Wave your magic wand because buying during a recession can be a very smart move. Photo credit: Dreamstime
Updated July 27, 2024. Real estate investing during a recession can be a very wise move. Investment in properties can be an intelligent decision if your goal is to build long-term wealth and financial stability. As you have probably seen, the stock market and other traditional investment options are extremely volatile with excessive moves in either direction during times of the economic downturn. However, real estate has a history of holding its value and providing steady returns. Below are some key benefits of investing in real estate during a recession.
Benefits of Investing During Recessions
A key benefit of investing in real estate during a recession is a wise decision because property prices are at a low point. As a result, investors can buy properties at a discount. With the mindset of buying and holding for the long-term, this can potentially put the investor in an excellent position when the economy eventually bounces back. In addition, most of the population is unable to have the cash necessary to purchase property during a recession, creating a buyer’s market for those who can.
A further advantage of investing in real estate during a recession is rental income. Everyone needs a place to live. Even in a weak economy, people still need a place to sleep. Consequently, rental properties can provide a steady stream of income for investors. An additional fact is that many people choose to rent instead of buying during a recession, thus creating a strong demand for rental properties.
Lastly, the big factor to consider is price appreciation. The price appreciation of a property can depend on a variety of factors. These details can include big factors such as the location, future development plans, and the supply and demand of the property in a given location. We, and our partners, always look to force appreciation on our properties by carrying out and maximizing repairs and renovations on the residential properties we purchase.
$450 Billion of Mortgages Will Be Maturing
These are some key benefits of investing in real estate during a recession. It has been estimated that $450 billion of mortgages collateralized by apartment buildings will be maturing in 2023 and 2024.
As we see in today’s real estate market, a lot of borrowers will not be able to refinance because of high interest rates and still make have a positive cashflow on the property. This is a huge buying opportunity!
You Will Need Three Things For Success
Get the knowledge on how to do this.
Network, network, network.
Look for real estate investors, like us, that have partnered with other investors. We, and our partners have the private capital available and are ready to buy when great opportunities arise.
Additional Information on Inflation
Profit From Substantial Inflation Ahead. Let’s take a look at how to profit from the substantial inflation that is already starting to happen. The US government has been printing massive amounts of new money. On January 6, 2020, the US Federal Reserve had around $4 trillion dollars. On January 4, 2021, the number increased to $6.7 trillion dollars. As a result, as of 2021, over 40% of US dollars were printed in the last 12 months.
A Bible Verse From Psalms
Psalm 128:2 NLT
2 You will enjoy the fruit of your labor. How joyful and prosperous you will be!
Last Updated on July 27, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
Updated July 27, 2024. Choosing the right real estate software for investors and also for wholesalers is crucial when finding motivated sellers and then analyzing the data. Unquestionably, the best real estate software can help you meet your goal as you grow your business. In this guide, we ranked and reviewed the 5+ best real estate investment software for 2022, along with our top 3 choices, so that you can pick the best one for you.
This is the best solution with everything you will possibly need. PropStream is the most trusted provider of real estate data nationwide. Thus, with PropStream, you can quickly research and evaluate properties, both on and off market, to determine if they meet your investment goals.
Overall, Zillow’s platform is totally free and is one of the most popular for real estate investors. Also, this platform allows you access to the MLS without getting a real estate license. In addition, you can find distressed properties on Zillow search for “pre-foreclosures” filter by searching under the “potential listings” heading.
PropStream is the most trusted provider of real estate data nationwide. Find motivated sellers, find cash buyers, compare comps, and much more with our easy and accurate filtering systems. Likewise, you will already be using the best software so you won’t need to switch platforms later.
DealMachine is the way to go if you drive for dollars. This is the most direct approach to finding wholesale properties than simply sending out emails to inboxes or letters in the mail. Our driving for dollars app helps you organize your team by showing driving routes on everyone’s map so you get more deals done in less time.
As you scale your business with your team, PropStream is the best solution with everything you need as you grow your business. As a result, you can target motivated sellers, find cash buyers, compare comps, and much more with its easy and accurate filtering systems.
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In essence, having the right software is extremely necessary if you are thinking about starting a real estate business or you already have a real estate business. As a result, the real estate software for wholesale investors will quietly and conveniently allow you to make intelligent investment decisions. Therefore, choosing the right real estate software for investors is absolutely crucial when finding and then analyzing properties.
At the moment there are more than 20 different software options available. For this reason, we want to make this decision easier by showcasing the best real estate software so you can find the right solution for your business.
In this guide, we ranked and reviewed the 5+ best real estate investment software platforms, along with our top 3 choices, so that you can pick the best one for you.
Let’s face it – with so many options on the market, there will only be a few left standing in the end, so you want to make sure you pick the winner.
Why should you trust these reviews?
