To succeed as a real estate investor, you need to know how to use the available tools and resources as efficiently as possible. You likely aren't going to have hours upon hours every day to sit in your office and mull over the numbers, search for hard money lending options, scout potential properties and reach out to potential buyers. Rather, you are going to be a mobile operation, spending more time at your investment properties than you will behind a desk.
From assessing your potential profit to determining if a particular hard money lending option is the right fit for your investment, these apps will make you a better real estate investor:
1. Property Fixer
The Property Fixer app is an essential mobile tool for any real estate investor who is interested in flipping houses quickly for a profit. In a matter of minutes, you can determine whether or not a property is worth the investment. Some of the features of this app include property analysis tools as well as holding period tools that allow the user to determine what the profit will be after a specific amount of time.
This is the social network that real estate investors need to be a part of, and the mobileapp is an easy way to keep in touch with investors and lenders from across the industry. The BiggerPockets app makes it simple to browse the different user forums, post questions, respond to threads and create a powerful network of real estate investors. It also offers property analysis tools and report generators.
3. Sign My Pad
Perfect for the real estate investor who does a lot of deals, Sign My Pad is an editable PDF tool that allows you to read, sign, save and send documents.
The Zillow mobile app allows you to keep the latest MLS findings right in your pocket, while also giving you a simple way to generate comparable price reports about similar properties in a given area. Whether you're hoping to discover new investment properties that have recently been listed on the market, or you want to find out if your existing property is ready for sale based on the comps, Zillow can give you the accurate information that you need as an investor.
5. 10BII Calc HD Financial Calculator
At the end of the day, every deal comes down to dollars and cents. You need more than just a standard calculator to determine whether or not a property is worth it, and the 10BII Calc HD Financial Calculator is a mobile tool geared specifically toward real estate investors. Features include time value of money calculations, amortization, loan payment calculation, cash flow analysis and interest rate conversion — just to name a few.
The MagicPlan app provides investors with a fun way to easily generate floor plans of a potential investment property. Add objects and design elements to promote your property to buyers, or quickly create room measurements that can be used to get accurate estimates for upcoming projects with your investment property.
Using these mobile apps, you'll be able to evaluate a property on sight and determine whether it's a solid investment. In addition, you'll be able to quickly communicate with your investment team and select the hard money lending option that is right for your investment strategy.
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