So many opinions on how to be a successful real estate investor can be overwhelming to new owners. In 2021, investors looking to diversify their current portfolio or take advantage of passive income opportunities turn to real estate. Thanks to developing technology and professional management firms, it is now easier than ever to efficiently manage income property to maximize profit. But with so many resources available, how do you know what tools will help the most? Join us below as we explore the top real estate investment tools for 2021 and how they can make a difference in your bottom line.
Top Must-Read Guides to Real Estate Investing
In the age of technology, a traditional book may seem old-fashioned. However, some of the best advice from the most qualified people to offer it are in books. So, if you are wondering what real estate investing could do for you, check out some of the top guides in real estate, how to invest, and grow your wealth with income property. Check out a few of our favorites below –
How to Be a Real Estate Investor, by Phil Pustejovsky
The true rag to riches story of Phil Pustejovsky, one of the industry’s leading experts on all things real estate, is an inspiration for any new investor. In this book, Phil shares a mix of motivation, practical advice, and tested strategies for any investor – new or old.
Building Wealth One House at a Time, by John W Schaub
John gets right to the point on everything you need to know to succeed in real estate. His easy-to-understand 9-step process outlines how to achieve million-dollar success without debt by recognizing how to use the real estate cycle for maximum benefit. In addition, John’s techniques on negotiation and financing are great advice for any investor.
What Every Real Estate Investor Needs to Know About Cash Flow, by Frank Gallinelli
This helpful guide is also a bestseller. Frank helps take the guesswork out of common real estate investing practices and teaches you how to succeed. In addition, readers can follow along with real case studies so you can learn to crunch numbers like a pro.
Online Learning Opportunities for Real Estate Investors
Real investors have a lot to choose from, whether it is a webinar, podcast, or traditional online learning class. Continue reading below for some of the top ways to get your education virtually.
Online Real Estate Investing Courses
- Udemy – Udemy is a great online source for various learning opportunities including real estate investment tools. The many free online courses cover topics like flipping real estate for a profit, Vacation Rentals 101, and understanding investment property financing.
- Roofstock Academy – Started by seasoned real estate investors, Roofstock Academy, aims to help curious investors who are aware of the merits of real estate but don’t know how to get started. Along with easy-to-follow courses, Roofstock maintains a marketplace of single-family rental homes investors can purchase across the U.S. While this program is not free, it is a great option for those serious about investing.
- MIT Center for Real Estate – Take time to invest in yourself and check out The MIT Center for Real Estate online course portfolio. These diverse courses help investors to sharpen their ability to succeed in the competitive real estate industry. Learn from world-renowned, in-demand faculty and speakers to enhance your knowledge of what matters most to your investment.
The Best Real Estate Podcasts for Investors
- Best Real Estate Investing Advice Ever Show – Daily Postings – Hosted by Joe Fairless, listeners, can benefit from more than 2,000 podcast episodes and counting. Blending helpful strategies and no-frills advice from top industry experts, this is a top source for information on flipping, rentals, new construction, and so much more. Not to mention, Joe himself is a published author and well versed in the industry, overseeing over $900 million worth of real estate investments.
- BiggerPockets Real Estate Podcast – Weekly Postings – BiggerPockets has become a recognizable force in the real estate industry through their popular blog and webinar series. This platform offers various helpful real estate investment tools, with the podcast being hosted by two seasoned industry professionals, Brandon Turner and David Greene. This is a great resource for investment strategies for beginners or those already working in the industry.
- Real Wealth Show: Real Estate Investing Podcast – Weekly Postings – Hosted by Kathy Fettke, co-CEO of the Real Wealth Network and author of the best-seller “Retire Rich with Rentals,” this podcast offers practical advice from top real estate investment authorities. Guests such as Robert Kiyosaki, Loral Langemeier, and Peter Schiff give their take on how to be successful and create passive income opportunities along with critical mistakes to avoid. So, it is a well-rounded how-to for any investor.
Pro Tip: Looking for even more online advice? The National Association of Realtors Real Estate offers an extensive library of webinars that discuss property management, financing, advertising, and more.