I have more than 20 years of investment experience in real estate. As a result, a vast part of my expertise is in analyzing real estate investments and wholesaling residential properties:
Managed my real estate business by putting residential houses and lots under contract. These properties were wholesaled or renovated and sold to other end buyers making over $100,000 USD year after year.
Supervised the day-to-day operations of a residential real estate acquisition and renovation company that focused on fix and flip properties.
From past residential real estate experience, can implement the specifics in how to get properties completely rehabbed and ready for the market.
Management of many types of rehabs. Personally rehabbed anything from light to average, to heavy rehabs of more than $100,000.
Time and time again, I have successfully used the 70% of the ARV rule for a worthwhile return on real estate investments.
Understand the necessity of finding and quickly analyzing property data to save wasted time and consistently have projects that will be profitable.
In the same way, these reviews are ranked based on features, price, product options, control panel experience, technical support, reliability, scalability, and more.
For this reason, we ranked and reviewed the 5+ best real estate investment software platforms for 2022, along with our top 3 choices, so that you can pick the best one for you.
We will also compare and review things like:
all-in-one platform
platform with the best design and interface
reduction of time consuming tasks to find and analyze leads
top free and low price options
best choice for small businesses
cutting-edge CRM capabilities
real estate automation for marketing
mobile capability
What Are The Best Real Estate Software Platforms?
Real estate software, especially for wholesale investors, are robust, full-featured tools to help you make decisions faster.
Basically, real estate wholesaling is one of the easiest ways to get into the world of real estate investing. In short, it doesn’t require a ton of experience or capital, and you can bring in nice profits without risking your own money.
When choosing from the best options, there are many considerations, and each software platform provides different features.
For example, your needs will be different if you’re analyzing multiple properties or land at the same time.
On the other hand, you may want to focus on getting into your car and driving for dollars rather than analyzing houses and land remotely.
For this reason, real estate software platforms should ultimately allow you to find properties, analyze data, offer skip tracing, make offers, and have systems in place to organize marketing campaigns.
Furthermore, they should also help a wholesaler or house-flipping expert to easily run comps to determine profitability so that you can focus your attention on running your business.
In this guide, we ranked and reviewed the 5+ best real estate investment software platforms.
Here are my picks for the best real estate software platforms to try this year:
1. Zillow.
Zillow is totally free and is one of the most popular platforms for real estate investors ($0 per month).
Financial Goodness’ Take
Zillow is my #1 recommendation for starting out if your budget is $0 or it is very tight. In fact, Zillow has MLS if the property is on-market. In addition, you can look for distressed FSBO properties and talk and negotiate with the sellers directly, thus eliminating brokerage fees.
Overall, Zillow is a versatile real esate software platform for wholesale investors. Search for properties that are for sale, recently sold properties, and the Zestimate for all off-market properties and also the Rental Zestimate.
You get features like saved automatic notifications for individual properties, comps for similar real estate in that area, and you can set up specific boundaries for searches, and much more.
The Zillow platform allows you access to the MLS without getting a real estate license because they make the information public and free. You can find distressed properties on Zillow search when you search within the “pre-foreclosures” filter by searching under the “potential listings” heading.
Key Features:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Photo credit: Zillow.
Research other sold homes in the area.
Zillow puts buyers in the drivers seat to make their own decisions.
Private sellers can post properties for sale that are called “For sale by owner”.
About 5 to 10% of motivated sellers and distressed property owners sell their properties on-market and many times these are being sold at a discount.
Use a keyword search tool for a word or a phrase and Zillow will filter through all of the listings looking for it (example: fixer or rehab).
User Experience:
With a upper hanging menu that is pretty easy to follow, Zillow gives you the ability to hover over any of the drop down menus at the top of the screen that will give you submenus that you can click onto find out even more information in your search.
Pricing:
Zillow lets investors look and research properties for free. Zillow makes money on ad sales to agents and by charging property management companies to advertise their listings on the Zillow Rental Manager.
What I Like / Dislike About Zillow:
Like:
Zillow is our #1 pick because it is the best free platform of the 5+ best real estate investment software for 2022 (ranked & reviewed).
Easy access, so it’s easy to get started
Lots of free information on properties
Pretty simple interface that makes it easy to find what you need
Dislike:
If you need skip tracing, be aware it is not available. However, many skip trace websites offer their services for free.
Best real estate investment software for beginners and also best for small businesses ($99 Per Month).
Financial Goodness’ Take
PropStream is our #1 recommendation for beginners and for small businesses. PropStream is the best because it will automate the core processes for these investors. As a result, it provides you with the ability to access properties remotely to help you make decisions analyzing properties faster. In short, having the right data is critical to making informed decisions and PropStream has all the information you need at your fingertips.
PropStream is the powerful opportunity you need to connect with motivated sellers and cash buyers and get the best return on your investments.
Start today by using the most powerful real estate software available on the market, especially for wholesale investors.
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Photo credit: PropStream.
