In a time where real estate investment is hotter than ever before, there are a number of great tools designed to help people make smart investment decisions. We discuss some of our favorites in our latest post!
As investors ourselves, we often come across many tools out there with the ability to give you an edge. Not all tools will work for everyone, we all have different preferences and different things we need assistance with. We hope that by sharing some of our favorite tools for real estate investors, you will be able to find and purchase an excellent investment property in the Metro Detroit area!
Bigger Pockets is a massive depository of articles and information for the real estate world. You can find articles on any topic imaginable, with contributions from top professional all across the country. The site also offers a social aspect, allowing you to connect with other investors and industry professionals in your area.
Realtor.com is one of the top real estate websites out there. You can find listing history, news and all kinds of educational resources. Even if you are buying without an agent, realtor.com offers a wealth of information.
Inman is subscription based service, however, it offers a wealth of articles and information for investors. This is the place many real estate professionals get their news each day. Many investors consider Inman their go-to source and couldn’t imagine doing business without it.
Property Management Tools
Rentometer is a great tool to find out rental prices in your area. You can enter any address and find out if the rent is too high or too low compares to other properties in the neighborhood.
Appfolio is a very popular property management tool that allows you to collect rent, screen tenants, handle maintenance and more. There is a robust mobile app so you can keep track of everything on the go.
Portfolio Management Tools – CRM
Zoho is a powerful CRM tool used throughout many industries. It levels of customization are highly desirable for real investors. Track properties and integrate with many other software programs.
Yardi offers a whole suite of products designed for savvy real estate investors. They offer property management software, investment management software, marketing software and much more. All of the products fully integrate, making it one of the most popular choices for real estate investors.
Everyone is likely familiar with Quickbooks, however, Xero offers an incredibly insightful dashboard that shows you real-time stats for your business. Xero is an excellent accounting platform for any industry.It is all online, with an excellent mobile application that is intuitive and easy to use.
Google Keep or Evernote
While it might be easy to jot down a quick note on a napkin or scrap piece of paper, you can keep yourself much more organized by taking this habit digital. We love Google Keep as it integrates with google docs and is highly customizable. You can jot down notes, add pictures, links and dictate notes via the microphone. Evernote is a widely used app that does many of the same things and links to a wide array of platforms.
Google Voice will allow you to text, receive calls and make calls all for free. There are voicemail capabilities and the ability to have multiple phones ring using just one number. Many people choose to use a Google Voice number for their investment business, with the call being forwarded to their personal phone. This allows them to separate business from personal calls and the ability to keep their personal cell phone number private.
Zoom is an excellent and reliable tool for holding video calls. One-on-one calls are free. There is a cost if you want to be able to talk with a team, however with its great service, the cost is definitely worth it.