Are you a real estate investor? Wondering what kinds of tools every real estate investor needs in 2023?
There are so many great tools that real estate investors can use to keep track of all of their investments and find new ones that they can add to their portfolios. It’s a great idea to use as many of these tools as you can to ensure that you are keeping as organized as possible. Let’s have a look at a few of the best websites and apps that you utilize to make sure you are getting the most out of your real estate investments.
What kinds of tools do I need as a real estate investor?
Investing in real estate can become complicated if you aren’t the best at keeping yourself organized. You need to ensure you are tracking new properties while you are successfully managing your current properties, so it’s a good idea to use whatever method you can to stay on track. We’ll go through a few great ideas that you can use to make sure your investments don’t get lost.
We’re going to start with a website that does way more than you think when it comes to real estate. Facebook is designed to allow people to easily communicate with each other and post their own content in various groups or pages, which is perfect for real estate investors who want to connect. Local Facebook groups offer great insights into different areas of town, and users often ask for advice on things like selling a home or finding an apartment.
You can use Facebook as a personal page, but you can also connect that page to a business page where you can post or converse with others as your business. You can post your own properties for rent or sale free of charge and receive tons of responses in your inbox within minutes. It’s a very underrated tool that many property investors should consider using if they want to stay connected locally.
Using an ad campaign for your real estate investment company is a great way to let others know about the properties you have available, but it can be hard to gauge how well they are actually working for you. A PPC (pay-per-click) ad campaign is one of the best ways to draw people to your website, and you will only have to pay every time someone clicks the link. You are able to generate leads on a daily basis, and you can adjust your budget whenever you need to, so it’s perfect for those who want to get the most for their advertising money.
Word Stream is one of the best tools that realtors are regularly using to track Google ads and to get a great idea of how well the clicks are converting. Their Google Ad Performance Grade will tell you how much traffic you are actually getting from your Google ads, and it will give you a grade to tell you how they are performing for you. It will also let you know areas that are not doing well so you can cut them out and focus on the amazing PPC ads that are bringing you
Many investors have started to branch out and buy properties that are not local to their current living situation. Roofstock has made it incredibly easy to view a property, buy a property and even hire a property management company without stepping foot outside of their home. The website is designed with investors in mind, and it showcases some of the best properties that would be appealing to investors.
They have also started to offer a new feature that helps you feel better about your initial investment. The Shop with an Agent program offers you a number of Roofstock-certified agents in the area you are considering, and these agents will help you through any issues or roadblocks that come along with your property purchase. They are considered to be the “boots on the ground” to help you ensure that your property is purchased and running correctly
which is perfect for those who want to start making some out-of-town purchases.
If you own multiple properties, then you might find it can be challenging to keep track of all of the expenses that are coming in and out. If you lose track of these, you might end up in a situation where your properties have started to lose money instead of earning you money. It’s a good idea to keep all of your expenses in line by tracking them as they happen.
Stessa is the perfect tool for showing you which properties are earning and which ones have started to end up costing money. The website also allows you to send reminders to your tenants before rent is due, create income statements and show you updated accurate time reports of how well your properties are doing. The website is perfect for investors, and you can also use Stessa to generate your finance reports at the end of the year, which makes it easy to submit them for your tax return.
Zestimate and Rent Zestimate
Zillow has become the ultimate place for people to browse real estate listings, but the website has also created some fantastic tools to help its real estate investors. Zestimate is a tool that uses user data combined with other available data to give you the market estimate of a home instead of the sale price so you can see whether or not the market is inflated.
Rent Zestimate uses the same data, but it also includes the average rental prices in the area, which can give you a fantastic estimate of what the average rent should be for a specific property. You can use this information and combine it with the Zestimate information to gauge whether or not the property will be a good fit for your investment portfolio. These tools are incredible, as Zillow is one of the best real estate statistics and information sources right now, so you know the numbers will be reasonably accurate.
This fantastic website is the best place to check out for short sales, bank-owned property sales, and foreclosures so you can get a tremendous deal. Many of the homes listed on this website are not listed on the MLS, so you have the upper hand when it comes to finding excellent local properties.
Keep in mind that some of these listings have limited photographs and information, so the website advises buyers to do a physical check of the property before they purchase it to ensure there are no major issues. Buying locally is the best way to do this, and the website makes it easy to bid on homes. Some of the homes available have a starting bid of only $1, so you might even be able to score the deal of a lifetime.
There are plenty of fantastic tools and websites that can help your real estate investment company keep organized. These tools are easy to use, and most of them are free, so you don’t need to worry about paying for another service. Real Estate investment can get complicated very quickly, so use one or all of these great ideas to stay ahead of the game.