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Successful real estate investors know it’s a numbers game. Being able to analyze statistics, evaluating them and then reacting to your analysis can separate the good real estate investor from the not so good.

Emotions play a part when one selects a home to live in. But when buying or selling property strictly as an investment function, leave the emotions at the door. As Sergeant Friday used to say on the old Dragnet television show, “just the facts, ma’am,” facts are what you need to base your investment decision on.

There are a number of new technology tools available to help investors separate facts from blue-sky fiction and over enthusiastic promoters.

Here is a list of some of the best:

1.Mortgage Calculator & Mortgage Rate Apps

Zillow has one of the best mortgage calculators apps around. Whether you’re looking to calculate payments on a possible property purchase or prepare a financial deal or refinance an existing mortgage, this app is both fast and easy to use.

A quick glance at the Zillow app on your iPhone or tablet when you are evaluating real estate projects to determine if the deal fits into your plans saves not only time but the danger of making snap decisions without knowing the numbers.

2.Real Estate by Trulia

This app is a very effective and user-friendly adaptation of the original Trulia Website. Always known for its investor-friendly tools, Trulia’s Real Estate app helps you find listings on properties and surrounding comparables in any area of the country. Coupled with an incredible interactive mapping feature, this is one app every serious real investor should have in their arsenal of tools.

Another similar site is the flat fee MLS listing site, Fizber. One of the biggest killers of margins is closing costs and realtor costs. Fizber allows you to get your property listed on the MLS for a small fee, giving you access to nearly 80% of US homebuyers.

3.Skype

If you’re not using Skype in your real estate investing business, you’d be wise to get on board and add it to your tool box.

Skype was a pioneer in free internet voice and video chat. They continue to dominate the market as one of the cheapest phone service providers around. Their face-to-face conference call function brings clients and buyers and sellers together from anywhere in the world. Once thought of as only science fiction, Skype has given us the incredible ability to converse in live pictures from a mobile device at any time of the day and anywhere around the globe.

4.Genius Scan

Going paperless, a goal of most innovative real estate investors, is made easier with the Genius Scan app. You no longer need a computer of a fax machine to forward documents to clients or banks. The Genius Scan turns any image into a pdf document in only seconds that has the finished look of a high-quality regular scanned document. And being that this quality app is FREE, it’s a tool you need to look at right away.

5.PlanEASe Software

This software program helps you analyze commercial property for financial and cash flow projections. It offers the investor a comprehensive management tool to deal with multi-unit residential and office properties. The base unit has extensions that include graphics, reporting, with the ability to combine files for portfolio analysis.

6.REO Wise Software

With his program, you can take commercial real estate analysis into the cloud. With a paid cloud subscription, it’s PowerBroker suite includes investment, leasing, financial modeling and marketing tools. It also features a transaction platform for real estate investors with a virtual deal room and document center.

7.Property Fixer App

If you’re an investor who flips properties for a fast gain, the Property Fixer is the tool for you. Using your smartphone, you can analyze property in five minutes and study the figures for holding it from 0 to 12 months in order to determine maximum profitability. Using the Property Fixer app, you can then email the resulting figures directly your clients under you company brand name with your logo.

8.Easy Kilowatt Hour Calculator

Commercial property investors can use this app as a watt hour meter to help determine the energy usage and cost of a possible acquisition.

To keep up in the competitive real estate investing game, where facts and current information are critical, it’s important to keep up with what’s new in the field of technology tools. Subscribing to a couple of commercial real estate newsletters and keeping current with real estate web sites that promote technological advances could be the key to keeping you successful.

A home is probably going to be the largest purchase most people will make in their lifetime. As such, there can be a lot of pressure to make the right decisions when obtaining a home. Unfortunately, sometimes people do make big mistakes. With that in mind, here are some of the most commonly made mistakes you should make sure to avoid when buying your first home.

Forgetting There Are More Expenses than Mortgage Payments

One mistake made by first time homebuyers occurs because they are unaware that owning a home requires far more expense than a monthly mortgage payment. Many people may decide to take on a mortgage when they finally have enough income to make the monthly payment. However, this ignores many of the other routine expenses that can be involved.

This includes things like property taxes, home insurance premiums, electricity bills, water bills and even dues paid to a homeowners’ association. Certainly make sure you know all the expense that will be required to own a specific home before you agree to buy.

Not Getting the Best Home Loan

Another common mistake occurs when new homeowners select the wrong mortgage. There are many home loans beyond the standard mortgage that are designed specifically for people who need financial help obtaining a home. You can find many of them on this website from a mortgage lender in Austin.

This includes options like loans from the Federal Housing Administration, the Veteran’s Administration and the US Department of Agriculture. Loans from these government agencies often come with great benefits for consumers like interest rates lower than regular mortgages. Make sure you qualify for such options before choosing a conventional mortgage.

Choosing a Home Before a Loan

The first step to buying a home should always be getting pre-approved for a mortgage. Part of the reason some people don’t is because they are nervous about the pre-approval process. They may assume that they’ll only be approved for a loan for a home much smaller than they actually want. They may also worry about being rejected outright. However, these fears are often misguided. Being pre-approved for a mortgage first will help you choose the right home from the beginning instead of having your hopes dashed later.