PropStream is the most trusted provider of real estate data nationwide. It empowers real estate investors with the data, investor tools, and marketing solutions you need to make informed decisions and stay ahead of the game.
With PropStream, you can quickly research and evaluate properties, both on and off market, to determine if they meet your investment goals. In addition to this, you can target motivated sellers, find cash buyers, compare accurate comps, and much more with their easy and accurate filtering systems.
Whether you are just beginning, or are scaling and growing your small business in real estate, PropStream has the software features and functionality you need to succeed.
Key Features:
Identify leads by searching the most accurate database available of over 153 million properties nationwide.
Accurate and up-to-date recordings when looking for vacant properties with out of state owners, or a wholesaler targeting distressed properties with tax liens.
PropStream makes it easy for you to reach the property owner directly with built-in skip tracing features. Such as including free DNC scrubbing, which provides homeowner phone numbers and emails, for quick and easy contact.
PropStream allows you to add Team Members so that you can do more in less time. A Team Member can be anyone. For instance, a person in your office or a Virtual Assistant (VA).
The PropStream Rehab Estimator tool removes the guess work while helping you better understand the project.
Understanding market trends is key to staying ahead of the game in a fast-paced market. For this reason PropStream lets you visually see what the current market looks like, helping you to quickly identify the next hot spots.
PropStream is mobile and you can access the information from anywhere in the world. That being so, get property details in the palm of your hand or set the app to Drive and let PropStream Mobile work for you. Then send a postcard right from your phone.
One of my favorite aspects of PropStream is that all of their features are available even with the most basic plan. Then from the basic plan you can add on features that will help each person to succeed.
Consequently, the price varies from the basic plan depending on additional factors like List Automator, Team Members, and Marketing Tools.
User Experience:
The bottom line is that we favor PropStream over any other software data providers and also for investors that are wholesalers.
A reason why PropStream is heads and shoulders above everyone else is that the user interface is very solid. Obviously nothing is perfect, but this interface is superior to any of the other data providers.
When you go to a city, PropStream pulls up the quick step metrics across the top of the screen. These metrics are always current and up-to-date. For example, if you go to Charlotte, NC the quick metrics will show you the MLS, Pre-foreclosures, Auctions, Foreclosures, Cash Buyers, Vacant, High Equity, etc. This a cool feature which will help you to know the pulse of the market for ever city you pull up. You have to know what is going on in a specific market. In a word, this cool feature in the dashboard is perfect.
The other thing that we really like about PropStream and what makes it probably one of best data providers is you can pull up market stats. As a result, you can see the different things like list price vs. sales price, average monthly rent, and average days on the market. Therefore, as these market stats change over time, you will always have a pulse on the market for the cities that you are in.
PropStream’s Software Gives You The Pulse On The Market:
PropStream’s Market Pulse of the City that You Are Viewing. Photo credit: PropStream.
The other thing that PropStream does that we really like is the ease of the filtering process. As a result of this, you can narrow down your audience. To illustrate: you can filter for Property Type, Year Built, Bedrooms, Bathrooms, Square Feet, Lot Square Footage, On-Market or Off-Market, Foreclosure Status, Ownership Info, Lien/Bankruptcy Status, Mortgage and Equity Info, etc.
PropStream has more data, features, and investor tools than any other product or service on the market. If you are looking for for information on a specific property, or creating targeted marketing lists, PropStream can do it. In essence, if you need accurate comps or rental prices, or want to calculate rehab expenses using local labor and material costs, PropStream can provide the information that you have been looking for.
Pricing:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Photo credit: PropStream.
The pricing for PropStream is very straightforward.
The price is $99 per month. This includes comprehensive property data with over 120+ lead filters to match your real estate investment strategy with your business goals.
Depending on the features that you add on, PropStream has various types of plans in place.
These include:
List Automator: Managing your lead lists is time-consuming. Undoubtedly, marketing to old leads can be extremely costly. This is where PropStream helps your business immensely. PropStream’s List Automator feature does the work for you. Automating your lists ensures it is scrubbed for accuracy, which saves time and money so you can concentrate on closing deals. Daily List Monitoring includes up to 2,000 Properties. List Automator starts at $27 per month.
Team Member: Finding and hiring a team means that you can do more in less time. PropStream alows you to add members to your team to assist with day-to-day tasks. You can also add Virtual Assistant (VA) for someone who works remotely. You can add up to 5 Team Members per account. Team Member starts at $20 per month.
Marketing Tools. PropStream has marketing features built in to allow you to rapidly communicate with property owners. Skip Tracing with DNC flagging is just 12¢ per lead. In short, this is an incredible deal at 12¢ per lead! Other marketing tools are professional postcards that start at 40¢ each, and emails at 2¢ each.
Mobile Scout. The Mobile Scout has a “Drive” feature to tag and share properties. Basically, you and your team can add up to 10 people per account. The Mobile Scout add-on tool is completely Free.
