September 30th, 2014. Ben Lloyd
The Best Apps for Property Investors
Once upon a time property investors used to lug around diaries, calendars, note pads and physically go places in order to find out about the property in that area. Smart phones have changed everything now though. Apps have taken over and they can do anything.
Want your phone to scream when you drop it? There’s an app. Want to know what plane is in the sky above you? There’s an app. Want access to all Land Registry data in your location? Yes, you guessed it, there is an app. Here are the best apps for property investors:
Ok, technically these are two apps but they do pretty much the exact same thing. They show you what properties are currently on the market, with which estate agent and for how much – perfect for when you are looking to obtain new investments. Additional benefits of these apps is that they show you average house prices and value of rent in specific areas. This means that, with just a couple touches on your smart phone, you can easily find out whether you’re paying under market value or if you’re charging too much for rent.
Real Estate Flip
Figuring out profit, loss and the amount of money you need to take on a project can be an absolute nightmare. Not only does it require extraordinary maths skills, it can take an awful lot of time to figure out every important aspect. Well, not anymore. This handy little app is a property investor’s dream as it can let you know just how much money you’ll make from your venture. It does this by calculating the purchase price, development costs, financing rates, holding costs and much more to give you the most accurate predictions.
If you are investing in residential property, then knowing what local conveniences are around you can be extremely important. However, if you don’t know the local area very well then this can be detrimental. Luckily, you can download the Around Me app and with one swipe of your finger you can find out exactly what is on offer in your location. This app shows you everything from banks and bars to petrol stations and taxis, letting you get an immediate impression of the area and make a better judgement on whether it will be a good investment.
Floor plans are essential to design and development, but they can take ages (and be costly) to accurately have drawn up. Magic Plan puts an end to that, allowing you to simply take pictures of a room and then the app will then cleverly draw up an accurate floor plan. If you want to ensure that it is accurate, then you can simply draw your own plans within the app and work with it from there. You are then able to make changes to the floor plan within the app and add in other objects and features. This is great if you are trying to visualise the demolition of a wall or are planning the interior design of one of your properties.
As a property investor, unless you have a huge wealth of cash behind you, chances are you’re going to want to get your hands dirty to help cut down costs. This app has a huge range of handy guides on how to fix and repair a wide variety of everyday things, from smartphones to vans. If you want to maximise your money, then doing it yourself is the way forward!
While there are many more apps out there, these are the ones that we see the most value in.
If you like to make things easier for yourself as a property investor, then talk to Pure Commercial Finance today to find out what we can do to make getting the right financing as easy as possible.
Article By Ben Lloyd
September 30th, 2014
Ben is the Director and Co-Founder of the Pure Group and Managing Director of Pure Property Finance.
Following a career in Barclays, where Ben was in the real estate finance team for 8 years, he decided that the market needed a more forward-thinking type of commercial brokerage so founded Pure Commercial Finance (now Pure Property Finance), the first company within the Pure Group.
Ben has extensive experience across the real estate sector and has participated in over £2bn of real estate transactions during the course of his career.
Ben oversees the general strategy at Pure Group and works with the senior leadership team to drive the Group forward. Ben is also on the Executive Committee of FIBA.See more articles by Ben