When it comes to searching for a new apartment to invest, it’s easy to feel overwhelmed. You need to find something that fits your investing plan, your budget, your future tenant’s needs (i.e., pet-friendy space, accessibility support, etc.,) and your overall requirements for a property.
Fortunately, the days of digging through the classifieds to find such apartment are over. The digital era has ushered in a wave of tools and technologies to help us find exactly what we need in our next property investing endeavor, be it a duplex or a luxury apartment, and we’re here to share the best aspects.
Real Estate Data
The amount of information available to us at the click of a mouse is tremendous. Websites and mobile apps like Zillow, Trulia, and Apartments.com give us a comprehensive look at the fair market value, the apartment’s visuals, crime statistics, income specifics, nearby shops, and more.
Whether you’re looking for an upscale apartment, a luxury apartment, or a spacious studio, convenient websites like Zillow let you narrow down your search by filtering through different specifications. Search by rooms, budget, area, and pet-friendliness to save time and money
Technology helps us take a tour of prospective apartments without having to step away from our tablet or smartphone. Apps like Apartment Guide and Apartments.com allow for 3-D tours and floor plans so that you can see the entire apartment without stepping foot in the property.
A payment solution like RadPad allows its user to pay their rent directly through the app by debit or credit card. RadPad will send a check directly to the landlord, making things more convenient for both parties. RentPayment is a similar platform for renters to pay landlords through plastic.
If you invest for cash flow, using the available rental property tools can help you in securing new renters. Websites and apps, such as Zumper, allow for instant alerts whenever a new apartment that fits tenants’ criteria is posted. In competitive markets, an apartment can be posted for rent and tenants secured in less than a day, so tools like Zumper help you in keeping your property well-promoted, and – hopefully – keeping your occupancy rate high.
Up-to-date reviews can also be found online and on multiple different apps. This allows tentants to give feedback on landlords to future tentants don’t have to worry about falling prey to a slum-lord.
Over to you
Investing in property is lucrative – if you can spot the right opportunities and use the right platform or service to either flip your property or rent it away. Use the available tools to leverage your effort.