Read time: 4 minutes, 03 seconds. Buying a home is a big decision. For first-time buyers, making such a large investment can be overwhelming. Especially, if you have no idea what to look for when...
5 Tools Everyone In The Real Estate Investing Industry Should Be Using
“90% of all millionaires become so through owning real estate.” – Russel Sage, Financier
Property investing is not something that you should jump into blindly. Before the down payment, do thorough research. Take a deeper look into the property and how you’re financing it.
Get an expert to critically analyse the property title with you before making your final decision. It is no fun being house-poor. Or even worse, it is a nightmare to take on a piece of property that becomes a money pit instead of making money for you.
The great thing is that there are tons of tools out there that can help you to avoid the pitfalls of property investing. Wherever you are in your property investment journey, you can find material to guide you. It just takes a little bit of research. The fact that you’re here means you want to make informed decisions going forward.
So let’s look at 5 tools that everyone in the real estate investing industry should be using.
This is an industry-specific search engine. You can go to aussieproperty.com to search for different property listings across the country.
Even if you’re a newbie to property investing, there’s a lot to learn from Aussie Property. They have an entire section dedicated to educating property investors on what they need to know to make ethical and lucrative use of the industry. You’ll get tips on investment techniques and strategies to get you both the best property and to keep you safe from a legal standpoint. So you will have access to things like advice on property tax situations you might encounter as an investor.
The Aussie Property helps with renting, property management, investments and syndication, exclusive buying opportunities, and property financing.
Here you’ll find the demand and supply ratio of different areas. So if you are searching for property in a particular suburb, you can use DSRdata.com.au to find out how lucrative buying property there could be for you.
DSRdata.com.au uses a scoring system out of 100 to show you the demand versus the supply for an area. 50/50 means that the demand versus the supply for the suburb that you are looking at is balanced. Any score above 50 indicates that demand is higher than supply and vice versa. With this information, you can get an idea of the possibility of growth in that area.
DSRdata.com.au also tells you the typical house price for a particular area and the reliability. So this is a useful tool to use if you are looking to buy or sell a piece of real estate.
Propertyvalue.com.au is a product of CoreLogic. A lot of people might be more familiar with CoreLogic under its former name RP Data. CoreLogic is already well-known within the property market to provide high-quality property data and analytics.
The truth is that when you are looking for a piece of property to buy or even if you are seeking buyers, you don’t always have the time to do this in person. While it is comforting to visit an agency and have someone else take care of it, a tool like Propertyvalue.com.au can help you to get through the research stage. It will also continue to provide you with data-driven insights to help you make the best decisions for your portfolio.
The main purpose of EstateMaster is to provide support when it comes to development feasibility and appraisal. So will have access to support for things like risk management, professional reporting, KPI forecasting, and residual land values, etc.
So before you even start development, you can test the feasibility of the project with EstateMaster first. Your final report would include data about your cash flow analysis and any projected returns that stakeholders would be interested in.
NAB Budget Calculator
National Australia Bank (NAB) has a budget planner calculator that you can use to keep track of your expenses. All you have to do is to enter your monthly spending and your earnings and it will help you to create a realistic budget. This is a tailored tool to help investors manage their investments and investment earnings.
“Regional housing markets remain well-placed to record higher than average levels of demand, especially those markets located close enough to capital cities to provide a commuting option and lifestyle markets…” -Tim Lawless, Research Director, CoreLogic
The Australian property market continues to thrive. Property investment can be tricky but it can also be very lucrative if you have the right tools to support you. So take the time and find the tools that work for you.
Lastly, an extra tool if you will, us! MLS Finance provides a holistic approach to lending and has partners in various industries to assist you on your investing journey. Don’t be shy to reach out to our team at MLS Finance to find out how we can best assist.
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