It seems like there’s an app for just about anything these days.
Fortunately for real estate investors, this can make your job a whole lot easier.
Apps for real estate investors can help you do everything from finding properties to screening tenants and managing your income.
Let’s take a look at what these apps can do, so you can determine which platforms are best for your investment goals.Get Started with Park Place Finance
Why do real estate investors need apps?
Apps for real estate investors are designed to make the entire process simpler and more accessible.
Real estate investing is not an exclusive club for only the most experienced investors.
Today, you can get your foot in the door by starting where you are — right on your phone.
The apps we’re going to discuss can perform some or all of the following functions:
- Search for available properties
- Send alerts and notifications for new property listings
- Estimate cash flow and ROI
- Provide real-time or historic market data
- Manage properties, including collecting rent, tracking maintenance, communicating with tenants, and storing documents
These functions help make finding your next investment and managing current investments easier for both new and seasoned investors.
5 real estate apps that every investor should try
We did the research so you don’t have to.
Take a look at our list of the top five apps for real estate investors to determine which ones you should download now.
Stessa was created for residential income property owners.
It allows users to automate their income, track expenses, and access real-time performance metrics and tax reports.
Stessa is free to set up, with unlimited access to tracking properties, storing documents and receipts, and tracking manual expenses.
The free version also allows investors to access the following:
- Collect rent and deposits online
- Application management
- Credit checks
- Background screening
The current APY for the Cash Management deposit accounts is 3.12%.
Investors can upgrade to the Pro version for $20 per month to unlock advanced reporting and tax packages, a 5.08% APY, eSignatures with DocuSign, and unlimited access to organizing and managing portfolios.
Users praise Stessa for its ease of use and reporting tools, and for creators who listen to feedback and update the app accordingly.
The app is available for iOS and Android.
DealCheck excels in comparing and analyzing investment properties and has been promoted by the likes of Forbes, MSN, and BiggerPockets.
Users praise the software for how intuitive and comprehensive its tools are, including:
- Detailed cash flow, ROI, IRR, cap rate, and other analyses and projections
- Data on recent sales, market statistics, and comparable listings
- Robust offer calculators (paid feature)
The app is ideal for a wide range of investment goals and property types, including rental properties, vacation rentals, BRRRR properties, fix-and-flip properties, multifamily properties, and more.
You can use the software for free, but there are two other paid tiers at $10 per month and $20 per month for access to a greater number of saved properties and other customized features.
DealCheck is available on iOS and Android.
Wait a minute, isn’t Realtor.com a website? Yes, but they also have a convenient Real Estate app for investors to use on the go.
Key benefits of the app include:
- Home alerts for new listings or price reductions
- 3D tours
- Map layers and Map Draw
- Advanced filters
The Realtor.com app is an essential tool for investors to have on hand to ensure you never miss a new listing.
Users appreciate that it’s free and easy to use and love the detailed filtering options.
Property Fixer was designed for fix-and-flip investors to quickly calculate profits and ROI.
Enter the property’s information to review a flip analysis in as fast as five minutes. You also can adjust the holding period to evaluate how it affects your profits.
Investors love the app for how efficient it is to “crunch the numbers” instantly, rather than using multiple spreadsheets of data for the same results.
Property Fixer currently only works on iPhones, iPads, and Macs.
The free version allows investors to evaluate one property and up to three expenses, while the premium version ($19.99) allows multiple properties and “what-if” scenarios and unlimited expenses.
Investors also can purchase a pro version for $39.99 to create property portfolios, estimate improvement costs, and more.
Roofstock’s mission is to make ownership of investment real estate “radically accessible, cost-effective, and simple” by allowing investors to purchase and sell residential investment properties from around the globe.
Key features include:
- The homes they sell already have tenants and have already been inspected
- They have property managers available if you choose that route
- Users say they have outstanding customer service
- You don’t have to be an accredited investor
Roofstock also has a financing calculator and neighborhood rating tools.
You can use your own private lender to purchase the investment property.
It’s not an app, but HouseCanary’s Acquisition Explorer is worth keeping the tab open on your browser.
Essentially, it does all the research for house flippers or buyers who want to evaluate their future properties using comps and market data.
Investors can create custom buy boxes and review the results in real-time.
You also have access to HouseCanary’s AVM and rental values, and “extensive” property details and analytics.
Park Place Finance can fund your next project
Your real estate investment team needs an experienced, trustworthy hard money lender to help you quickly fund your deals.
Park Place Finance offers investors the flexibility and speed they need to succeed.
We have been in business for more than 17 years, lend nationwide, and have over $1 billion in loans funded.
We offer the following loan products:
- Debt service coverage ratio (DSCR)
- Bridge loans
- Ground-up construction loans
If you have a solid deal, fill out our quick online form with some of your project details or call us at 866-407-1599 and we’ll reach out to you soon.When you choose to work with us, you can rest assured that a team of real people will be dedicated to funding your deal as quickly as possible. We look forward to hearing from you!Get Started with Park Place Finance
Photo by Lisa Fotios