Top Online Property Finder Resources for Investors
Owning income property only works well if you can find the best deals. Especially in such a competitive market, investors need to use every available tool to edge out their competition. This includes finding the best listings first and being ready to pounce. So, check out some of the best real estate investment tools for finding listings below –
- LoopNet – Enter your desired specs, and LoopNet goes to work finding matching commercial real estate listings for sale or lease. In addition, this site allows investors to compare comps and property records in the area to evaluate better the true nature of the deal they are getting. Plus, you can isolate findings to show only pre-foreclosure listings or REO/bank-owned properties, which is great for property investors because they can potentially get substantial discounts.
- Auction – Auction.com focuses on real estate auctions, including foreclosures, REOs, short sales, commercial real estate, luxury real estate, new construction, and land – all of which can appeal to investors. Easily browse through listings based on location or a variety of other criteria. Unfamiliar with auctions? This site has convenient how-to guides that explain the proper steps to begin bidding.
- PropertyShark – PropertyShark.com has a wealth of information, property records, neighborhood information, and comparables to enhance your research into viable investment areas. Additionally, it includes sales data, socio-economic demographics, and an extensive marketplace of foreclosure listings.
Pro Tip: One of the best real estate investment tools an owner can have is a qualified realtor on their side. Realtors have access to a wealth of potential investment opportunities and can help investors move quickly and make deals efficiently.
Top 3 Software Tools for Real Estate Investment
Software solutions are one of the best real estate investment tools an owner can have. Not only do they allow you to manage daily operations like marketing listings and rent collection efficiently, but some software is also specifically designed to help you find and maximize opportunities. Let’s check out some of the most popular real estate investment software below.
- Analyst PRO
Software Pricing – Starting at $69.99 per month plus a $49.99 setup fee
Analyst PRO is the #1 investment modeling software as rated by CRE Tech. Designed with professional investors in mind, Analyst Pro includes lease analysis, demographics, and tools to create the most complex investment analysis calculations in minutes.
Software Pricing – Starting at $149.99 and up
If you are looking to start, build, or ramp up your real estate investments, ProAPOD may be to solution for you. This platform lets owners quickly make calculations. Items such as cash flow, rate of return, and generate proformas for all property types, including residential, multi-family, and commercial. In addition, the Pro RE Calculator suite offers 62 real estate calculators for a one-time fee of $79.95.
Software Pricing – Free Basic Plan and other options beginning at $347.00 per year
Whether you choose to take advantage of the Property Evaluator or Property Tracker real estate investment tools, this software has a lot to offer. The Evaluator allows investors to easily compare properties in a given area while the Tracker monitors financial data to help maximize profits.
Best Free Investment Property Calculators
When it comes to investing, numbers are everything. That said, choosing the right rental opportunity comes down to the result of various real estate investment calculations. While some formulas are straightforward, others require more in-depth calculation. So, once again turning to technology, check out a few of these free online investment calculators to evaluate everything from a cash-on-cash return to estimated monthly rent.
Financial Mentor Investment Property Calculator
This handy calculator is one of the better real estate investment tools to crunch numbers on a prospective deal efficiently. That said, this covers all critical operating ratios such as Debt Service Coverage Ratio, Net Operating Income, and CAP Ratio. In addition, this site offers a separate suite of mortgage calculators for added convenience for those that need it. Check it out here!
AARP Investment Property Calculator
Offering a user-friendly calculation where owners simply plug in figures. Additionally, the AARP site includes definitions of important financial terms to help you understand the calculation and result. Check it out here!
Calculator.net Rental Property Calculator
With simple, easy-to-follow calculations, this is a great starter calculator for investors. But, like AARP, it too includes in-depth explanations of terms and basic formulas every landlord should know. Check it out here!
How to Maximize Real Estate Investment Potential
Owning rental property can be a great investment. This industry has plenty of room for owners to start small and grow as big as they want. That said, finding and closing deals is only half of the battle. Managing rental properties is a different experience entirely and can eat up a lot of busy investor’s time. Late-night maintenance calls, endless showings, tenant screening, turnover repairs, inspections – it all adds up.
What if there was a better way to manage the day-to-day while maximizing your investment?
Luckily for investors, Bay Property Management Group does just that. As one of the area’s leading rental management firms, our focus is on property management and property management alone. Our team of seasoned industry experts knows the local market inside and out. This helps owners to stay ahead of the game. So, whether you just bought your first unit or have an extensive portfolio, give us a call to discuss the many benefits of full-service rental management.