What I Like/Dislike About PropStream:
Like:
PropStream is our #1 pick for beginners and for small businesses of the 5+ best real estate investment software for 2022 (ranked & reviewed).
Support is readily available and very knowledgeable, so it’s easy to get started. PropStream’s customer support is easily accessible by phone or my email.
Simple interface that makes it easy to find what you need.
Many real estate wholesalers use PropStream to tap into other markets across the United States because this product is superior to any other data providers out there.
PropStream allows you to create a landing page.
PropStream has added the “Driving fo Dollars” feature with the Mobile Scout “Drive” that is completely free.
Dislike:
The Mobile Scout “Drive” feature is free, but only after paying $99 per month for the service.
In our opinion, the “drive” feature is an add-on feature to compete with the bells and whistles of DealMachine’s Drive for Dollars.
You and your team will need to weigh out the pros and the cons of the Mobile Scout “Drive” feature to see if it makes sense for you and your business goals.
Best real estate investment software, especially for wholesale investors, is Driving for Dollars ($49.00 per month).
Financial Goodness’ Take
DealMachine is our #1 recommendation for Drive for Dollars and you can get it for the low price of $49 per month. It should be noted that Drive for Dollars is the most direct approach to finding wholesale properties. DealMachine helps you organize your team by showing driving routes on everyone’s map so you and your team can get more deals.
DealMachine is the leading platform to help investors find off-market deals by using the Driving for Dollars app. Drive for Dollars will help you and your team find real estate wholesale deals faster than ever.
The Awesome DealMachine’s Driving For Dollars app. Photo credit: DealMachine.
DealMachine software enables investors with Driving For Dollars and List Builder. Both the Driving For Dollars and List Builder include property owner data, skip tracing, and direct mail marketing if you choose.
DealMachine’s Driving for Dollars is awesome! We say awesome because this software technology works very nicely. Accordingly, DealMachine helps members set a goal of adding 300 distressed properties to their app within the first month and send repeat mail to every property owner. More importantly, Driving for Dollars has helped many real estate investors get into the game and get that first property under contract.
Key Features:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). DealMachine Gives You A Deal For Approximately Every 200 Houses. Photo Credit: DealMachine.
You don’t need to be tech savvy to see big results with DealMachine.
DealMachine offers native iPhone and Android apps in addition to access from your computer. Moreover, this system is friendly and easy to use.
DealMachine wins for driving functionality and user convenience with additional driving features, including Planned Route mode and Virtual Driving for Dollars.
DealMachine is also the better option for quickly and efficiently adding multiple properties to your intended route.
The DealMachine app has been downloaded over 300,000 times.
It should be noted that DealMachine is the highest rated real estate investor software for lead generation with a 4.8 rating out of 5 with over 3,500 reviews.
User Experience:
DealMachine is best known for their Driving for Dollars app which works beautifully. Before Deal Machine, you would have to write everything down. Now it is so simple, you just have to tag the property and it makes the process very streamlined. Due to this, DealMachine has really reduced the cost of Driving for Dollars.
We believe that Driving for Dollars is one of the best marketing tools available to find deals. We say this because you are physically out in your vehicle looking at distressed properties and you can actually see and analyze so much more information being on that particular street.
Pricing:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). DealMachine’s Software Pricing. Photo credit: DealMachine.
DealMachine has two different types of pricing plans: Driving for Dollars and List Builder.
Driving for Dollars Property Software – Choose From 3 Levels
Depending on your real estate investment business, there are three levels of pricing in Driving for Dollars: Starter, Professional, and Elite.
Starter
If you are just beginnning your real estate investment business, the Starter for $49 a month is the way to go. You will get 1 full-access team member, 1 driver, and 500 Driving for Dollars leads each month.
Professional
Once you have wholesaled a property deal and made $5,000 or more as a wholesale fee, you could be ready to add another driver. The Professional at $99 per month will allow you to have 2 full-access team members, 2 drivers, and 1,000 Driving for Dollars leads each month. The Professional will allow you to increase the leads and the number of deals completed so that you can begin to scale your business.
Elite
After your business is consistently receiving $10,000+ a month or more from wholesale deals then The Elite will allow you to continue to scale your business with multiple drivers. The Elite pricing is $249 per month, with 30 full-access team members, 300 drivers, and 10,000 Driving for dollars leads each month.
The Elite will absolutely take your businesss to the next level!
Add-on Products:
DealMachine has add-on products to help you optimize your business. These add-on products include: Multi-step Mail Sequences, Street Pic, Mail Tracking, and Comps.
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). DealMachine’s Add-on Products. Photo credit: DealMachine.
List Builder
The List Builder software will put thousands of leads instantly into your account. Then you can use quick lists to identify cash buyers or motivated sellers. As a result, the lists will be automatically in sync with sellers’ situations on a weekly basis.
