Real Estate investment is a lucrative industry. There are plenty of ways to go about it, but most people don’t even know where to start. The best way to get your real estate investing career going is with the help of some great apps.
The first app, called [app name 1], is designed to help you find properties that you can acquire with very little money down and then flip for a profit. [app name 2] will help you find foreclosure properties that are easy enough to acquire and quick enough to turn around and sell for a profit before anyone else can get their hands on them. And [app name 3] is an all-in-one app that helps you manage all of your properties, keep track of your income and expenses, generate reports on your holdings, and more.
Table of Contents
Best Apps For Real Estate Investors
Apps have transformed the way people conduct real estate investing as much as the internet has in general.
With apps, entire devices like fax machines can be replaced, 3D models of rooms can be generated, calculations can be made in moments, and homes can be found, bought, and sold instantly.
Here are just some of the best real estate investing apps for 2021.
In under 10 minutes, you can be investing in actual parcels of farmland. Your choices are guided by what you want to get out of investing. You might be investing in everything from California orchards to Midwest row crops. Usually, you have 1 to 3 options to choose from, and you can view maps, photos, documents, and projected financials before investing.
With ArborCrowd, you can buy and sell multi-family housing, usually apartment complexes. Some markets that ArborCrowd has worked in include Brooklyn, Florida, Miami, and Manhattan. The investment minimum is high, but ArborCrowd does a great job studying the potential risk for every investment.
If you don’t have a problem with buying or selling real estate online, then Auction.com is for you. Properties are sorted by date, location, and keyword. You can even see pending foreclosures and study bank-owned properties in great detail! The listings change quickly, however, so you have to act quickly! Although, given that you won’t be seeing the properties in person, you won’t know what you’re getting into.
BiggerPockets is an indispensable resource for real estate investors. Their app comes packed with blog posts, podcasts, ebooks, guides, etc. It’s a resource that teaches people to be better real estate investors and better homeowners as well!
CrowdStreet pairs accredited investors with project developers who’ve gone through a thorough screening. You choose which properties to invest into or invest into CrowdStreet’s funds. The minimum buy-in varies, but in most cases is at least $25,000.
DealCheck is an app that gives you the important metrics you need to make real estate investment decisions. That includes cap rate, rent to value, cash on cash return, and more from various sources that you can import.
DealMachine lets you cold email potential investment opportunities.
E-signatures are a real-time saver because you don’t have to hunt down a printer or resort to a fax machine to transfer your paperwork. One of the most popular e-signature tools, DocuSign, lets you sign with any mobile device or computer. There are no limits on how many documents you can sign, and you can both send and receive paperwork anywhere. All these options are free, although paid plans let you use personalized brands, bill people, and much more.
DiversyFund lets you buy a stake in DiversyFund’s DF Growth REIT (real estate investment trust), a public, non-listed REIT. The REIT does not have a high barrier to entry. These types of REITS must register with the U.S. Securities and Exchange Commission (SEC) and are subject to an annual audit. This gives investors a level of transparency that isn’t found in private REITS or other types of real estate investments. DiversyFund is for investors who are willing to go the long-haul because DiversifyFund reinvests all its dividends, which means you won’t see any profit until properties are sold.
FarmTogether lets you invest in farmland and agribusiness like orchards and crops. It lacks a mobile app, but its website has a calculator that will estimate your net returns depending on how much you invest. There are strict investor income minimums: $200,000 yearly for an individual or $300,000 per household. Your net worth must also be $1 million at a minimum, and you must be committed to maintaining this income and net worth for the next few years.
- Free Rental Agreement Templates
Using free rental agreement templates, you can customize your lease agreement to fit all your needs. You can institute smoking bans, put together a questionnaire to allow and disallow running businesses out of your rental property, specify the conditions for early lease termination, and more!
Fundrise lets accredited and non-accredited investors get into crowdfunding real estate and REITs. Fundrise’s minimum investment is $500, which is a low barrier to entry. The app is an opportunity for people investing in single-family homes or multi-family homes to invest in different types of commercial real estate or invest in markets far from home.
GroundFloor lets both accredited, and non-accredited investors make fractional investments in venture loans to real estate entrepreneurs that GroundFloor originates and maintains. The return on typical loans is 10% annually on a 6 to 12-month term. Every loan on GroundFloor is rigorously screened based on the borrower’s experience, credit history, and business plan. You also get to find out the value of the property both as-is and after rehab.
