Remember the wedding scene at the end of Napoleon Dynamite when Napoleon’s brother, Kip, serenades his new bride, Lafawnduh, with these lyrics:
“Yes, I love technology. But not as much as you, you see. But I still love technology. Always and forever.”
Well guess what? Kip and I have something in common, because I also love technology! I especially love it for managing my investments, both existing and potential ones. Current technology has made it easier than ever before to save time and make more money with your property investment, and if you’re not utilizing the fantastic tools that are out there, you’re only hurting yourself.
Here are a few of the tech tools that can streamline your real estate investment business and make your life a whole lot easier:
Evernote is an organizational tool that allows you to store documents, take notes, collaborate with team members, and much more. It’s a catch-all for virtually all your business-related documents – you can even scan and store business cards using the app! Good organization is an important part of success with your investments, and Evernote offers an ideal platform for getting organized.
2. CRM apps
CRM stands for Customer Relationship Management, and it’s another critical component of your investment business. Think of it as your link to all your contacts – and then some. With a CRM app, you can not only store contact info, but you can use it for marketing and lead conversion as well. Let’s say you’ve got a lead on a property in a neighborhood you’ve been wanting to break into. With a CRM app, you can store their contact info and make notes about every interaction you have with them, from initial contact to the day the deal is finalized.
This is an app made especially for investors who are managing their own property. Cozy is a one-stop shop for everything from tenant application submittals to rent collection. It streamlines both of these processes, allowing tenants and landlords to effectively work together in a user-friendly interface. Some of the other functions of Cozy include: tenant screening, rent estimates, expense tracking, maintenance schedules and more.
Technology has certainly made our day-to-day lives a lot easier than they were 20 or even 10 years ago. We’ve come a long way since the days of check ledgers and making paper copies in triplicate. These are a just a few of the tech tools available to you; believe me when I say there are countless others that investors all across the country are using to simplify their business.
Of course, another option – and one I highly recommended – is using a property management company to handle many of these tasks for you. In my experience as both an investor and a turnkey provider, the price you pay for these services is nominal compared to the peace of mind of knowing that your investment is being professionally managed, and your time is free for furthering your business interests.