Overall, buying a home is a big deal. There is a lot of decision making required, and it will be a huge financial commitment. Make sure you are well informed on the whole process so you can put some your fears at rest.

Guest Post By:

Anita Ginsburg / Freelance Writer
anitaginsburg@gmail.com

Sometimes houses go on the market and just sit there. This can be extremely frustrating for the seller. However, this doesn’t always have to be the case. Below are a few different tips you can use to help your home move off the market quicker.

1. Make Your Landscaping a Priority

While it may not seem like something that’s very important, the quality of your landscaping upkeep can be a big determinant in how fast your home moves off the market. A buyer’s first impression of a home is what usually determines whether or not it’s sold. This is going to certainly include the lawn and landscaping.

2. Consider Renting

If the housing market is slow in your area, it may be a good idea to put off selling the property for a time and rent it out to tenants instead. While being a landlord may seem intimidating at first, it is not as difficult as you would first imagine. Consider obtaining property management software from a company like Rentec Direct to help you manage tenants.

3. Move Out

Unoccupied homes sell faster than ones that are occupied. It’s easy to understand why. Potential buyers have an easier job of imagining their own furniture and belongings in rooms that are not already filled with other people’s stuff. If you can’t move out, at least make an attempt to make the house look as unlived in as possible.

4. Redo Your Walls and Carpets

Walls and carpet do not look new forever. After a certain period of time, walls fade and carpet wears out. Don’t be afraid to invest a little bit of money to repaint your walls and re-carpet your floors. It can give your home a “new” look that will allow it to move off the market faster.

5. Create a Video

While you can simply include photos of your home with online listings, another possibility is video. However, don’t just attach any shaky video to the listings. Try to create a very professional looking walk through video of each room that gives a very flattering impression. Home shoppers will see it and get a much better idea of what to expect inside. You may end up flooded with offers.

Overall, selling a home takes time. However, you shouldn’t be forced to wait forever. If things are moving too slowly, use some of the tips above as well as other strategies for grabbing the attention of buyers. You’re likely to sell your home much faster.

There is probably nothing that brings more joy to one’s heart than becoming a homeowner. This sense of accomplishment is something really unique, as finally you will have a place that you can call your own. However, buying a home for the first time is in no way an easy task. Because of this, numerous homeowners come to regret an oversight they had made during the purchase. In order to prevent this from happening to you as well, here are several things you need to know before venturing out onto the real estate market.

Set your budget

It is essential that you have a set budget even before you go out looking for the right home. This way, you will have a realistic price range and there is nothing more important than staying within it. Naturally, if the offer is something really special, exception can be made, however this should most often be avoided. Any budget infringement you make at this point is bound to cause some serious consequences, so being mindful of every single dollar you spend is the best advice possible. Especially since there are always some hidden costs you are usually not aware of. Sit down and calculate exactly how much you are capable of spending, and don’t even look at houses outside that price range. You will save yourself a lot of heartache.

Your own evaluation

Even though the price of any given home will be more or less accurate, remember one thing: your expenses do not end with the purchase. This is another reason why you need to set a realistic budget. Think of it this way – every extra dollar you pay for the home itself will be a dollar lacking for some extra work the home requires. It is always best to consult a contractor, a plumber and electrician before purchasing a property. Better yet, take them with your to see the house before you buy it. This kind of consultant work won’t cost you much, but can save you a world of trouble later on.

Examine the neighborhood

When buying your first home, you will naturally be focused on the house itself, however, choosing a neighborhood is important as well. Look for lines of public transportation, restaurants, schools and hospitals in the vicinity, since these things may come to determine the quality of your lifestyle. These are just some of the things that make a dream neighborhood. If the price seems too good to be true, your home just might have a railroad or an airport in the vicinity, so keep both your eyes (and ears) open.

Additionally, ask around to see if the neighborhood you are moving into has a reputation of some kind. A good idea is also to consult a local Realtor. If you plan to raise a family in that home, the last thing you want is for it to be in a shady part of town. However, minding the home’s surroundings is important not only for your own safety but for the value of your property in general. Disregarding this, it may cause you a bitter disappointment once (or if) you try to sell the place.

The method of transaction

The last, but not the least important thing that requires your immediate and undivided attention is the choice of the safest method of transaction. Since,houses usually go for a substantial amount, the risk is in no way insignificant. Because of this, your safest bet would be to use escrow. Being a neutral party, it holds onto the funds while the physical assets are exchanged, and neither side is at risk of a loss. Escrow is one of the most traditional methods in dealing with large transactions, yet unsurpassed up to the present day.

Finally, just one more piece of advice. In order to make up your mind for the purchase, “good” is not good enough, the home needs to be perfect. Since this kind of investment is not something you make every day, you would be wise to remember that. Buying your first home is a dream come true for a lot of people, so don’t be afraid to dream big and settle for no less.

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A Few New Tools All Real Estate Investors Should Know About

Common Mistakes People Make When Buying Their First Home

5 Ways to Help Your Home Go from “For Sale” to “Sold”

Buying Your First Home? Here’s What You Need to Know

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