Moreover, advancements in technology have made the process more straightforward and convenient for anyone who wants to become an investor.
Here are some of the best real estate investing business apps that you can use to jumpstart your career:
Zillow
The Zillow app is an online real estate database that allows investors to find potential properties or post their listings. It generates revenue primarily through advertising on its platform. It’s one of the most popular real estate apps since it pioneered the development of online home value estimates, sale prices, and other valuable insights for buyers.
Its key features are:
- Current Listings– Homebuyers and investors alike can browse through thousands of available listings on the mobile app. Other information provided by the listings include whether the owner is selling the home or commercial space, or if it’s a foreclosure.
- Payment Calculator– The app also has a nifty built-in calculator that allows you to determine how much you’ll end up paying monthly according to the sale price and down payment. Additional filters include accounting for homeowner’s insurance costs, private mortgage insurance fees, and other monthly dues.
- Compare Rates– It has a feature that enables you to sort through listings based on the total purchase price, estimated down payment, and your credit score. With this, you’ll get real-time rates from various lenders that are customized to your needs and financial capacity.
- Local Data– Zillow provides a “Local” section that gives homebuyers and investors information about the people, neighborhood, and photos of a particular area. This can give you more insight into whether the investment can boost your real estate income.
- Zestimate– As mentioned above, one of Zillow’s most notable features is its Zestimate function, which gives users the estimated market value of the property they’re eyeing.
BiggerPockets
BiggerPockets describes itself as a real estate investing social network. It also serves as an information hub and marketplace. They have a broad range of materials about the topic from blog posts, ebooks, guides, forums, and podcasts. Brandon Turner, the company’s VP of Growth, also authored The Book on Rental Property Investing, which serves as the ultimate guide to real estate investing.
The team aims to help people become real estate investors and build their wealth through the industry. They have over one million real estate enthusiasts in their community, and their network is growing. Aside from connecting with fellow investors, the app has tools to help you assess the value and profitability of a particular property.
Some tools that they offer to members include:
- Fix and Flip Calculator– This analytical tool can help you identify your potential profit on a real estate flip, which can save you from paying too much on a property that may not provide the best return on investment or ROI.
- Rental Property Calculator – With this feature, you can calculate the monthly and annual cash flow, as well as return on investment of a deal.
- The Wholesaling Calculator – This one helps you determine the maximum purchasing price. It gives you two versions for cash buyers: one for house flippers and another for other rental property investors.
- BRRRR Calculator– The BRRR or Buy Rehab Rent Refinance Repeat calculator analyzes cash flow and ROI on a deal. It also allows you to identify essential metrics when refinancing a property.
LoopNet
If you’re looking to buy and rent out a commercial property,LoopNet is the app that you should join. It’s an online marketplace that caters specifically to multi-unit and other similar listings. You can review the property catalog, photos, and additional information, such as financial specifics.
These are the app’s features:
- Advanced Search– LoopNet allows you to customize your search according to your needs. You can tweak and trigger different criteria as well as filters to display the most relevant results. There’s also an option to adjust your search based on your geographical location.
- Comprehensive Information– The listings provide sufficient information to help you with your research. Details included in the listings are property data, photos, videos, location, street view, and financials.
- Saved Searches– For easier access, you can save your searches and get notified of updates on a particular property.
Conclusion
You can choose to go full-time on real estate investing or do it as a side hustle because these apps have made it easier to manage your properties anywhere and anytime. IDX real estate is available to assist too. As with any industry, though, you should always do thorough research before buying a home or commercial space to ensure that you get the most ROI for it.