HomeSnap lets visitors visualize your investment property as their home by using staging that more reflects their personal style. They can also more easily see property lines. HomeSnap connects to both Apple TV and Apple Watch, has in-app messaging, and you can take pictures of the property to get all the data and records.
- Rental Returns Tax Calculator
Using this free Rental Property Return Calculator from Mynd, you can get an idea of your expected returns and cash flow and see how your returns change based on your financing choices and what your returns look like after taxes.
Get access to the interior and exterior design inspiration, listings of local professionals, real estate agent listings, and the option to decorate your room in 3D.
LoopNet is ideal for investors who are strictly interested in commercial real estate. Users get in-depth reports that include pictures, street views, videos, investment details from brokers, and neighborhood stats. You can filter your searches using many categories and set alerts for properties you want to keep an eye on. LoopNet was started in 1995, so it’s weathered the test of time.
- Magic Plan App
Magic Plan App truly feels magical. Step into any room, start scanning with your phone, and immediately you can generate 3D models, save measurements, and create floor plans. You have access to over 1,000 objects to place and move around your 3D space. Then share your creations with anyone you like or save them to the cloud.
- Path by Origin
Path by Origin screens REITS that meet its strict criteria, which effectively means your investment benefits from the experience and active involvement of real estate professionals. A brief questionnaire about your net worth, risk tolerance, and personal information is all it takes to get started. Then you can track your balance using the app.
- Personal Capital
Previously, Personal Capital was primarily used to track your income, cash flow, and net worth. Now the app can be linked to your real estate investments using Zillow’s Zestimate.
- Property Fixer
If you want to flip properties, then Property Fixer is for you. It lets you put in property info and then estimates the cost of rehabbing it. The app also gives you a robust report about the neighborhood the property is in and nearby properties so you can see if it’s worth the effort to rehab. Finally, the app will tell you what sort of mortgage you’d need to cover the cost of the purchase and repair and how much you’d have to pay monthly.
- Real Estate Dictionary App
There’s a lot to learn when it comes to real estate investment–that’s why the Mynd Management Real Estate Knowledge Center is so vast. Real Estate Dictionary App lets you have a glossary of investing terms at your fingertips. It covers everything from closing costs to legal real estate entities.
Find the best deals, keep up to date with the latest buildings to go on the market, and manage your team with DealMachine. The Driving for Dollars feature tracks members of your real estate investment team as they drive around, hunting for deals, exploring open houses, performing self-showings, and more so that each place is only paid a single visit.
You can also get reports on the properties that got viewed, which includes their price listings and comparable properties. At the end of your calendar year, the app will produce a full report using a spreadsheet that shows how many miles were racked up by each driver. This can help you make a mileage deduction for your business.
With Realtor.com, you can search for investment properties using various metrics like price, type, and time spent on the market. Each property comes with interior and exterior photos, house details, and information on the locale. The listings, however, are based on their current market value as opposed to whether or not the property is undervalued, which is information that would be particularly useful for an investor.
Rentometer compares the rent of similar properties in your neighborhood so that you can more effectively set a competitive rent. All you need to use the app is the number of bedrooms and the rental property address. The premium version of the app lets you view those comparable properties. Just don’t forget about the average or hidden costs of rental property maintenance.
- Rent Collection Apps
Rent collection apps remove mail service from the rent collection equation, which means tenants can pay without fear of checks being delayed or lost. Additionally, rent can be broken up into smaller pieces or paid on more convenient days of the month. Is a tenant consistently late with rent? Maybe they won’t be if the due date is moved or the amount is broken up into more manageable pieces.
Rent collections apps may also be just a part of large suites that let you manage communication, delegate responsibilities to contractors, make announcements, etc. They’re becoming very commonplace, so not using one may make you seem like an investor that’s out of touch.
- Scanner Pro
Like DocuSign, Scanner Pro eliminates the need for technology, in this case, scanners and, yet again, fax machines. It’s a tool that detects the border of whatever you’re photographing so that you only have the document to work with (and not its surroundings). Once the photo is on your phone, it gets converted to a PDF and can be saved to Google Drive, Dropbox, etc. Scanner Pro is sophisticated enough that you can copy and paste text from the document!
- USHUD Foreclosure Home Search
With the USHUD app, you can look for all sorts of foreclosed or bank-owned homes, ranging from luxury to middle class to condos and more. Along similar lines, ViewHUD Foreclosures Database is a great way to access that information. Since this information comes from the United States Department of Housing and Urban Development itself, it’s more accurate.
