Were you aware that 6.1 million housing transactions were completed in the U.S. last year? Research organization Statista adds the tally was up 500,000 from 2020 when the number was 5.6 million. It adds that the total is expected to dip slightly this year before increasing next year. Are you interested in buying a home soon? What about investment in rental properties?
Many people who’ve achieved financial independence have incorporated property investments into their portfolios. If you’re looking to grow your properties, this can also factor into future endeavors where DSCR loans come in handy. Purchasing a rental property can be financially rewarding while requiring a hefty financial commitment. You’ll get monthly rent from tenants, see your property increase in value, and potentially cash in down the road to make a sizeable return on your investment.
But how do you find the right rental properties to invest your money in? Fortunately, there are various online tools that’ll help you find suitable real estate to add to your portfolio.
Continue reading to learn about five online tools you should use to find investment properties. If you’re not using them, you should be. You’ll find out why below.
1. Roofstock Marketplace
Roofstock Marketplace is useful for buying a single-family residence, short-term vacation property, or small multi-family dwelling. Are you open to buying a property in another region? You can use Roofstock to search out dozens of popular real estate centers.
Real estate deals can be completed online. And after the transaction closes, you can, if you so choose, find a reputable property manager to handle the day-to-day affairs. If you’re buying rental property in Austin, Texas, you’ll want to find a property manager who services that area. It’s not a good idea to hire a property manager that isn’t located in the region of your property.
Would you prefer to deal with sellers directly rather than with wholesalers? You can use ForSaleByOwner (FSBO) to search for the property you want to be based on criteria like location, price, and property type. You’ll be able to negotiate with sellers directly. It’s an option worth considering if you want to be able to speak to motivated home sellers one-on-one.
3. Zestimate and Rent Zestimate
You can use Zestimate, a tool offered by Zillow, to find out the market valuation of any rental properties you’re considering. The property values are tabulated via a proprietary formula that includes data from publicly available sources and Zillow users. Rent Zestimate, also from Zillow, is a great tool to use after you buy a rental property. You can use the tool to set the right rental rates for your units.
This company is a tech-enabled wholesaler of single-family dwellings. It leverages its technology to find homeowners in different markets who are most likely to divest their homes at discounts. Rubik sources dwelling places that fit certain investment criteria of investors, family offices, and funds. Rubik places real estate under contract and then assigns these contracts to other investors.
Do you want to find rental properties at distressed prices? One way you can do so is by using Auction.com. It lists bank-owned properties, foreclosures, and short sales of various types of real estate. Whether you buy a property in person or via online auction is up to you. But if you’re looking to get into the investment property space at a more reasonable price, Auction.com could be the way to go.
The tools mentioned above are a good place to start if you’re interested in real estate investment in rental properties or want to grow your portfolio. Use technology to your advantage when looking for investment properties.
In this digital era, you can’t afford not to leverage the power of technology.