While there are cities still recovering from the burst of the real estate bubble in 2007, bidding wars for apartments in hot markets like New York, D.C., and Portland are an intensifying phenomenon. An April article on the Fox Business website shows that the value of homes in the United States is up 5.1 percent. Whether you’re in search of a foreclosure property or something newly built, finding the deal of your dreams is a competitive endeavor that requires using every trick up your sleeve. Thankfully, there is an array of new smartphone apps compatible with iPhone, iPad, Android, and other devices, that have recently come to the rescue. Designed with the busy property buyer in mind, it’s hard to understand how an investor could have ever succeeded without them.
Apps for Flippers
Real estate buyers known as flippers buy properties in disrepair or foreclosure, fix them up, and sell them at a profit. It sounds easy enough but actually comes with great risks. That’s why the new smartphone apps for flippers help to simplify a complex process. Some will help you figure out exactly how much you stand to make on a particular distressed home if you choose to move forward. They allow you to calculate how much you’ll net in just one click. Others are so user-friendly, you can enter the photo of a potential property and its key data and the app will then provide you with a breakdown of the expenses you’ll incur at the outset of the process.
Major realtors such as Zillow, Trulia, and Century 21 offer prospective buyers apps that act as a gateway to particular real estate offerings. They give their users the ability to view maps of the areas in which they’re interested in buying properties. Additional features let you conduct more narrow searches that only bring up homes that meet your precise criteria. Some apps synchronize with sites such as Yelp, which give users access to reviews of the stores and restaurants in the neighborhood they’re considering. Because this is all done on a mobile device, users can quickly text and email relevant information to significant others or partners.
Apps Specifically for Landlords
Landlords in particular benefit from new apps especially created to help them organize. These apps relieve them of the drudgery of sorting through paper leases and court documents by compiling that information into data they can access on the run. There are also apps that landlords can install to facilitate their ability to post ads for apartments they’re selling or renting on sites such as Craigslist.
Apps that Deliver Alerts
Nothing excites a real estate investor who wants to get a head start like an app that will tip them off as soon as something new hits the market. The best of these enable you to instantly zoom in and assess images and mortgage costs, and some will provide contact information on the owner.
Many of these apps are free or can be purchased for as little a dollar. They help you to bring you’re A-game to any real estate transaction. Having at least a couple of them in your smartphone will make your real estate investment strategy that much more effective.
Donald Charleston is a freelance author and blogger based in Jacksonville, Florida who focuses on real estate, wealth management, personal finance, investment advice and other kindred topics; readers intrigued by this piece can find more useful info on real estate by visiting http://www.turnberrytowers.com/.
Image credit goes to Menlo Oak Photos.