Real estate investing requires extra work and an understanding of the industry to be successful. The advent of the internet has disrupted the industry. For example, some years ago, you need to attend paid conferences and seminars to know about the industry, but in recent times, you can learn so much about the industry online. This means real estate investing can be much easier if you know how to go about it. So, we will be discussing some resources you should be familiar with as real estate investors. Without further ado, let’s dive in!
For Buying and Selling Properties
Buying and selling is the foundation of real estate. However, when it comes to those two, making informed decisions is the only thing that can save you from disaster. If you need tools for finding properties, here they are!
Headquartered in Irvine, California, Auction.com is an online market place that focuses on foreclosed and residential bank owned property. As its name implies, the website allows both the buyer and the seller to come together in an auction-like setting. Unlike other real estate market places, this website is a superior technology platform that goes beyond the buying and selling of properties. It allows you to conveniently connect to auction—either online or onsite—from any of the 50 states in the U.S.
As an investor that focuses on the fix-and-flip strategy, Auction.com is a great tool to get connected to foreclosed and banked owned properties. With an extensive inventory of over 30,000 foreclosed and banked-owned properties, over 4.4 million registered buyers and sellers, and an impressive $39 billion recorded in sales, you have everything to find properties that interest you.
Zillow is also an online market place similar to Auction.com. It is also a property listing website that offers deep insights on any single family property of your choice. Created in 2006 by Rich Barton, Lloyd Frink, and Spencer Rascoff, the website aims to provide all of the data, inspiration, and knowledge about any property that interests the customer. Unlike Auction.com, Zillow does not only list depressed or foreclosed properties.
As the largest real estate website in the United States with information on over 110 million homes, you should understand why this tool is recommended for real estate investors. In addition to the value data provided, Zillow also offers several other features that help investors make an informed decision. Features like the price of comparable homes in the same area, value change in a given time frame, aerial view of homes and basic information such as the number of rooms, square footage, size of properties and so on.
For Property Analysis
Proper analysis of investment properties helps to prevent you from running into losses. Figuring out comps, checking property insights, and finding out if the property is worth investing in saves a lot of stress. Below are some internet tools that can help with this.
Mashvisor is an analytic website that was established in 2014. The website was designed to provide analysis of properties in the U.S. to investors. In the past, investors found it difficult to perform analysis on properties but with the availability of websites like Mashvisor, investors now have a wide range of information to perform research, which in turn leads to making informed decisions.
By using certain filters on the website, investors now have access to already made information on any property of their choice. Information like property insights, comps, analytics, projected ROI and other features are available to help determine the viability of a property for an investment.
Dealcheck was founded in 2015 by Anton Ivanov to provide accurate data for investors for accurate decision making. With Dealchecker investors can now analyze the cost and return on properties they want. This web app allows investors to calculate ROI, cash-on-cash ratio, cap rate, debt coverage ratio and other real estate analysis that can help investors make better decisions.
With over 75,000 investors worldwide, over 200,000 rental properties and over 170,000 flips analyzed, Dealcheck is a tool that is useful for both fix-and-flip investors and rental property investors. And like Mashvisor, it also draws data straight from the MLS, making it a great tool for investors.
“Collaboration is the key to success.” To be a successful investor, you need to be friends with likeminded people. This means that you need somewhere to seek help when something goes wrong or somewhere to learn about the trends in the industry.
Biggerpockets is an investor’s community website that allows investors (both old and new) to come together to share knowledge and experience. If you want to learn from more experienced investors, check out Biggerpockets.
Apart from being an online social community, Biggerpocket is an ideal tool for new investors that don’t want to spend much on courses and conferences. The website contains educational content and features that help individuals to collaborate and connects with others.