How Better Tech Makes Being a Real Estate Investor Easier Than Ever

Millions of people like the idea of investing in real estate. With a good rental property, you can generate a consistent monthly profit. If you buy a property in a growing area, you might multiply your wealth a few times over if you hold that property for long enough. And if you have the knowledge and skills necessary to flip properties, you might position yourself to make sizable profits with properly timed transactions.

Unfortunately, being a real estate investor is typically challenging. Most people don’t have the motivation, resources, or past expertise to pursue this method of wealth accumulation.

Thanks to modern technology, that’s already starting to change. Better tech is making real estate investing easier than ever – and you, too, might be able to take advantage of that.

1. Property Management Companies

If you’re willing to hire a company like Green Residential, a Houston property management company, you can take out most of the manual effort and guesswork required of real estate investors. Your dedicated property managers can help you choose the right properties to add to your portfolio, screen tenants, market your property, conduct maintenance and repairs, collect rent, and even handle evictions when necessary. In exchange, you’ll only have to pay them a recurring management fee, based on your gross monthly income.

There are still some challenges to face as a real estate investor, even with an excellent property management company at your side. For example, you’ll still need to generate enough capital to make a down payment on your first property, and the final decisions are still going to be yours to make.

Still, modern property management companies with access to better management and communications technology can take most of the effort out of this process.

2. Tech and Real Estate Investing

There are many types of technology that assist real estate investors, such as:

Listing platforms. Online listing platforms make it easy to list your existing properties for sale or find other properties for sale worth exploring. Oftentimes, these platforms are inexpensive or free, though they are highly competitive. With a quick search, you can generate a list of dozens of properties worth buying in your area, and you can quickly narrow them down based on their listing price, square footage, amenities, and other features. If you know what type of property you’re looking for, you can generate a list of potential investment candidates in just a few minutes.

Virtual tours. Virtual home tours aren’t perfect, but they do have enormous potential. Thanks to 3D mapping and VR technology, you can explore the interior of select properties in full, even if you’re living all the way across the world. If your schedule is so busy that touring properties is inconvenient, or if you’re interested in investing in properties remotely, this is a huge advantage.

Social media. Social media isn’t exactly new, but it has radically transformed the world of property investing. You can advertise properties for sale, list properties for rent, and engage with other real estate investors and market experts on a regular basis here.

Property management software. Property management software makes your life much easier as a landlord, giving you access to automatic notifications, rent collection features, documentation and organization features, and much, much more.

Ultimately, these platforms provide you with:

More options. You’re no longer limited to a narrow range of properties generated for your perusal by a real estate agent. You can view and remotely tour properties all over the world, based on any specifications you choose.

Remote viewings and management. You can at least begin your property search with remote viewings and management. This is highly beneficial for people interested in diversifying their real estate portfolios with holdings in many different areas.

Due diligence. Before you commit to any property purchase, you need to do your due diligence. But that’s much easier to do with access to social media and various real estate resources across the web.

Marketing and advertising. In the span of an afternoon, you can put your property in front of thousands of people, just by listing it on major platforms and promoting it on social media. Effective marketing does require some consideration and deliberate practice, but technology helps considerably.

Networking and connections. Through social media, you can discover and engage with countless prospective partners and advisors in real estate.

Communication. Through real estate management platforms and other tools, you can streamline communication – and face far fewer conflicts.

Automation. It’s hard to overstate the value of automation in any productive operation. With automated reminders for rent collection, maintenance items, and even taxes, your life as a landlord will become much easier.

Documentation and organization. Keeping all your paperwork and records organized is half the battle. But with modern technology, your records can be kept digitally and meticulously.

Knowledge, experience, and mentorship. Engaging on social media and working with other moguls through technology gives you access to more knowledge, experience, and even mentorship in some cases. If you’re just beginning your journey as a real estate investor, this is invaluable.

As technology grows more advanced, even more people are going to get access to real estate investing opportunities. As long as you’re willing to continue doing your due diligence and work with genuine experts, you have a good chance of being successful in this market.