Now more than ever, technology has been at the forefront of everything we do. Whilst some people may not have embraced the digital age until now, you will find it difficult to come across anyone who has not needed to use it during the current circumstances, whether it be for their job or personal use.
Most of the world’s population owns a smartphone, and the number will only increase as retail giants Apple and Samsung continue to equip the market with the latest technology and handheld devices.
Nowadays, there is an app for almost everything, including ones for property investors. So, if you’re looking for ways to calculate rental returns, trying to find the perfect rental unit or striving to overcome maintenance issues, then there is more than likely an app for you.
We’ve compiled a list of some of the best apps for property investors to use in 2020, and beyond, as they look for the best properties and ways to secure and manage their investments, all from the touch of a button.
Property Evaluator
Suppose you own rental properties such as buy to let investments, or you’re looking to invest and become a landlord. In that case, you will want to calculate your return on investment (ROI). This is made up of your monthly cash flow generated through rental payments, as well as any capital appreciation, where the value of your property increases over time providing you with a healthy return when you come to sell. For experienced investors, perhaps with multiple properties, you’ll want to analyse your finances when deciding on a purchase and exit strategy.
This app enables investors to input data points on each property, such as how much rent you would expect to charge, as well as any renovation costs. The Property Evaluator app will then outline the financial details for you and give you the exact ROI you should expect from each property.
Realtor.com
Finding the best deals is one of the first challenges when investing in property. There are many factors to consider when searching for the right location and selecting your ideal unit or commercial building. For some investors, they’ll look for properties close to their home, but for others, they may wish to go further afield and even across the globe to secure investments overseas.
Tip - for investors who are looking to secure foreign investments within the UK for example, they may want to contact a leading property company such as RWinvest, who can offer advice on the best places to invest.
By using Realtor.com, people can narrow down searches and filter results by the type of unit or residential property they require, as well as the price of the property and how long it has been on the market for. The listings included also display multiple images and videos of the potential investments, so investors can gather information about the size of the rooms and dig a little deeper into what’s on offer. The app will also give details on the surrounding area and provide useful demographics - important to consider when choosing the best location for your investment. Things such as schools and local amenities will factor into future tenants’ decisions on whether they rent your property or not, and ultimately will affect the value of your investment.
Property Fixer
Lastly, we have an app for managing properties, especially relevant for those people who wish to ‘flip homes.’ Property Fixer will give you the renovation costs for both materials and labour purchases to then give you a sale price on the property once the work has been completed. The app pulls data from wholesalers and builders who can give you an indication of additional costs that may have been overlooked in the first instance. This minimises the unexpected fees you could face further down the line.
Through using Property Fixer, you can view a complete flip analysis that will clearly highlight your profit and return on your investment.
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