Real estate investment is a good business for multiple reasons. As a smart investor, not only can you leverage real estate to build your wealth, but you can also enjoy amazing tax advantages and live the American dream. But it takes a lot of serious dedication and hard work to make money from it.
While most real estate investors feel the lingering need to handle every part of their business, that isn’t really advisable. It’s an easy way of getting worn out, especially when you’re trying to juggle multiple deals at the same time.
Thanks to technology, there are automation tools primarily designed to make work much easier for real estate investors and wholesalers. In fact, automation tools have become the very key to achieving success in the real estate business today — from making enormous profits to sealing deals.
What are real estate automation tools?
Real estate automation tools are software designed for accomplishing real estate tasks and solving laborious problems investors encounter consistently and repetitively.
As a success-driven real estate investor, there are a few basic reasons you need to implement them. First off, they provide quick results and save time. They also reduce the likelihood of errors, and lastly, they can help promote business operations.
There are several automation tools that exist out there, but the following options can really help investors boost their long-term work productivity and take their real estate business to the next level.
These tools can help you in handling every step of the process — from finding properties to selling them off at reasonable prices.
1. Deal Machine: For researching properties to buy
High, competitive bidding of a rental property among investors typically shoots the price higher compared to a property with low bidding.
Imagine buying a property your competitor has little or no idea about. This is where implementing Deal Machine becomes highly advantageous. It’s one of the best tools to use if you’re looking for properties that are off the market and could still be a great deal to buy.
Accuracy is a crucial factor to consider in this business, and Deal Machine is one of the best tools that can provide you with accurate data. For instance, when you use the app to take a picture of a rental property, it will automatically know who to contact almost immediately.
Additionally, Deal Machine searches public records and third-party data to give you the property owner’s name, mailing address, mortgage information and more.
2. PropStream: For lead generation
PropStream is a data provider that assists real estate investors and wholesalers by pulling up market statistics based on the demographics that are being entered in the software.
It’s dynamically updated with an easy filtering process. For distressed property search, users can narrow down their specific targets such as foreclosure, pre-foreclosure, bankruptcy, divorces and so on.
Real estate investors are always on the lookout for what is happening in the market, and this tool can be an option for that. Essentially, it allows the user to see what’s thriving well on their list. With the data they provide, investors can easily compose their marketing pitch for their targets.
3. REI Reply: For automated sequential marketing
This is another crucial tool every success-driven real estate investor must have. REI Reply is an automated tool that enables both experienced and newbie real estate investors to communicate effectively, monitor leads, and close deals faster and easier.
Top lead generation experts like Esteban Andrade, the CEO of Hesel Media, have tested and recommended REI Reply as a reliable tool. “I have all my investors using REI Reply because it’s the only tool that has everything an investor really needs,” he said in a Facebook message to me.
Its sequential automation replaces the use of Lead Sherpa, Podio, CallRail, Pipedrive, Mailchimp and Slybroadcast — all of which are responsible for qualifying leads, tracking and analyzing phone calls, and ensuring that real estate investors have a premium text messaging service and a ringless voicemail marketing tool for their business. It’s also one of the most affordable tools on the market.
In summary, automation is a great way for real estate investors to grow their business, and with the right application, success is always around the corner.