Top Technology For Analyzing & Finding Remote Real Estate Deals
You’re ready to take your real estate investing game to the next level. But how do you manage properties and scout deals when you’re on the go? With the right tech tools, remote real estate investing is a breeze. In this article, we’ll explore things to know about remote real estate investing to help you crush it in the property game—no matter where you hang your hat. From keeping tabs on your rentals to analyzing deals on the fly, we’ve got the inside scoop on the tech you need to invest in real estate remotely. So plug in and get ready to take your portfolio mobile. Whether you’re a seasoned investor looking to untether or just dipping your toes into offsite ownership, this guide will equip you with the digital know-how to thrive as a remote real estate mogul.
Essential Tools For Managing Your Remote Rental Properties
When investing in real estate remotely, leveraging the right tech tools is a must. Here are some of the top technologies for researching markets, evaluating properties, and closing deals without having to be on site:
- Property analytics platforms like Mashvisor and Realeflow allow you to crunch numbers on potential investments from anywhere. Input a property address and these sites provide deep analysis on cash flow, expenses, taxes, appreciation, and more.
- Drone photography services like Roofstock let you get aerial views and 3D scans of properties to virtually tour and inspect them. Very handy when you can’t visit in person!
- Project management software like Trello is great for keeping your research and tasks organized. Create boards to track promising leads and action items.
- E-signing services like DocuSign streamline closing on a property without needing to be there. Electronically sign and notarize documents from thousands of miles away.
- Virtual staging tools like BoxBrownie make it easy to visualize vacant properties furnished. See how the space could look with furniture.
- Communication apps like Zoom and Slack facilitate connecting with realtors, lenders, and more remotely. Screenshare documents and have face-to-face conversations from your couch.
With the right tech stack, you can confidently research, evaluate, and invest in real estate from anywhere in the world. The options for productive remote investing are plentiful.
Key Platforms For Connecting With Agents, Contractors & Tenants Remotely
Managing rental properties from afar requires the right tech tools and systems to make your life easier. Here are some must-haves:
Property Management Software
This all-in-one solution lets you list vacancies, screen tenants, collect rent electronically, create maintenance requests, and more. Popular options include AppFolio, Avail, and Buildium.
Online Rent Payment System
Allow tenants to pay rent through an online portal instead of mailing checks. Options like Cozy and PayPal offer easy digital payments.
Remote Security Cameras
Keep an eye on things with outdoor and indoor security cameras you can access remotely via an app. Look into Arlo, Nest Cam, or Ring.
Smart Door Locks
Grant access remotely to tenants and repair workers with smart locks like August or Schlage. No more hiding keys or changing locks.
Adjust temperatures and heating/cooling schedules from your phone with Nest or Ecobee smart thermostats to save energy.
Inspection apps – Record unit walkthroughs, document damages, and complete inspections efficiently with apps like Happy Inspector or Inspect & Cloud.
Maintenance Tracking Software
Document repairs and monitor contractor invoices with maintenance tracking programs like Property Meld or Buildium.
Investing in the right property management technology can make overseeing rentals smooth sailing, even from afar. Just be sure to research options thoroughly to find the best solutions for your needs and budget.