Skip to main content

Tech Tools To Help Southwest Michigan Real Estate Investors During The Coronavirus

 

Investing in real estate is a great way to diversify your investment portfolio and build your wealth. In this day and age, there seems to be an app for everything. Here are some tech tools to help Southwest Michigan real estate investors during the coronavirus pandemic.

Virtual Tours

A virtual tour is a wonderful tech tool to help real estate investors on a regular basis and is a lifesaver during the coronavirus. As a real estate investor, you would still like to see the property and tour its insides and check out the neighborhood, but it still isn’t totally safe to be out and about looking at properties right now, especially if you have medical conditions that would compound contracting the coronavirus. With virtual tours, you will be able to see the outside of the property, the inside of the property, and you may even be able to explore the surrounding neighborhood depending on how and where it is listed. If you are really serious about buying a property, you can contact the real estate professional, or homeowner if it is for sale by owner, you could request a video call and have the agent walk you around as if you were actually there!

Three-Dimensional House Staging

There is a wonderful tech tool out there to help Southwest Michigan real estate investors out there during the coronavirus that will stage a house using pictures of the property and imposing three-dimensional furniture and objects into the photos to scale so you can get a real feel of the space, without actually having furniture in the property! This technology also saves the seller lots of time and money, because they do not have to hire a decorator or buy or rent any furniture or decorations. These three-dimensional displays can be updated to fit your taste and colors and really see if the property is a good fit for you or your portfolio.

Digital Paperwork

Another amazing tech tool to help Southwest Michigan real estate investors during the coronavirus is the ability to prepare, negotiate and finalize contracts digitally. These services are available through multiple reputable companies and are generally accepted as legitimate contracts by title companies. The beauty of the digital contract is that it can be easily signed and initialed with a simple click of a mouse. You can also make comments and notes on these documents without having to worry about reading someone’s writing or the quality of the scanned document. Title companies are also switching gears to using digital notaries public which means and entire closing can be done electronically! Please note, this is very new legislation and there may be restrictions. Please call I Buy SW MI today at (231) 392-3262 to find out if you can qualify for a digital closing. You can also purchase properties via wiring funds from your bank to the title company. You may not have to leave your home office to complete a transaction or try to find a notary!

Management Software

Another extremely useful tech tool to help Southwest Michigan real estate investors during the coronavirus would be management software. If you own rental properties, this software would be a great way to keep track of your payments on properties and also allow tenants to make their rent payments online so they wouldn’t have to worry about getting a money order, having to mail a check, or bringing rent to a rental office, depending on how you receive your rents. There is also management software for real estate investors of other types of properties. With these portfolio managers, you can keep track of all of the properties you own, when taxes are due, and some software have the ability for you to find new property to purchase!

For more information on tech tools to help Southwest Michigan real estate investors during the coronavirus, send us a message or call I Buy SW MI at (231) 392-3262 today!

Labels:

Comments

Post a Comment

Popular posts from this blog

What Real Estate Investors in Southwest Michigan Should Expect During The Coronavirus Pandemic

The coronavirus pandemic has a lot of people wondering what will happen next. We can only use our previous economic experiences to understand what this situation would mean for property owners and real estate investors. Here’s what real estate investors in Southwest Michigan should expect during the coronavirus pandemic. Shift in Demand The real estate market is expected to start having fewer buyers and more homes for sale. This means that buyers will have the upper hand during real estate negotiations. There will be less demand for homes, so the sellers will have to be willing to sell at what the buyers are willing to pay.  Price Dip Homeowners may be losing income and might not be able to afford their mortgage payment. There may be a surge in distressed properties, which means real estate investors can pick up properties for less than market value. They will have more negotiating room when it comes to traditional real estate purchases. Housing prices in general will
Post a Comment
Read more

4 Things You Need To Do Before Buying Your First Investment Property in Southwest Michigan

Considering starting to invest in real estate? Here are four things you need to do before buying your first investment property in Southwest Michigan. Review Your Credit The first thing you need to do before buying your first investment property in Southwest Michigan is to pull your credit reports because you need to know your credit score. Request a copy of your credit report from all three bureaus. Double-check that all information is correct and make sure to dispute any errors with the respective bureau. Make sure you keep up on your payments because lenders like to see that you have no late payments for at least the past 12 months, but the longer the better. This helps show them that you will continue to make payments on time. A low debt to income ratio will also convince a lender that you are able to handle the additional mortgage payment. Pay down credit cards and other loans as much as possible, preferably to maintain a 30% utilization rati
Post a Comment
Read more

Process of Selling My House to Cash Buyers

When it comes to selling a property, homeowners have many options. From the traditional hiring of a realtor and sitting months on market to listing a for sale by owner and selling your own house, homeowners make the best personal decision with the most knowledge they have. Unfortunately, many homeowners have little to no experience working with we buy houses companies. The benefits of cash buyers are numerous, so when I want to move on quickly I’m selling my house to cash buyers. The Benefits of Cash Buyers My first property was a traditional starter home and required nominal financing to afford. Once I procured a higher paying job out of state, I knew I needed to sell my house quickly in order to relocate. After researching local real estate agents that came highly recommended, I realized the average realtor couldn’t promise a sale real estate closing within a specific timeframe; waiting months of a potential buyer to purchase my home wasn’t an appealing outcome.
Post a Comment
Read more