3 Ways to Become a Tech Savvy Real Estate Investor
Technological advancements are a thing of today—and tomorrow, and the next day. Technology pervades our day-to-day and settles into nearly every layer of our lives. There is no hope of keeping up with all of it, but that’s okay. You just need to be selective about where you invest your energy and it makes a lot of sense to look for ways to leverage new technology in your business endeavors. Real estate investments are no exception. Where do you start?
- Choose investment partners who embrace efficiency. You know whom you should have on your team, but knowing how they operate is important too. For example, does your chosen property management company work with an online platform to track accounts, manage tasks and plan maintenance? If your partners are invested in technology that helps them to do their work more efficiently, they’re likely better equipped to address challenges and actively engage in a network of investment professionals. They’re also better equipped to interface with your investment management methods.
- Think mobile. Selling your latest rehab? Looking for renters? There is no doubt that our world is getting more mobile by the minute. More and more people are getting their information, browsing and shopping online. If you aren’t integrating a digital strategy for selling and renting your investment properties and ensuring that your strategy includes mobile responsiveness, you could be limiting your options significantly. You want to make it easy for people to find your properties as well employ methods of screening people more efficiently. That means that mobile is essential.
- Be the solution. Your market is changing—whether they are home buyers or renters, they are changing along with technology. Telecommuting is fast on the rise and that is a key consideration when improving or designing investment properties. People want comfortable, yet adaptable workspaces in their home. They want easy access to the Internet. They want to really enjoy the space because they spend A LOT of time there. Get creative about features to support this growing facet of your market and you might find yourself out ahead of the competition.
Start with these approaches and you’ll be getting the best of technology instead of worrying about it getting the best of you.