Real estate investing software is a real boon for agents and investors who are into real estate investing and rental property analysis in the same way that a surfboard is a boon for a surfer, it stands to reason. This is what I mean.
Real estate investing is defined as the act of using money to purchase real estate for the sole purpose of owning or leasing it to generate income. In other words, real estate investing is all about money (or more concisely, the “bottom line”) and “How much money will the property make?” It is the main and last concern of real estate investors.
Therefore, because investing is all about numbers, investors are forced to “run the numbers” when making investment decisions by default. Emotion plays almost no role in the real estate investing business: Investors look at a property’s financial performance and rates of return to decide whether to buy or sell.
Ok, now consider the logic of real estate investing software.
The best solutions calculate cash flow, rate of return and profitability, taxes, time value of money, plus create a wide range of compelling reports and charts, instantly and effortlessly.
In other words, investment software does exactly what real estate investors require: it crunches the numbers. Furthermore, it does this automatically, saving the user the difficult (perhaps impossible) and time-consuming task of having to learn the formulas and format the reports on their own.
Consider the benefits:
- Cash flow projections and rate of return
- Calculations for the most stringent ratios and analysis measures
- Concise revenue projections
- Compelling presentation-ready reports and charts
- Ready for immediate use
Also, real estate investment software is affordable. For less than $300, you can buy a software solution that provides the forms, performs the calculations, and creates the reports you need to make wiser, more profitable investment decisions, compare various opportunities, and compose buyer, seller, lender, and colleague or partner. presentations
The best place to find real estate investment software on the web. However, there are several solutions available, so take your time and explore until you find the solution that best suits your business objective. Here are some tips:
- Browse the website. Is it well organized, creative, informative, unobtrusive and easy to navigate? Remember, the same company that offers the program also publishes the website.
- Browse the software. Does it provide the financial data and reports you want? If you are not sure, call the company and ask them for clarification.
- Please review the screenshots. These will give you an idea of what the program will look like when you start using it.
- Seek customer satisfaction. What are others saying about the software? Do they seem qualified?
- Review the support policy and developer profile. Does the company offer technical support? Does the software developer have real estate experience and is he approachable? Telephone contact with the developer who has experience related to the business is always preferred.
Finally, consider which options are most important to you, and make sure the software provides them. Here are some ideas:
- Easy to learn and use
- Allowed number of units: one more unit is preferred.
- Loan Amortization: You want the ability to enter primary and secondary loans, as a loan assumption or as a new loan, and at a fixed or interest-only rate.
- Rates of return – In addition to calculating things like cash flow, cap rate, and cash-versus-cash yield, does the software also calculate the four elements of the tax shelter and the time value of money?
- High-quality, concise reporting – Be aware that you might be trying to sway the opinion of a buyer, seller, colleague, or lender. At a minimum, you want an APOD, pro forma income statement, rental listing, acquisition report, and sales revenue report. But also consider sensitivity and scenario reports, a comparable sales report, a marketing package (executive summary), amortization tables, and charts. Make sure the reports are of the highest quality.
- Special Features: Does the software provide smooth printing, built-in imaging, name and brand integration, email capability, help file, etc.?
This article would have been impossible several years ago. But with the advent of the computer, it is possible for agents or investors to benefit from real estate investment software. And now, thanks to the Web, a software program can be researched, purchased, downloaded, and put to use without ever leaving your seat and before your second cup of coffee.