If you thought 2023 was a challenging year for real estate investors, buckle your seatbelts because 2023 promises to be even more difficult. The past few years have been incredibly tough. While the market is expected to pull back somewhat from the white-hot seller’s market, 2023 is also expected to feature high mortgage interest rates and home valuations.
Whether you’re an experienced real estate investor considering your options or you’re a newbie looking for your first rental property, the right technology can help you find what you want. Tech isn’t a silver bullet by any stretch of the imagination. But it can make things easier for real estate investors who want to make informed choices in 2023.
Continue reading to look at four of the best tools for people looking to take advantage of investment property opportunities this year.
Are you interested in picking up rental properties for below market value? One option is to check out Auction.com, an online marketplace with tens of thousands of listings. It lists foreclosed and pre-forclosed homes usually priced well south of market value.
You can conduct searches based on different criteria to zero in on precisely what you want. If you’d like to look for an investment property without getting an agent involved, Auction.com is an excellent option.
Whether you buy a home the needs remodeling or a home that’s ready to be rented immediately, it pays to consider hiring a property manager. If, for instance, you use Auction.com to find a suitable property in Austin, Texas, ensure you find an Austin property management firm. It can help with maintenance and repairs, market available units, collect rent, and much more.
Another helpful tool is Zillow. If you’re into real estate, you’ve likely heard of Zillow since it’s one of the leading real estate buying, selling, and financing platforms in the industry. You can use the platform to check on sales and market information on over 100 million U.S. homes. Zillow also offers proprietary tools, such as Zilculator and Zestimate, which you can use to find the investment properties that interest you. Zillow’s definitely a must-have.
3. Roofstock Marketplace
Are you interested in buying a single-family investment property? Well, if the answer is in the affirmative, ensure you check out Roofstock Marketplace. The platform is great for investment property owners to find real estate. Using the platform’s application process, you can search for properties based on things like location and price range. If your bid to purchase a single-famly home is okayed, Roofstock will charge either $500 or 0.5% of the purchase price — whichever works out to the most.
If you want a rental property but don’t want to overpay, consider a tool like Valuate. It’s a property appraisal tool that’ll simplify the process of figuring out what an investment property is worth. All you’ll have to do is key in the particulars about the property you’re interested in. You’ll then see the data you need to figure out if a specific rental property will fit your needs.
If you want to invest in an investment property this year, these tools will help you make informed decisions. While the market is expected to present challenges, that doesn’t mean there won’t be great opportunities. But you’ll need the right tech to help you find good investment opportunities. Try these tools, and see how they can make investing easier. You’ll be able to make informed decisions and benefit over the long haul from your investment property.
So, you don’t have to wait on the sidelines since the right tools will help you find opportunities.