So you want to be a real estate investor. Or maybe you already are one. No matter how much of a beginner you are, or how experienced an investor you are- there are many smartphone apps out there that can help you be more productive and “work smarter not harder”. I know. Oldest cliché in the book, right?
Let’s take a look at apps that many real estate investors are using.
If you have your license, you are probably a registered Realtor and have the Realtor® app. I imagine you probably have Zillow installed too. Both of these apps allow you to access properties on the fly. You can look up properties by zip codes, address, or even draw a map on your phone to show you all properties within a certain area. You’re also able to customize your search via: priced high to low, number of bedrooms, number of bathrooms, square feet, lot size and year built. Sounds like it covers everything right?
Zillow (App Store, Google Play, Amazon)
Let’s take a closer look at Zillow, since most of us are not registered Realtors®.
Did you know with Zillow you can also look up some mortgage information? You can get pre-approved and shop mortgage rates. The Zillow app also has a payment calculator, and an affordability calculator. If you don’t want an app, or are using a laptop, here’s a simple web based mortgage calculator I use.
The affordability calculator is pretty cool because you can use a sliding tool to indicate your income, down payment, monthly debt (sum of your expenses/bills) and your interest rate. The top of the screen will change based on the sliding numbers you select.
Auction.com (App Store, Google Play)
This app is good if you are looking to take a closer look at foreclosed and bank owned properties. This has a pretty high rating in the App Store (iTunes). Capabilities include searching by bid and win properties on the go. With Auction.com you can search by features and auction date too. This app also includes free Title Information.
DocuSign (App Store, Google Play and Windows Store)
This is an app used by all industries with anyone on the go. This allows you to sign PDFs and send right back to the sender. You can also send documents to other people to sign. Both of these capabilities are for any mobile device. And the convenience is second to none. Cost is only $20 per month.
Cloud Storage (App Store and Google Play)
I am going to go ahead put these all together. Basically, everything is in the cloud these days. Not on your phone, table or laptop. It all points to a website sitting on a server somewhere on the internet aka the Cloud. If you are not storing your information here you need to get with the program. Why? Because you can access it from any device. On the road? No problem. Pull your info up on your phone. At home and not in the office? No problem grab the file you need from one of these cloud storage systems.
Google Drive (App Store and Google Play)
Google Drive is basically Google’s version of Dropbox. You can sign in from your Google account anywhere and pull up your files. When you are working on files save them there so it’s not stuck on a hard physical device you can’t get to.
Google Docs, Sheets, Slides and Forms (App Store and Google Play)
Each of these Google apps are basically a live online version of the actual document. This is great when you have multiple contributors. Think of using it for a project and keeping track of costs and dates. Great for business partners and vendors.
Dropbox (App Store and Google Play)
Dropbox was a huge heavy hitter that forever changed the way we store files from our desktop. It’s an awesome beast that holds a boatload of info. You always have the option to buy extra storage. What I like about Dropbox- you can switch back and forth from a work account to a personal account. Keeping it completely separate but within the same app.
Magicplan (App Store and Google Play)
Looking to take a mental image of a floor plan? Are you as bad at sketching as I am? Insert wall here and doorway there? How cool would it be if you could take a picture of a room and it makes the floor plan for you? That’s what this app does. This capability makes it so much easier for any do it yourself project, create project or job estimates, stage or decorate and all with 3D capabilities. This is available on your iPhone or iPad.
Ten-X Commercial (App Store)
This app isn’t a high profile one in the App store and hasn’t received a lot of reviews. Its fairly simple. These are the different screens available: Browse by Property Type, Browse by Location, Browse by Table (grid), Push notifications for Outbid, Winning and Selecting Offers, Quick View Dashboard. This app boasts helping investors close $37 billions in transactions.
Property Fixer (App Store)
Are you a Property Flipper? Then they claim this app is for you. This app comes in 2 versions. A free one and a paid version that will only set you back around $4.99.
This is an app you would use while driving around prospecting for investment properties. This allows you to enter basic information into the app, and give you a property analysis in minutes. This would save you from driving home or to the office. Standard version includes: editing values, view reports and save changes for a single property. You have the ability to take pictures and attach it to a specific property. Features also includes a map and up to three expenses. There is also a mortgage calculator included.
If you upgrade to the paid version the app allows more customization on the reports you can run. This includes presentation reports, multiple properties (versus one property on the free version), you can now attach up to six photos per property. It also has a mortgage calculator that allows for a first and second mortgage. There are over 200 common repair items you can add when running your reports as well as 20+ buy and sell costs. It also has the ability to add additional notes, and categories. With Property Fixer you can add comps as well as your personal or company info.
The Pro version also has extras in its calculator to include purchase price, after repair value, financing, acquisition closing costs, holding costs, repair costs, and selling costs. It has the ability to Generate Profit or Loss as well.
Property Evaluator (App Store)
Are you an investor that likes to buy and hold? In it for the longer term? Then the same company that makes Property Fixer makes this one, called Property Evaluator. This app has the same look and feel as its predecessor.
Main focus on this app is the ability to compare multiple properties. You can group properties, to see combined performances of them as a portfolio. It’s paid versions are definitely more of an investment coming in at $19.99 for the Premium and $39.99 for the Pro version. There aren’t a ton of user reviews on this one so you may be an early adaptor.
Have we missed one of your favorite apps? Or several? Let us know! Hopefully some of these are helpful in saving time and so you don’t have to duplicate efforts.