As a real estate investor, you’re always looking for ways to streamline your business and make it more efficient. These tools will help you do just that.
From market research to property management, these tools will make your life easier and help you become a pro at real estate investing:
1. Google Trends
If you want to know which areas are up-and-coming, look at Google Trends. This tool tracks the search frequencies of specific keywords over time, allowing you to see how many searches there are for something and whether the results are going up or down.
So if you’re thinking about buying an apartment building in Detroit, you can check Google Trends to see if the search volume for “Detroit apartments” increases or decreases.
Important Note: Don’t make buying decisions based on this data alone. Instead, think of this tool as a way to spot trends so that you can act accordingly.
Deckspire’s Realport is a real-estate listing aggregation platform. You can search across multiple MLS listings simultaneously, saving you time while giving you a better idea of what’s out there. Enter your criteria and search for properties in Atlanta, New York City, or anywhere else in the United States.
It also provides you with a summary of each property and the price history, which is excellent for investors who like comparing their options and doing extensive research before making a big purchase.
3. Fund Flip Platform
One of the incredible ways to invest in real estate is fixing and flipping. You buy cheap property, rehab it, and sell it in the market for a higher price.
Many would-be investors, however, struggle with funding. They may not qualify for conventional mortgages because of their high debt-to-income ratio or low credit score. Some lenders can look past this, but this is in exchange for an incredibly high interest rate.
A fund-flip system provides all-in-one support for flippers. They receive access to financing and real estate investing software for MLS searches, data analytics, and so much more.
Redfin is another excellent tool for investors, allowing you to track listings in your chosen neighborhood or zip code. You can also get detailed information about properties, including price histories, 3D floor plans, neighborhood information (crime, schools, etc.), and sold prices for comparable houses.
Redfin doesn’t have as much information as Zillow, but it’s a good supplement. The site is beneficial for investors who want to make offers on multiple properties at once.
Zillow is one of the most popular sites for real estate information. You can take advantage of features, including the home-price estimate, which allows you to get basic information on any property.
Zillow is also beneficial for investors who like the convenience of having everything in one place. The site has listings, price histories, crime reports, and school comparisons—all you need to make an informed purchase decision.
Craigslist is an ideal tool for finding properties that aren’t currently on the market. If you’re looking at a house and it’s never been listed, don’t assume that means there’s something wrong with it. The homeowner might want to sell through another agent, or they may be planning to do a quick renovation before putting it back on the market.
Don’t let these unknowns stop you from making the deal. If you see a good but not perfect property, take your time to research comparable properties before putting in an offer.
7. Yardi Matrix
Yardi Matrix is another tool for finding properties, even if they aren’t currently on the market. This platform gives you access to hundreds of apartment units across multiple countries. It also provides information about each complex, including rent prices, current occupancy rates, average household income, demographics, and so much more.
This transparency makes it easy for investors who want detailed data without extensive research. If you’re considering investing in apartments or need help with condo-to-rent conversions, this software will be a huge help.
Yeah, we know: Google is a search engine and not a tool. But if you run out of other options, it can be an incredibly effective way to find properties.
Just do a basic real estate search on the MLS website, and you’ll get access to dozens of listings across multiple states. Many of these will be higher-end homes, but you’ll also find plenty of potential properties to explore.
The five tools we’ve listed are just a sampling of the resources available to investors. No matter your level of experience, you can find a tool that makes the process easier.