Yieldstreet is an opportunity to invest in real estate, marine projects, art, and more. Yieldstreet also provides loans so that you can make a variety of different investments. The app provides details on each asset, including the maximum and minimum that you can invest, plus how long you’ll need to keep your money invested and the expected return. Yieldstreet also provides an FDIC-insured Wallet to save your money for future investments and allows users to open up a traditional or Roth Yieldstreet IRA. Some of the app’s options are only available to accredited investors.
Xome is another marketplace that lets you browse auctions, the difference being that some homes are exclusively auctioned on Xome. There are bank-owned properties, foreclosed, short-sale, and standard home listings on Xome that are available nowhere else.
With the Zillow app, all you need to do is type in the address of your prospective investment, and you’ll receive a report that includes the number of bathrooms and bedrooms, the square footage, the lot size, and the last time the property was sold. You can also narrow your search based on your investment priorities and by zip code.
- Cap Rates Calculator
Capitalization rate, also known as cap rate, is one of the best ways to easily and effectively analyze a real estate investment deal to determine if further due diligence makes sense. Use this calculator to evaluate properties, compare options and gauge your rate of return when considering a rental property.
With these apps at your disposal, not only can you conduct your real estate investing from a well-informed position, but you can also do it in an instant.
The playing field has been leveled, and now investing in real estate and conducting business is accessible to more people than ever before!
virtual real estate investing app
When most people hear the term virtual investing, they often think about crypto-currency, NFT’s, or purchasing digital land. But, you may be surprised to hear that there is an investment technique called virtual real estate investing that is not nearly as speculative. Here is a look at the concept of virtual real estate investing and how you can get in on this exciting trend.
What Is Virtual Investing?
Virtual real estate investing doesn’t refer to the purchase of digital land or property, it refers to the practice of buying a physical property anywhere in the country, using online tools. This means utilizing real estate software to scout deals, finance projects, analyze the numbers, and make purchases all from the comfort of your own home.
The geographic barriers that once prevented investors from expanding across the country without the infrastructure of a major corporation have now been broken down thanks to the internet. Anyone with some money to invest or a decent credit score can now scout and purchase properties all around the country and earn passive income without ever actually setting foot in the location of their investment.
Of course, you must still do your due diligence and put proper systems in place to manage and maintain your investments. But the internet now allows you to handle these tasks from a remote location, so you can expand your empire all across the country (or even the world).
How To Start Virtual Real Estate Investing?
Like any other form of investing, virtual real estate investing requires hard work and careful planning. However, thanks to technological advancement, you can now do most of that work using a laptop and a cellphone. But you have to know where to begin to get the most out of this technique.
Although investing in real estate virtually does eliminate some of the difficulties of purchasing homes in your own area, it also comes with its own unique difficulties. You won’t be able to view the property in person and won’t necessarily have as strong an understanding of the neighborhood and surrounding area as you would if it were your own hometown.
That’s why it’s vital to do your research if you’re thinking of getting involved in virtual real estate investing. It isn’t any more or less risky than any other type of investing, but it presents unique challenges. Once you’ve done your research and decided what market you want to invest in, it’s time to start making moves. But first, you’ll need the proper tools to get started.
Tools You Need to Get Started:
Basic Tools: This includes the basic technology you need to run an online business, including a laptop, smartphone, internet connection, printer, and/or scanner.
Property Research Sites: This includes sites you’ll use to scope out potential properties, including Zillow, Google Maps, Google Earth, and local government websites.
Other Professional Tools: It’s also important to have a basic suite of professional tools at your disposal to handle important communications and closings. This includes products like DocuSign, G Suite, DropBox, Microsoft Office, and any other program you think may be helpful.
Once you have a handle on the basic tools needed to scout properties and manage your workflow, you’re ready to get started. But in order to actually find and close deals virtually, you may need additional software.
Online Platforms You Can Use
There are plenty of handy real estate platforms available online that you can use to your advantage when looking for investment properties. Here are a few that may be useful for virtual real estate investing.
FlipScout Real Estate Investing Search Engine
FlipScout is an online tool that uses data and artificial intelligence to help investors make smarter decisions. It works for both flips and rentals and allows users to search for properties and track important metrics like rehab costs and rental income. Plus, it’s free and allows users to search for properties all over the US.
