Are you ready to make the leap into the world of Real Estate investing? This is an area where you may not be as experienced or familiar as you think you are. But you should know that expert help is available. You can lean on modern tech to help you make state-of-the-art investments in the modern world of real estate.
1. Property Listings Can Be Found on the Web
Thanks to sites such as Zillow, Trulia, and all the various agency sites, it’s now easier than ever to find current property listings and price comparisons directly over the web. As a result, property research in your target area is much simpler, making it almost effortless to come to a decision.
All of the research concerning the property, its value, and the value of properties in the area is more or less laid out before your eyes. So you can decide which opportunity to pursue. It all comes down to being able to analyze the deal and make the numbers work.
If you have been wanting to invest in a certain area but don’t have the necessary funds, you can make use of the info you get from a site such as Trulia to formulate your plan to raise the money. Once you know how much you need to raise you can attempt to raise funding. One modern way to do this is through a crowdfunding site.
2. Crowdfunding Platforms Make it Easier to Invest
You may not have anywhere near the amount total needed to close the deal on a property. But this doesn’t mean that you can’t invest in real estate. You may be surprised to learn that a new site called fundrise review allows you to buy a small piece of a Real Estate deal. Your minimum investment is only $500 for each deal so even a small investor can diversify their holdings over several properties.
One possible negative effect associated with such convenience may be a tendency to pull the trigger a bit too quickly. However, with a bit of sober reflection and adequate prior research, you should be able to resist this temptation. The convenience that you get from the web is no substitute for doing your homework.
3. Property Managers Can Be Found on the Web
If you decide to go the sole owner route, another piece of the puzzle can be found by researching property managers on the world wide web. Once you have acquired a new property, you will need to ensure that it is properly managed. To guarantee this, you should look into hiring a qualified and experienced property managing firm.
Hiring an experienced property manager can drastically reduce your headaches especially if you do not plan to live on the property or anywhere in its vicinity. Your property manager will handle the maintenance of the property, collection of rent, resolution of tenant disputes, and a wide host of other issues. The service that they will provide on your behalf will render this an investment well worth making.
Invest Like a Pro with Modern Tech
The rise of modern real estate investing platforms is due to a major upgrade in online tech. You can take full advantage of this upgrade to further your own aims as an investor. The sooner you begin to do so, the sooner you can enjoy a major increase in the quality and frequency of appreciation in your capital.
Tip from Quora:
Before Covid, when a tenant did not pay rent on time and I heard from our property manager that he was not intending to pay, I would go visit the family. I would talk to him outside since I had not notified them I wanted to come in.
They were usually apprehensive but I would be sympathetic to them and ask about their money problems. Then I would bring up that I had heard they would not be able to pay rent and that that might continue for quite a while.
Then I would drop the bomb. I would say: “Well I can offer you $500 in cash if you can be out by XXX (a day 3 days in the future). And I will refund your entire deposit.”
“All I need is to come in right now and look at any damage. It doesn’t matter how much there is or the cause, the only condition is that there isn’t any more damage after you leave.”
Suddenly I became the nicest man alive. I could always enter the unit and there was never any further damage.
On the appointed day, at the agreed time, I would show up with my maintenance guy, a giant ex-marine, and a receipt that said they were voluntarily moving our and I was paying them $XXX. As soon as they were gone, we re-keyed the lock and secured the sliding windows with blocks of wood.
I always gave them cash when they signed the receipt because many had a tenuous connection with the banking system and may have had their bank accounts seized. I did not want anything to stand between them and a motel room.
This is called “cash for keys” and it works. Many inexperienced landlords think it is wrong, but over the years it has beaten the costs of eviction, lost rent, and damage to the units by a mile. I can get all the court judgments in the world but they are uncollectible. By giving the tenant a part of the money he would have beaten me out of just on lost rent we both come out ahead. They get cash in their pocket and I get the unit rented to people who pay. Lawyers, court fees, and repair costs — they get stiffed. Source: Quora
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