Finally – you can stop looking because you’ve found it – the “perfect” gift for your favourite property investor – even if it’s you!
No, you can’t wrap this gift, but it’s free, takes up very little space on your hard drive and can be used year round! What more could you ask for? Okay, scratch that…but it IS a great list of some really useful resources!
No doubt you’ve heard the story about the poor investor who lost his shirt on a property because he didn’t do his “due diligence”. Now there always have been – and always will be – certain risks associated with investing in property, however much of that risk is mitigated by performing a thorough inspection of the property’s title – and the property itself.
If you’ve been investing for any length of time, there’s no doubt you’ve heard of the following websites, however do you know the tips and tricks to making your searches more streamlined? Here’s some quick tips you may not know – or if you’re like me, you’ve forgotten!
Planning and Organisation Tools
To achieve financial freedom through property investing, you will need more than one investment property, however whether you own one or one hundred investment properties, organisation is not only desirable – it’s vital.
The following tools – both free and paid – will help you keep track of important information on your properties:
Analyse cash flow, capital growth, loan repayments, estimated income, expenses, taxes and depreciation before purchasing.
Feedback and control
As your property portfolio grows, so too do the responsibilities. The portfolio tracker can help investors obtain information about their investments with just a few keystrokes. Tracking more than 70 different elements per property, your favourite property investor can have a good grip on how their portfolio is performing!
Property Log Book
Keep track of your properties, including financial information while on the go.
Feasibility spreadsheet/software for development
Estate Master – Covers the following factors:
- Residual Land Values
- Feasibility Analysis
- KPI Forecasting
- Scenario Analysis
- Joint Ventures
- Financial Reporting
- Risk Management
- Multi-Stage Consolidation
- Professional Reporting
Devfeas – Provides reports on:
- Starting a property development project
- Residual land values
- Feasibility studies and residual investment values involving after-tax properties which have already been developed
- Feasibility studies for investment property which hasn’t been developed.
National Australia Bank (NAB) have many fantastic tools to help investors – and “would be” investors/homebuyers to successfully manage their finances.
Moneysmart offers a user friendly yet powerful tool to help the budget planning process.
Networking and Communication Tools
Social media tools
Many of these sites you’re probably already using on a personal basis, so your familiarity with them will put you ahead of the game!
The free version allows you to monitor as many as 5 social networks, so you can connect with other investors or even monitor the real estate activity in a particular marketplace.
Social media websites and forums
Google’s social media site has been taking off by leaps and bounds ever since its inception. It has vibrant real estate and real estate investing communities, allowing you to meet and connect with like minded people all across the globe!
Property Investing Simulators
Created by Commonwealth Bank, this fun and exciting game, “…helps users de-mystify the often complex world of property investment, including simulating ongoing costs, without ever putting any of their own capital at risk.”
Property Game Workshop
Positive Real Estate’s Property Game Workshop is a fun and FREE way to connect with like minded individuals. The fast paced action pits investors against each other as they race to be the one who finishes with the best portfolio.
The best resource in my opinion, is a fellow property investor because he or she has been there…in the trenches and knows what it takes to get the job done.
Please share what has worked for you in the comments below. I look forward to hearing your thoughts!