Investing in real estate has always required a fair amount of legwork and research. However, in today’s world of always-evolving technology and the abundance of new apps dedicated to the world of real estate, investing has become much easier. Technology has made it possible for those with both little time and little money to dive into the world of entrepreneurship.
Noobies to real estate investing can gain a competitive edge by enlisting the help of real estate investor software. There are several apps and other technology that can help new real estate investors to save time and gain valuable knowledge of the industry.
Real Estate Investors and Technology
Technology has changed the way real estate entrepreneurs operate. What was once solely the domain of fat cats with deep pockets and connections is now accessible to the little guys who want a piece of the action. The automation of repetitive tasks for real estate management and things like AI and virtual tours have saved budding real estate entrepreneurs hundreds of hours.
Virtual 3D Tours
Real estate entrepreneurs looking to purchase properties, either to flip or for a recurring passive income as rental properties can narrow down their search by viewing properties online. Gone are the days of scrolling through photographs of homes, apartments, and condos that could have been shot with wide-angle lenses that may not give an accurate representation of size.
Many real estate websites now offer virtual 3D tours that give a more accurate representation of what’s actually for sale. This can be a great time saver and can help entrepreneurs to eliminate properties that don’t offer what they’re looking for. This can be especially helpful for out-of-state buyers.
AI Technology
Entrepreneurs who’ve purchased apartment buildings and choose to manage them themselves can eliminate a lot of repetitive tasks when mass posting apartments for rent. Many popular AI apps can write apartment listings for you, saving you the time and the trouble of writing them yourself.
But AI tech for property owners doesn’t end there. Tennents will always have endless questions and issues, and a great way to automate the initial contact with them is to use chatbots. This piece of technology can assist with answering questions for both current property dwellers and also for looking to rent.
Real Estate Investing and MLS
A Multiple Listing Service, or MLS for short, has made real estate investing much easier. A multiple listing service is essentially a massive database that contains all of the properties for sale in an area listed by multiple brokers. This service is obviously a huge time-saver for real estate entrepreneurs looking to add new properties to their portfolios.
In the past, this service was only available to brokers and real estate agents. However, those looking to invest in properties now have access to this game changer. This technology isn’t free for use, but well worth their subscription prices.
Social Media and Crowdfunding Projects
You’d be hard-pressed to find any adult who doesn’t play an active role in at least one social media platform. They’ve taken over the world and are a part of almost everyone’s free time. And with the cute dog videos and other entertaining posts are crowdfunding projects.
Crowdfunding projects are a great way for a new entrepreneur who doesn’t have a large amount of money to invest in an individual project. However, real estate crowdfunding projects allow an investor with lower amounts of investment money to join in and become a part of something much bigger. Crowdfunding platforms have leveled the playing field.
Technology and Real Estate Investments for Entrepreneurs: Last Thoughts
Technology has made real estate investing a reality for many who dreamed of living the life of an entrepreneur. It’s done everything from saving time by automating tasks to allowing those without deep pockets to get involved in large real estate investment projects through social media crowdfunding.
For those looking to take the leap and dive into real estate investments, the use of modern real estate technology will make the leap a bit easier than it was a decade ago. As will any type of investing, it’s vital to use any and all tools at your disposal to make smart, educated decisions.
