Start Investing Online: 4 Real Estate Tips

Start Investing Online: 4 Real Estate Tips

Investing in real estate online can initially seem intimidating. How can you leverage technology to build and manage your portfolio? Thankfully, we've outlined four straightforward methods to integrate tech into your real estate ventures and use digital tools for investment purposes.

1. Explore Emerging Markets Online

To effectively invest in real estate digitally, start by understanding your markets. Whether you're investing locally or from a distance, gaining insight into the market is crucial. Begin by researching areas of interest on platforms like BiggerPockets and listing sites such as Realtor.com and Zillow.

Gather comprehensive information from these sites, which should include historical property data, popular property types, mortgage and rental prices, current job market conditions, and neighborhood quality. This detailed analysis will help you make informed decisions.

Ensure you’re familiar with all the details covered during your research. If there is specific information you always seek when exploring investments locally, make sure to include that in your digital research as well.

2. Take Virtual Tours of Properties

If visiting a potential property isn't feasible, virtual tours are an excellent alternative. They provide an initial assessment of the property's condition, amenities, and any necessary improvements to enhance its marketability.

However, virtual tours should be taken with caution. Consider hiring someone locally to conduct a thorough inspection of the property. If you use property management software like RentRedi, you can hire a property manager and add them to your account for free, allowing you to manage your business remotely while they handle on-the-ground tasks.

Technology ensures you’ve conducted due diligence in evaluating the property.

3. Utilize Social Media for Marketing Your Rentals

After purchasing a property, the next step is marketing it to potential tenants, a crucial aspect of digital real estate investing.

While posting on traditional listing sites like Zillow and Realtor.com is essential, don't overlook the power of social media. Many renters use platforms like Facebook Marketplace and Craigslist to find their next home, so ensure you post your vacancies there as well.

The vetting process follows next. Fortunately, numerous online application and tenant screening services are available. For instance, RentRedi’s property management software offers prequalification, application, and comprehensive background checks (credit, criminal, and eviction reports) to help you find qualified tenants.

4. Implement Online Rent Collection

Once you’ve secured a tenant, it’s time to streamline rent collection. Online rent collection has become a standard practice in real estate investing. Offering this option makes it convenient for tenants to pay rent and for you to collect it.

Apps like RentRedi provide both web and mobile apps for tenants to pay rent online or via their phones. They can choose from various payment methods, including ACH, card, or cash, simplifying the payment process.

How to Invest in Real Estate Digitally

If you're curious about how to invest in real estate digitally, wonder no more. Leveraging technology makes it relatively simple to use online tools for finding, purchasing, and managing rental properties.

Whether you're investing from out of state or locally, property management software is invaluable for managing your rentals. These platforms allow you to collect rent online, screen tenants, list properties, sign leases, manage maintenance, and add teammate and property manager accounts at no extra cost.

Embrace the digital transformation and make your real estate investing journey more efficient and effective!

 
Jaclyn Dougan
(419) 217-2222
jaclyn.jacobsandco.com
jacklyndougan.jacobsandco.com


 
JACOBS & CO. REAL ESTATE, LLC.
12923 Fitzwater Dr. Nokesville, VA 20155 
(703) 594-3800 | jacobsandco.com

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