Again, in the List Builder you have three options: Starter, Professional, and Elite.
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). DealMachine’s List Builder Pricing. Photo credit: DealMachine.
Add-on Products:
The DealMachine List Builder has the same four Add-on Products at the same prices as the Driving for Dollars option above.
What I Like/Dislike About DealMachine:
Like:
DealMachine is our #1 recommendation for Driving for Dollars of the 5+ best real estate software for investors (ranked & reviewed).
Driving for Dollars software will build your own unique list of properties
Lowest cost leads with the greatest ROI
Smart property filters
Skip tracing feature is highly accurate
Dislike:
DealMachine does not have a customer service phone number available.
If you send them a chat, the person who responds will usually have their email address and possibly a direct phone number to get in touch.
One of the best all-in-one software platforms for real estate investments ($125-$175 Per Month).
Financial Goodness’ Take
Realeflow is our #2 pick for beginners and small businesses of the 5+ best real estate software for investors. Realeflow is an all-in-one platform with no third-party integrations. As such, Realeflow combines lead generation, off-market and on-market property marketing, repair estimates, email marketing, direct mail lists, direct mail printing and sending, and CRM management.
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Realeflow’s Key Features. Photo credit: Realeflow.
Leadpipes will generate quality property leads fast.
Search for, locate, and download motivated sellers in your area including absentee owners, vacancies, properties owned free and clear, and high equity properties, low equity properties, and probate leads.
Also, you can search for cash buyers and private lender leads.
Founded in 2007, Realeflow has over $10,000,000,000+ deals closed
Helped more than 100,000+ investors automate their businesses.
User Experience:
Many real estate investors use Realeflow software to simplify their businesses by consolidating multiple apps into a single platform. Realeflow offers real estate investors the tools needed to successfully access their business from anywhere in the world.
Realeflow filters will find motivated sellers in specific regions, analyze potential deals accurately estimate the cost of rehabbing the property, and then determine a fair offer.
In addition, Realeflow also has the option to fund the real estate deal. You can select “Private Lenders” from the drop down menu to find people who might be interested in funding. Then use Realeflow to walk through a property one time to estimate line-item repairs in under 5 minutes. This estimation process can be conveniently done from your iPad or cell phone. This features takes all the “guesswork” out of the equation because a team member can do it without any real estate experience or construction knowledge.
When designing your Realeflow website for your business, you can choose your website from multiple nice looking and SEO-friendly templates. Content is also available to boost traffic to your site and engage visitors.
Pricing:
Realeflow has two real estate software investor plans that are available: Pro and Team. Both of these plans are offered on a monthly or annual basis.
Billed Monthly:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Realeflow’s Pricing Per Month. Photo credit: Realeflow.
The Pro plan offers nationwide lead access for 1 user with All Tools, and 5 Lead Generation Websites for $125 per month. You can try the software for 30 days for $10 risk free.
The Team plan offers nationwide lead access for 5 users with All Tools, and Unlimited Lead Generation Websites for $175 per month. With this plan, you can try the software for 30 days for $10 risk free.
Billed Annually:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). Realeflow’s Pricing Per Year. Photo credit: Realeflow.
The Pro plan offers nationwide lead access for 1 user with All Tools, and 5 Lead Generation Websites for $104 per month. You can try the software for 30 days risk free.
The Team plan offers nationwide lead access for 5 users with All Tools, and Unlimited Lead Generation Websites for $145 per month. So if you have scaled your business and have your team ready, you can go ahead and try the software for 30 days risk free.
What I Like/Dislike About Realeflow:
Like:
Realeflow is our #2 pick for beginners and small businesses of the 5+ best real estate software for investors (ranked & reviewed).
For somebody who is completely new to real estate, they can go ahead and use this software system with the training Realeflow provides.
Additionally, Realeflow automates the property process to provide exit strategies with all properties.
Realeflow has an excellent support team whose primary focus is helping its users to succeed.
Dislike:
Our blog is titled “5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed)”. Our opening sentence is: Choosing the right real estate software for investors and also for wholesalers is crucial when finding motivated sellers and then analyzing the data. However, Realeflow is comparatively dissimilar in that it is more aligned with seasoned real estate investors that already have a portfolio of properties.
Unfortunately, the price of this platform is more expensive for many investors who are just beginning or scaling their business. In our opinion, PropStream has the better platform interface and an excellent customer support team to help find great wholesale deals.
Nonetheless, after building a a business through wholesaling investment deals, this platform could be an option as your investment business grows.
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). REIPro’s Property Leads. Photo credit: REIPro.
Compared to PropStream and Realeflow, REIPro’s features are somewhat limited, but it does offer some robust functions at an affordable price. The REIPro features include property lookups, seller lead searches, comps, and marketing tools.
In addition, after using the Property Lookup tool, you can use REIPro to connect to the owners directly. REIPro gives you access to a library of phone scripts so you can reach out right away.
