As Thomas Carlyle once said, “Man is a tool-using animal…without tools he is nothing, with tools he is all”.
This same goes for real estate investors. With real estate investing resources, you’ll be sure to make it. Without them, you’re more likely to break it. With these technological tools, being a real estate investor has never been so efficient.
1. Rental Property Calculator
A rental property calculator is the supreme real estate investing resource for data analysis on properties. All you have to do is enter some of the assumed costs with the property. Then, you sit back and relax as the results are projected to you.
What does a rental property calculator calculate? The better question is, what does it not calculate? Cash flow, cash-on-cash return, cap rate, ROIs, and NOIs are just some of the calculations computed from these interactive calculators.
Mashvisor’s rental property calculator is more than just the numbers. You’ll be given up-to-the-minute data, backed with predictive analysis, on everything relating to neighborhood, strategy, and costs. Not only that but the optimal rental and financing strategies are determined based on the location. And finally, you’ll be presented with an investment evaluation score, a sum of the overall investment offered by the property.
Mashvisor also now offers a free Airbnb calculator for estimating the potential Airbnb rental income and occupancy rate of a specific property based on comps’ performance in the area.
Related: Why an Investment Property Calculator is Better than Spreadsheets
2. OneRent Property Management
Property management to a rental is like nutrients to a tree. The more proper and efficient it is, the more likely the rental will grow and polish. As important as it is, managing a property can be difficult to keep up with, especially if you’re managing multiple properties. But this doesn’t have to be the case. With OneRent, the hassle of property management is replaced with ease.
For property owners, OneRent takes care of vital management tasks. After your rental has been inspected by a OneRent specialist, they’ll list your property on over 40 different platforms. And as soon as tenants apply for your rental, OneRent will screen them based on your standards in regards to credit, income, and background. They’ll also take care of making the lease after thoroughly evaluating the tenant. Not only that, but they’ll collect the rent. You’ll also be given $15,000 in eviction coverage. OneRent is the ultimate real estate investing resource for management.
3. Property Finding Websites
The most basic step of beginning real estate can often be the trickiest one as well. You could always turn to published ads to look for properties, but why do so when you got some Internet? There are so many websites out there that you can use to find investment properties. Zillow, Realtor.com, Trulia, LoopNet, and, yours truly, Mashvisor are great choices to search up investment properties. You could even find properties on Craigslist.
What’s great about these sites is that you can filter out desirable features of properties you’d like. You can filter out the type of property you’re interested in, the number of bedrooms and bathrooms, among other physical features. Mashvisor allows you to filter for financial features as well. As just one example, you’ll be able to set the amount of rental income you’d like from a property, and Mashvisor will display matching properties for you.
Related: How to Buy a Rental Property Using Mashvisor
4. Apps That Unlock Doors
Key transfer, or at least door access, is very crucial for Airbnb guests and hosts. Sometimes the keys are exchanged up front, sometimes they are mailed to the guest, and sometimes a neighbor is assigned to open the door. This can be a hassle at times, especially if time scheduling does not work out well. This leads us to our fourth real estate investing resource: apps that unlock doors. Apps like Lockitron and Keycafe allow you, and anyone you choose, to unlock the doors to your property. Visit their websites for more information.
5. Nest Learning Thermostat
We all know many people use Airbnb as an alternative to hotels. Unfortunately, sometimes they bring along old hotel-staying habits. For example, it’s common for hotel stayers to keep the AC running and the boiler on when they are not in the room. Imagine that happening in your Airbnb rental. How would you feel? More importantly, how would your wallet feel?
You won’t ever have to go through this scenario with this next real estate investing resource: The Nest Thermostat. With the Nest Thermostat, you’ll be able to control the heating of air and water in your property, even when you’re not near. By simply using Wi-Fi, you can increase or reduce energy consumption in your property. It automatically shuts off an AC when it detects that no one is in the property. A valuable real estate investing resource to Airbnb hosts, without a doubt.
6. Security Gadgets
Safety and security are part of what separates a house from a home. Your tenants want to feel secure in the rented properties, and you will bear a considerable amount of responsibility for that. A safe property will also keep tenants attracted to it, resulting in lower vacancies. That’s not all, security features for a property will also prevent damages and potential thefts, saving you money.
Related: How to Save Money on an Income Property
Security gadgets are among the most important real estate investing resources. Consider buying security cameras, fences or gates, and alarm systems for your property.
7. The Internet
Last, but definitely not least, the Internet. Perhaps, the most unlimited real estate investing resource out there, the Internet will help you with anything you need for real estate, whether its finding tips or storing data on Google Drive or Dropbox. Everything is just a Google search away.
Don’t journey into the world of real estate empty-handed, get some real estate investing resources.
For more resources, tips, and data on everything real estate, traditional and Airbnb, search Mashvisor.