Although the real estate world was late to the party when it came to adopting technology, property investors will be pleased to know that there are a number of tech tools out there that real estate moguls can use to increase their investment earnings. Just like in other industries, digital technology and online networks have made it easier than ever before for real estate investors to scale their businesses and grow their holdings.
This article will outline a few online tools and digital networks that savvy real estate investors should consider adding to their arsenal as they build their business.
Finding Sales Comparisons with Zillow
Zillow is a real estate listing website that offers a wide range of tech-related benefits for real estate investors. Zillow allows users to quickly compare current listing prices and market trends to see if they are making a fair offer on a particular property. If you’re thinking about placing an offer on a fixer upper in a college neighborhood, for example, Zillow lists the prices of all recent sales in the property’s neighborhood, giving you a good idea if you’re making an offer that will allow you to win the property. Zillow’s quick comparison feature makes it an indispensable digital tool for real estate flippers.
Online Communities for Real Estate Investors
Another tool real estate investors should consider utilizing is real estate-specific online networks. If you’re on Facebook, poke around and find the real estate investment groups for your area — there are sure to be a few! These groups — as well as Facebook chat groups that were made for landlords — are a great way to learn about local real estate events, foreclosures, and auctions.
For investors wanting to join a broader digital community, a popular real estate forum to look into is Bigger Pockets. This forum brings together real estate enthusiasts from around the United States to trade tips and tricks on the latest real estate investing trends.
Tools for Landlords Wanting to Estimate Rent
Depending on your real estate investment strategy, figuring out how much to charge your tenants for rent could be an important step in building a more sustainable, long-term real estate portfolio.
For aspiring landlords, a tool like Rent-O-Meter is a great way to ensure that what you plan on charging your tenants is in-line with what they might expect to pay elsewhere for something comparable.
Zillow also offers historical rent information on properties, making it just one more reason to acquaint yourself with the site if you want to consider yourself a tech-savvy real estate investor.