Automatically follow-up with lead emails which will ensure that the leads do not get cold. This means that you can set a schedule and let it run without requiring you to check it every day.
User Experience:
REIPro is an all-in-one lead generation software system to find and then analyze real estate properties. In general, the software system is all done from one simple, easy to use dashboard interface.
The REIPro is a streamlined, simple design that is easy to understand and control. Basically, it is very similar to sitting at the controls of your car.
Pricing:
Standard Plan (for a single user):
$97 per month billed monthly | $87 per month billed quarterly | $57 per month billed annually
Standard PLUS (up to 5 users):
$129 per month billed monthly | $119 per month billed quarterly | $89 per month billed annually
Team Plus (up to 10 users):
$197 per month billed monthly | $187 per month billed quarterly | $157 per month billed annually
What I Like/Dislike About REIPro:
Like:
The monthly cost of REIPro is much less than the cost of purchasing lead lists.
Easy direct mailing from the software platform.
Dislike:
The monthly cost is higher than beginning investors want to pay.
Nevertheless, no website is included for property investors to send new leads to. So without your personal website, phone calls, text messages, and emails are the only way for potential leads to actually contact you.
After speaking with other investors, it seems that many of the leads are old and of no value because the distressed situation is already resolved.
Another negative is that on the main screen there’s no option for vacant land. If you go to your county and look for vacant land on REIPro the number of lots and land is really small and this is obviously a problem.
Software for real estate wholesale investors typically exists to help out with some of the largest challenges that property investors face. These challenges are steady lead generation, intuitive CRM (customer relationship management), and an all-in-one platform that goes from lead generation to exiting the property.
In this ranked and reviewed guide, the real estate software that most investors prefer are the all-in-one platforms. Most real estate investors will benefit from using an all-in-one platform rather than piecing together the features and functionality of two or more platforms that may or may not be compatible. For this reason, these all-in-one platforms can save investors and their teams the one resource that no one can get back. That resource is time.
Real Estate Software & CRM For Wholesale Property Investors
Manage the Process with an All-In-One Platform
Free Wholesale Real Estate Process Template. Photo credit: sampletemplates.com/business-templates/wholesale-real-estate.html
What are the 5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed)?
When it comes to the best platform, there are a lot of important ranking factors, including an all-in-one platform, cutting-edge CRM capabilities, reduction of time consuming tasks to find and analyze leads, real estate automation for marketing, simple design and interface, and mobile capability.
Another factor is if the platform has a website to support your real estate business and provide potential leads. With this in mind, look for nice SEO-friendly templates. Obviously this factor is important to boost your available traffic to your site and to engage visitors.
With site speed, you want to make sure your real estate website loads your site content quickly on mobile and desktop. Even a 100-millisecond delay in load time can drop your conversion rate by 7%.
Taking these factors into consideration, we feel that the best real estate investment software would be:
1. PropStream
Start today by using the most powerful real estate software available on the market.
PropStream is the most trusted provider of real estate data nationwide. It empowers real estate investors with the data, investor tools, and marketing solutions you need to make informed decisions and stay ahead of the game.
PropStream is the best for real estate investors on a budget who want to automate their core processes. As a result, it provides you with the best value and the ability to access properties remotely to help you make decisions analyzing properties faster. Having the right data is critical to making informed decisions and PropStream has all the information you need at your fingertips.
PropStream has more data, features, and investor tools than any other product or service on the market. If you are looking for for information on a specific property, or creating targeted marketing lists, PropStream can do it. If you need to accurate comps or rental prices, or want to calculate rehab expenses using local labor and material costs, PropStream can provide the information that you have been looking for.
2. DealMachine
DealMachine is the leading platform to help investors find off-market deals.
DealMachine’s software enables investors with Driving For Dollars and List Builder. If you choose, both the Driving For Dollars and the List Builder include property owner data, skip tracing, and direct mail marketing.
DealMachine’s Driving for Dollars is awesome! We say awesome because this software technology works very nicely. DealMachine helps investors set a goal of adding 300 distressed properties to their app within the first month and send repeat mail to every property owner. This has helped many real estate investors get in the game and get that first property under contract.
3. Realeflow
Realeflow for investors is one of the best. It is an all-in-one platform with no third-party integrations. Realeflow combines lead generation, off-market and on-market property marketing, repair estimates, email marketing, direct mail lists, direct mail printing and sending, and CRM management.
Many real estate investors use Realeflow software to simplify their businesses by consolidating multiple apps into a single platform. Realeflow offers real estate investors the tools needed to successfully access their business from anywhere in the world.
Realeflow filters will find motivated sellers in specific regions, analyze potential deals accurately, estimate the cost of rehabbing the property, and then determine a fair offer.
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What Are the Best Free Property Software Platforms?
