Investing in real estate is a great way to diversify your investment portfolio and build your wealth. In this day and age, there seems to be an app for everything. Here are some tech tools to help real estate investors during the coronavirus pandemic.
A virtual tour is a wonderful tech tool to help real estate investors on a regular basis and is a lifesaver during the coronavirus. As a real estate investor, you would still like to see the property and tour its insides and check out the neighborhood, but it still isn’t totally safe to be out and about looking at properties right now, especially if you have medical conditions that would compound contracting the coronavirus. With virtual tours, you will be able to see the outside of the property, the inside of the property, and you may even be able to explore the surrounding neighborhood depending on how and where it is listed. If you are really serious about buying a property, you can contact the real estate professional, or homeowner if it is for sale by owner, you could request a video call and have the agent walk you around as if you were actually there!
Three-Dimensional House Staging
There is a wonderful tech tool out there to help real estate investors out there during the coronavirus that will stage a house using pictures of the property and imposing three-dimensional furniture and objects into the photos to scale so you can get a real feel of the space, without actually having furniture in the property! This technology also saves the seller lots of time and money, because they do not have to hire a decorator or buy or rent any furniture or decorations. These three-dimensional displays can be updated to fit your taste and colors and really see if the property is a good fit for you or your portfolio.
Another amazing tech tool to help real estate investors during the coronavirus is the ability to prepare, negotiate and finalize contracts digitally. These services are available through multiple reputable companies and are generally accepted as legitimate contracts by title companies. The beauty of the digital contract is that it can be easily signed and initialed with a simple click of a mouse. You can also make comments and notes on these documents without having to worry about reading someone’s writing or the quality of the scanned document. Title companies are also switching gears to using digital notaries public which means and entire closing can be done electronically! Please note, this is very new legislation and there may be restrictions. Please call Live Oak REI today at 817-385-9522 to find out if you can qualify for a digital closing. You can also purchase properties via wiring funds from your bank to the title company. You may not have to leave your home office to complete a transaction or try to find a notary!
Another extremely useful tech tool to help real estate investors during the coronavirus would be management software. If you own rental properties, this software would be a great way to keep track of your payments on properties and also allow tenants to make their rent payments online so they wouldn’t have to worry about getting a money order, having to mail a check, or bringing rent to a rental office, depending on how you receive your rents. There is also management software for real estate investors of other types of properties. With these portfolio managers, you can keep track of all of the properties you own, when taxes are due, and some software have the ability for you to find new property to purchase!