Real estate can be one of the most profitable investments out there but managing properties can be a hassle.
Don’t you wish there was a way to run your gig without responding to every tenant call?
There’s a new way to make technology work FOR you, and you can sit at home while the money rolls in.
Let me show you three easy steps to turn your real estate strategy into an efficient money-making machine.
No matter what phase of real estate investing you’re in, chances are you feel your time and money being stretched every which way.
Whether you’re still looking to buy, or currently renting, or even trying to sell, there are always going to be demands for you to do more work than you should have to.
Real estate is supposed to be passive income, meaning you shouldn’t have to do anything once you’ve begun to keep the money coming.
There’s an easy way to get back to the basics. Ironically, it involves the latest and greatest technology.
Now, I know how easy it is to be skeptical of all the new apps and devices out there, but consider the benefits of these 3 ways to take you out of the equation and put profits back in.
1. Use social media to plug your business.
This may seem overly simplified, and like a lot of work, but it’s not if you know where to start.
Pinterest is a new face in the real estate game, but they’re not buying properties to rent out for craft fairs.
What Pinterest offers real estate professionals is the opportunity to advertise for free.
With a complimentary business account, you can create community boards for potential buyers to see what you and your business are all about.
Experts recommend engaging in local conversations and posting relevant content to the area you wish to buy or sell in.
By posting a few times a day, you can single-handedly promote your real estate business from the comfort of your couch, free of charge.
2. Find online property management and real estate brokers.
Two of the biggest strains on a real estate investor’s account are property managers and brokers.
While property managers are optional, chances are you don’t want to be the one running to the phone every time your tenant has a problem. You can search for reputable property managers online to do this very thing for you.
When buying or selling, brokers take a percentage of the final sale that eats away at your profit margin. There’s a new service on the market that nips that nuisance in the bud.
REX Real Estate is a groundbreaking company that uses artificial intelligence (AI) software to reduce the need for a physical broker exchange.
By completing the job of a broker mostly online and through technology, REX Real Estate only asks 2% of the final total. A traditional broker’s rate of 6% would cost you $30,000 on a $500,000 house.
No matter where you stand on the topic of AI, REX could offer you a once in a lifetime chance to save on one of the biggest expenses you’ll encounter in real estate.
3. Smart real estate investors look for inspiration.
The Internet makes it so easy to find like-minded people. All it would take is a quick search to find other real estate-interested parties near you.
This also means it’s easy to find resources. Podcasts and blogs are new forums for conversation, and they’re incredibly informative.
Spending an hour each day getting the scoop on the latest furnishing trends and popular tenant concerns can help you tailor your real estate outlook to be the most efficient and profitable as possible.
While technology can seem overwhelming, it brings you closer to your goals when used appropriately. Give these tips a whirl and see where technology can land your real estate business.