If you’re looking for a free real estate platform, you will find a few choices. When researching the different 5+ best real estate investment software for 2022 (ranked and reviewed) frameworks to use, it’s essential to ask yourself a few distinct questions:
How much real estate experience do you have?
How much creative control do you want?
Would you rather pay a small fee every month to have everything wrapped up in one package?
As a rule, we would personally go with a paid option over a free platform because the small fee will definitely save you and your team a ton of time and effort.
However, if you are just starting out as a real estate investor, and you don’t have a marketing budget, then Zillow could be the platform you are looking for.
Zillow is totally free and is one of the most popular platforms for real estate investors. To sum up, this platform allows you access to the MLS without getting a real estate license. For instance, you can find distressed properties on Zillow search for “pre-foreclosures” filter by searching under the “potential listings” heading.
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What Are the Best Real Estate Software for Wholesale Investors Platforms for Small Businesses?
Real estate wholesaling software is one of the best ways to elevate an investor’s career. Similarly, the right wholesaling software can take a business to the next level by systemizing daily operations and improving outreach. Whether you are a new wholesale investor or a seasoned vet, there is absolutely no reason you cannot benefit from an upgrade to your existing real estate workflow.
Please remember that we are looking for the 5+ best real estate investment software for 2022 (ranked & reviewed).
Here are our top picks for the best real estate investor platforms for small businesses:
As you scale your real estate investment business, PropStream is the best solution with everything you need as you grow. You can target motivated sellers, find cash buyers, compare comps, and much more with its easy and accurate filtering systems.
2. DealMachine
DealMachine’s Driving for Dollars is an awesome feature. We say awesome because this software technology works very nicely. For example, DealMachine helps members set a goal of adding 300 distressed properties to their app within the first month. As a result, this has helped many real estate investors get into the game and get that first property under contract and close on the deal.
Realeflow for investors is one of the best. Essentially, it is an all-in-one platform with no third-party integrations. To summarize, Realeflow combines lead generation, off-market and on-market property marketing, repair estimates, email marketing, direct mail lists, direct mail printing and sending, and CRM management.
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What Are The Benefits of Using a RE Software Platform?
“If your business is not online, your business will run out of business.“
This statement by Bill Gates turned out to be prophetic — the online market is now massive and continues to expand with time.
According to a recent study, over 50% of Americans prefer to shop online. Clearly ecommerce isn’t going anywhere and you can get a slice of that profit with a simple website.
The 5+ best real estate investment software platforms (ranked & reviewed) for 2022 will get you a slice of that pie. So let’s look at all the benefits of the online marketplace, and how it can successfully drive your business.
1. Easy Scalability
When you run a traditional brick and mortar retail shop, it’s difficult to cater to an audience that is potentially very far away, depending on the cities your business decides to work in.
Naturally, it’s not very easy to do that for a small or medium-scale real estate businesses, since it is exceptionally cost-intensive.
However, using your online real estate platform, small and medium businesses can now target and reach out to a nationwide audience, and scale up to many times their original size.
Being online essentially makes the whole world your oyster. As a result, you can now target particular neighborhoods nationwide and have limitless areas to find leads. With a broader reach, your sales will get a boost, and your profitability will increase in the long run.
Consequently, the great news is that PropStream, DealMachine, and Realeflow are all easily scalable to grow your real estate business to the next level.
2. Provide Ease of Navigation
It’s essential that your property platform is well-structured and easy to navigate. Without a doubt, nobody likes to struggle to navigate. In particular, the platform at PropStream stands out again in ease of navigation. Consequently, you can move different features on the screen to make the screen even more convenient and comfortable for you to use.
3. Excellent Customer Support
Customer experience plays a big part in the annual revenue of any business. In fact, it is one of the most indicative yardsticks of a competitive company.
Our top best real estate investment software platforms all have excellent customer service.
PropStream: The PropStream team of data experts are available Monday through Friday from 6 AM to 6 PM Pacific Time. Or send PropStream an email and they will answer your question promptly.
5+ Best Real Estate Software For Wholesale Investors (Ranked & Reviewed). PropStream’s Excellent Customer Service. Photo credit: PropStream.
DealMachine: If you send them a chat the person who responds will usually have their email address and a perhaps a direct phone number to get in touch. We had to recently chat with customer service at DealMachine and the customer service was excellent. Once customer service understood the situation and she completely solved the issue to the problem. In addition to this, she was able to solve the issue with only one conversation.
Realeflow: Realeflow’s mission is to provide the tools necessary for real estate investors to achieve freedom in their lives. They are available Monday’s through Friday’s 9 AM to 6 PM Eastern Time. Additionally, you can send them an email and they will respond quickly.
4. Social Media Integration
More than 3.5 billion people in the world use social media. In the United States in 2020, over 223 million Americans were using social networks. But, by 2025, the number of social network users in the United States is forecast to increase to approximately 243 million. For that reason, this is a huge market to tap into.
