying and selling decisions with minimal delay. Investors may also consider mobile applications like Connected Investors, which aggregates fellow real estate professionals and potential deals that may not appear in regional MLS listings.
Acquiring Investment Properties
Gone are the days of mountains of paperwork and endless signature lines associated with closing a property transaction. Innovative and super convenient mobile applications such as DocuSign eliminates the need for paper altogether and allows for the digital processing of real estate documents. All involved parties can quickly and easily review and sign off on contracts, lease agreements, disclosure and bank documents. The app offers state-of-the art encryption and security features to ensure all data is protected and stored safely.
Another great technological advancement is DealMachine, an online platform that allows investors to digitally search properties and directly reach out to the owners by email or phone. Often it is the most basic tasks that hold up a potentially lucrative deal from moving forward, and this application takes care of one of the most imposing hurdles investors run into: soliciting homeowners and letting them know they are interested in acquiring their properties.
Evaluating Potential Investment Deals
For investors exclusively searching for viable fix-and-flip deals, the PropertyFixer app is an extremely useful tool that makes it easy to forecast renovation budget and providing key insights regarding expense breakdowns (i.e., taxes, insurance, permits, etc.). Investors now have the ability to quickly tap into an accurate analysis of the costs associated with potential fix-and-flip deals so they can calculate hypothetical return on investment and ultimately decide whether or not to commit to a deal.
A comparable application for the rental market is DealCheck, which offers an even more in-depth data analysis for listed properties. This free and user-friendly platform provides a thorough break down of projected costs, expected net profitability and more while offering real-time MLS updates and up-to-date property images.
Get Started Today
The stark reality is that technology is increasingly becoming an integral component of the real estate investing marketplace. Real estate investors should leverage the numerous benefits offered by digital innovations to optimize their workflow and enhance their profitability. Embracing proven technologies and having the willingness to proactively explore emerging ones is a great mindset to have that will keep you relevant and competitive in an industry that is constantly evolving.
The perfect complement to a thorough understanding of available investment technologies is a trusted lender that can provide you reliable and efficient access to the capital you need to close deals. That’s exactly what you can expect when you partner with Coastal Capital Funding, a direct private lender with over three decades of experience assisting successful investors throughout Virginia, North Carolina and across the country. CCF provides quick, efficient, common-sense funding solutions that conventional lenders simply cannot content with. Contact us today to learn more about our comprehensive range of funding solutions!