Technology seems like it’s advancing faster than ever. In many ways, the real estate industry has not kept pace with the times. Throughout 2020, we saw how the COVID-19 pandemic accelerated many emerging trends in real estate, such as migration to secondary and tertiary markets and the transition from multifamily to single-family housing.
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Virtual reality is here. It’s long been the subject of science fiction, cartoons, and comic books, but VR is the hottest tech trend that just about every sector of industry is trying to find an application for. Medical professionals are using it to train and prep for surgeries. Museums are using it for tours and education. And, more obviously, entertainers are using it as a platform for games and interactive experiences.
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As 2017 comes roaring alive, real estate investors can kick back, relax...and start thinking about what they’re going to do to be a lot more awesome at real estate investment this year. Yeah, right!The job of a real estate investor is never truly done! This upcoming year, why not take advantage of the many tools and resources out there—many of them free?
Real estate investors have so many opportunities at their fingertips to up their game: from communities of professionals and ingenious marketing apps to financing tools and property finders. There are things out there you didn’t even know were possible! And there’s no time better than a new year to test some of them out.
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Investing in real estate can be a tough gig. There are days where you may feel like it’s impossible to keep up with everything! Thankfully, there’s relief out there for the stressed and frazzled real estate investor. If you’ve ever felt overwhelmed, disorganized, or just plain in need of an extra pair of hands that you don’t have, technology may just be the key to getting back on track.
Not only is there a plethora of software, apps, and resources out there especially designed for real estate investors, but there are also ways to utilize everyday technology to meet your needs. Not only can you get more organized, more productive, and more effective, but you can start hit harder and accelerate your goals in a big way.
Here are just a few ways real estate investors can effectively utilize technology to invest smarter...
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Some people are slower to embrace change than others—And that’s not necessarily a bad thing! In real estate, change tends to come slow. For the most part, the same rules have governed how we’ve done things for decades, with a few adjustments here and there.
But as technology changes, real estate does, too.
Now more than ever, we have data at our fingertips and ways to manage our finances, properties, and day-to-day businesses through technology. It’s not so much about the newest app or the newest model of smartphone, though those do offer brand new resources for real estate investors to increase their efficiency. It’s about how technology creates opportunities to innovate—ways that weren’t there before.
The changing landscape of real estate technology is something investors should think about on a bigger, broader scale: how are new innovations, new startups, and new technologies changing how we do real estate on a grand scale?
New Technology, Methods, and Why They Matter
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Smartphones are so handy. We use them to connect with the world around us—through news, social media, and...okay, maybe a little bit of Candy Crush, too. There are also tons of tools out there to increase productivity and keep track of all of things life throws at us. Not everyone thinks to effective utilize their devices for work, though.
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There are many, many pieces of “RE Software” out there, hailing themselves as the the pinnacle of investment efficiency, promising that their program will accelerate their investments in ways you’ve never seen or imagined.
Truth be told, a lot of real estate software companies are pitching snake oil to real estate investors. You don’t need a bunch of fancy programs to get the job done well. Many investors just stick to Microsoft Excel and tax software. It works for them, and that’s fine.
At Memphis Invest, our growth as a leading real estate investing company forced us out of our comfort zone and into the world of real estate software. This can be an expensive endeavor and one full of lots of advice and lots of trial and error.
Still, not all real estate software is useless and overpriced. Some are genuinely helpful and everyone has a different approach to investing that may demand a little extra heft from a program. They can be convenient and more organized that you are on your own, or help in other ways.
If you’re looking for the right software, these programs are worth looking into.
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There’s some crazy tech out there. For real estate investors, the ever-increasing pool of technological advances poses opportunities to increase efficiency and save time and money. Whether you’re looking for a nifty gadget or smartphone productivity tools, there’s plenty out there!
One of the great things about all these tech advances is that it does not matter if you are an entrepreneur and looking for business style apps or a small investor needing smaller more individual style apps, there are some great ones out there.
Here are a few apps that we like and I would LOVE IT if you shared some of your favorites in the comments below! Let us know what you think of the list.