Few investors talk bout the tech they use when transacting property. Why? Because technology is so common that many investors assume people just automatically know how to use them when investing in property.
Perhaps, this Rick Otton podcast is one of the few pieces of content that actually focused on how to use technology during your transactions. Of course, this post your reading is another one!
Years of experience in the field have allowed me to gather invaluable information on this topic. As technology has advanced and as more and more people have become open about how they make their money through remote property investment, this list has grown. There are Apps, books, websites and property investment forums that will come in great handy for any newcomer in the business. And with that, here are the best apps and resources for remote property investors:
The MLS Apps:
Zillow.com, Realtor.com, Redfin.com, Trulia.com, etc. – These Apps are listed together because they fall in the same category, they all show listings that can be found on the MLS. Of course, being different Apps, they all have different features that need exploring, so feel free to download and try them out to find which one suits you best. The best part is that all these Apps have a ‘maps’ option that gives you direction to the listed properties. This makes it easier for investors, especially remote investors who will be visiting, to find the listed properties without relying on directions from the locals. Another feature is that they show which properties have been sold already. Couple this with the ‘maps’ feature and you have an efficient way to cancel out needless property viewing trips and you can also get to see what the going rates are for similar properties in the neighbourhood.
This is the perfect App for those who are interested in commercial listings. It is also a wonderful way to find newly listed HMO properties in any neighbourhood. Listed in this App, you will find office buildings, restaurants, HMOs, shopping malls and so on. However, only those who have paid for the premium version get to see every listing. Free users only get to see a few of the lucrative options available. So this is something that you might want to think about paying for as part of your real estate resource investment. The premium version goes for $70 (about £52.47 at the time of writing).
“The Book On Managing Rental Properties” (2015) by Brandon and Heather Turner:
Just because you closed the deal on that house does not mean that your job is done. Unless you intend to renovate and sell immediately, there is a lot that you need to learn about property management. This a wonderful book that is a great resource for those who intend to manage their own real estate properties. It actually outlines the basics of what needs to be done on a day to day basis, shows you how to screen tenants and gives you tips on how to properly and efficiently collect rent. It also gives you a complete run up on the most important clauses to include in your lease agreements. Even if you do not intend to manage your own properties, it is still a wonderful resource that will keep you informed and educated about the entire process.
Of course, there is this wonderful blog by yours truly. I will be bringing you important real estate investment news and information on a regular basis. Through the comment section, we can help one another and learn through our collective investment knowledge and experience.