Whether you're a seasoned investor, or, someone who is just starting out, you should always ensure that you're armed with the best real estate investing tools and resources. Utilizing the proper elements can help investors grow their business more efficiently, maximize productivity, as well as fast track their earning potential. This applies to any type of real estate venture - rental properties, house flipping, and so on.
The bottom line is that you should be on top of your game by researching and seeking out the most relevant and up-to-date tools, resources, and processes. The more real estate tools and resources you have, the more empowered you will be as an investor.
We have compiled a list of the top real estate investing tools and resources to help you grow your investment business.
1. The Freedom Cheat Sheet - Create True Wealth
An outstanding real estate investing tool that goes hand-in-hand with owning rental real estate is the Freedom Cheat Sheet. It was created by Clayton Morris out of an urgency to turn his financial situation around, escape the rat race, and become forever financially free. Once created and fine-tuned, it enabled him, and his wife, Natali, to completely turn their financial situation around. They went from struggling to pay their bills, not able to save money, and blindly trying to get ahead, to becoming financially independent and able to say goodbye to the 9 to 5 scenario.
Its purpose is to find your specific Freedom Number, which is the foundation of building great wealth for you and your family. The Freedom Number formula calculates the specific number of rental properties needed to completely cover your expenses, allowing you to plan your way to financial freedom. You will be amazed at the results this formula will generate for you. The Freedom Cheat Sheet is one real estate investing tool you can't afford not to use.
2. Tax-Free Wealth - A Book by Tom Wheelwright
Tom Wheelwright, CPA, bestselling author, and personal tax advisor to real estate genius, Robert Kiyosaki, brings to you an incredible real estate resource called Tax-Free Wealth. Tax laws are confusing, even for the most experienced real estate investors. Because of this, you may be losing thousands of dollars each year, simply because you are not properly informed on the correct way to "think" about the tax laws, or how to implement financially sound strategies to reduce your taxes. This is what makes Tax-Free Wealth such an excellent resource for your real estate investing business. It will allow you to see taxes in a new light, and view the tax laws as a way to increase your wealth, not decrease it.
This eye-opening book will educate you on how to legally pay less taxes, why the government actually would like you to pay less taxes, and how the tax code was created to assist you in getting rich. Additionally, you will find out the tax secrets of the wealthy and how the tax laws can work to your advantage for various situations. In sum, Tax-Free Wealth will provide you with everything you need to know regarding reducing your taxes, keeping more money in your pockets, and building great wealth. You will wish you would have read it years ago.
3. Corporate Direct LLC - Incorporate Your Business
Corporate Direct LLC would be an excellent resource for real estate investors would like to incorporate their business to protect their assets. Many investors try to do this on their own and end up losing thousands in legal battles due to the fact that it was not set up correctly. This is one process you would not want to cut corners on. Leaving it up to the experts to set up a legal entity for your real estate investments is a wise decision.
Garret Sutton is the founder of Corporate Direct LLC, a corporate attorney, and asset protection expert. His company can assist you on every level when it comes to incorporating your real estate business. From selecting the proper entity type for your specific business, to taking into account your state laws, to filing the appropriate paperwork, they have you covered! Contact Corporate Direct LLC and mention Morris Invest to receive $100 off their services.
4. DealCheck - Easily Analyze Rental Property
If you’re a serious investor, this real estate investing tool is a must-have! Simply put, DealCheck will allow you to quickly analyze any property and estimate its cash flow in a matter of seconds. This means no more guessing and no more lost revenue from poorly estimated rental properties. It applies to buy and hold properties, flips, as well as commercial buildings. The software's advanced features will enable any real estate investor to make more educated decisions based on facts. This, in turn, will allow investors to run a more efficient business. This real estate tool is easy to use. In a nutshell, you literally just punch in the loan terms, the purchase price, what the rental income would be, and other specifications. Your ROI will then be generated, showing you what your monthly cash flow will be. See what else this essential real estate investing tool can offer you as a property investor.
5. Innago - Free Tenant Management Software
If you are managing your rental properties, then this is the best real estate property investment tool to use if you want to make your life easier, as well as streamline your processes. Innago is a superior tenant management software that will ensure you have the correct tools in place to effectively manage your rental properties.
This real estate tool offers rental property investors incredible features such as an innovative tenant portal, online rent collection and lease signing, maintenance ticket information, tenant screening, QuickBooks integration, an easy application process, and a lot more. Innago was designed to be used with virtually any type of rental property. This includes apartments, residential leasing, student housing, along with commercial properties. The best part is that Innago is completely free.
Grow Your Business with the Best Real Estate Investing Tools and Resources
To build a solid real estate investment business, it's imperative that you use the proper tools and resources to help run your business in an effective and profitable way. These real estate investment tools and resources can assist you in keeping your business organized, help lower your tax burden, create a long-term source of income, and so on. They will give you a competitive edge and make running your business more enjoyable!