RoofStock is an online real estate investment marketplace that allows investors to purchase rental properties anywhere in the country. Listings are analyzed by an experienced team at the company and contain useful information such as the gross yield, market rent, and net cash flow. It also features helpful financing tools and allows users to purchase entire portfolios if they have the funds available.
If you’re new to real estate investing and don’t quite feel ready to purchase your own property, there is a platform called Fundrise that sells e-REIT’s to virtual investors for as little as $500. A Real Estate Investment Trust or REIT is a company that owns income-producing real estate and sells shares to investors like stock in a public company. It’s a way to crowdsource real estate investing and provide consistent returns for investors, yet doesn’t require the purchaser to handle any of the responsibilities of owning and maintaining the properties.
Fundrise is the first platform to offer e-REIT’s (a digital version of a traditional REIT) and allows users to invest in a preset portfolio of assets all over the US that would otherwise only be open to accredited investors.
Best Virtual Real Estate Investing Apps
In addition to online platforms, there are a number of helpful apps you can download that will make the investing process quick and simple.
Matterport is a technology company that allows users to create 3D property renderings. This can be a great tool to help you visualize what a property will look like once renovated or show it to prospective buyers or renters who are out of town.
The Dealcheck app is specifically designed for house flippers and buy and hold real estate investors. It can help you find properties that are perfectly suited for renovation, while also providing a database of properties that are perfect for rental property investing.
Dealcheck also gives you access to comps, which can help you assess the after repair value of the property that you’re hoping to invest in.
AirBnB is the perfect app for virtual real estate investing, especially if you’re looking to purchase a property in an area with consistent tourist traffic. This app gives investors access to a large pool of tenants looking for temporary rentals and allows you to fill vacancies with ease. The entire process is done on the app and can save you the time and hassle of finding tenants yourself.
These are just a few of the top apps on the market that can be useful for virtual real estate investing. You can search the app store for others to suit your individual needs.
Advantages of Virtual Real Estate Investing
Virtual real estate investing can be advantageous for several different reasons:
Opens investors to opportunities across the country: Investors are no longer limited to the deals in their local area. You may be able to find better deals for your strategy in another market across the country and virtual real estate investing allows you to get in on that action.
Save time and energy traveling back and forth to a property: Although it can be reassuring to see the property, in this day and age, an investor doesn’t have to be present at the physical location to vet the project. All you need is a solid team in place to take care of basic tasks and a proper system to analyze the deal. This saves you time and money that could be better spent on other projects.
Invest in multiple properties at once: Because you don’t have to waste time going to a physical location, it’s feasible to invest in multiple projects at once. Don’t overextend yourself and bite off more than you can chew. But if you have some experience and want to build a portfolio across the country, virtual real estate investing makes this simple.
You can invest anywhere in the US
You don’t have to spend time travelling back and forth
You can run multiple projects at the same time
Disdvantages of Virtual Real Estate Investing
Even though virtual real estate investing is a great strategy for those with a handle on the business, it may not work for everyone. Here are the major disadvantages of virtual real estate investing:
You can’t always respond to problems yourself: One of the major downfalls of virtual real estate investing is that if a crisis arises, you have to rely on local help. So, if a pipe bursts in the middle of the night, you need the number of a reliable mechanic because you can’t just drive down there and look at it yourself. This may not be a problem if you have a solid network in the area, but it’s something you have to consider before making a purchase.
You have to do more research: Although you’re saving time and energy by staying at home or the office rather than visiting the property, you have to put that time into thoroughly researching the areas where you’re investing. You may not know other markets as well as your own town or neighborhood, so you have to spend time doing the due diligence to ensure it’s a smart investment.
You’re at the mercy of other real estate professionals: Virtual real estate investing puts you at the mercy of the professionals you put in place to handle the job – such as your contractor, real estate agent, inspector, banker, etc. This may also require you to spend a little extra money because you can’t handle certain tasks yourself. If you have an airtight team in place, this shouldn’t be an issue. But if someone gets lazy or tries to rip you off, it can seriously impact the project.
You have to rely on and trust other people
Researching properties can be more time consuming
You have to spend money outsourcing key responsibilities to othe real estate professionals
Ultimately, virtual real estate investing carries the same risks as any other type of investing. You have to do your due diligence and build a solid network to ensure success. But for those with experience who are willing to do the work, virtual real estate investing presents a variety of amazing opportunities
Let us know your thoughts in the comment section below.