Therefore, it’s essential to focus more attention on social media.
5+ Best Real Estate Software For Wholesale Investors (Ranked & Reviewed). Photo credit: Statista and TNW.
5. Data and Analytics
Tim Berners-Lee, inventor of the World Wide Web, is quoted as saying, “Data is a precious thing and will last longer than the systems themselves.”
Currently, there are around 18 zettabytes of data in the world. Basically, there’s no reason why you shouldn’t tap into this area.
Your strategy to boost your business by using your real estate platform should include a plan on how to make use of your lead data and information that you and your team generate each day.
Most real estate platforms come with an in-built analytics tool that can help you track your demographics. In the same way, with the real estate platforms this demographic is called the market pulse of the city you are looking at.
For instance, view the pulse of the market in PropStream:
5+ Best Real Estate Investment Software For 2022 (Ranked & Reviewed). PropStream’s Pulse of the Market. Photo credit: PropStream.
What we really like about PropStream and what makes it probably one of best data providers is you can pull up market stats. As a result, you can see the different things like list price vs. sales price, average monthly rent, and average days on the market. Accordingly, as these market stats change you will always have a pulse on the market for the cities that you and your team are in.
6. Focus On Mobile Users
We all know that mobile phones are now more popular than personal computers.
For this reason, Google announced that their mobile algorithm will be completed by July 2022. Is your business ready for Google’s mobile algorithm?
As of March 2020, 70% of sites had already made the switch to mobile-first indexing. Essentially, mobile-first design has evolved from a forward way of thinking to a necessity for businesses.
In short, this means that Google predominantly looks up to the mobile version of your site to determine its ranking and indexing.
Thus, statistics show that as of January 2022, over 55% are using mobile to browse online vs. desktop devices taking up 42%.
Executive Summary
There you have it – our list of the 5+ best real estate software for wholesale investors (ranked and reviewed).
If you’d like to use the best overall platform that is easiest to use and best for small businesses, go with PropStream.
If you or your business want to drive for dollars, then DealMachine is the way to go with their Driving for Dollars app.
Affiliate disclosure: In full transparency – some of the links on this website are affiliate links. For the most part, if you use them to make a purchase we will earn a commission at no additional cost for you. Will this be a problem? In general, this is how we manage to create free content for you. Please know that your trust is so important for us. If we recommend anything, it is always because we believe it is worth exploring.
Last Updated on July 27, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
Best Real Estate Pre-Foreclosure Help. Photo credit: Unsplash
Updated July 27, 2024. At Financial Goodness, we are experts in real estate pre-foreclosure help. As part of the services that we offer, we provide you with the best real estate pre-foreclosure assistance. Our goal is to help you with your situation, no matter what the circumstances are.
Let’s talk about the word pre-foreclosure. The term pre-foreclosure refers to the first phase of a legal proceeding that ultimately can conclude in a property being repossessed by the mortgage company from a defaulted borrower.
In pre-foreclosure, the lender files a notice of default on the property because the borrowing owner exceeds the terms in the contract for delinquent payments. Generally, a notice of default informs the borrowing owner that the lender is pursuing legal actions toward foreclosure. However, borrowers have a few options available to them if they find themselves in pre-foreclosure.
We understand the stress these situations cause. As a result, we offer the best real estate pre-foreclosure help and we want to be an advocate to help you find the best solution for you.
We Want To Help You
If you are in pre-foreclosure we would like to help. You may feel overwhelmed and think that there is nothing you can do. However, in many situations there are options and solutions. But in many cases, time is of the essence. Therefore, it is our goal to be your advocate. Let us help you to avoid having a foreclosure on your credit report.
We specialize in helping homeowners avoid foreclosure. At Financial Goodness, we offer the best real estate pre-foreclosure help so that you can find the best solution for your situation.
We offer the best real estate pre-foreclosure help and we want to be your part of your solution. If you would like a free, confidential analysis of your specific situation and you would like to learn about your options, please feel free to call us. Our phone number at Financial Goodness is (704) 765-2161 or (727) 342-0503. Or fill out our easy confidential Contact Form and a member of our team will be in touch with you right away.
Financial Goodness Is The Answer
December 3, 2023. Financial Goodness is the areas’ premiere real estate solutions company. Since our inception, our goal has been helping property owners. Our mission is to help home owners as well as improving communities in each and every neighborhood we work in.
We invest throughout the USA with the intention of revitalizing communities. Specifically, we are particularly interested in properties in the southeastern United States. Accordingly, we offer the best real estate pre-foreclosure help available for you and your family. We would like to be an advocate to help you find the best solution. Please contact us today to find the best answer for you.
Last Updated on July 27, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
Financial Goodness is the areas’ premiere real estate solutions company. Photo credit: Unsplash.
Updated July 27, 2024. If you want to sell your house, apartment, or hotel easily, we can help. Without a doubt, we understand the distress that many people face in these situations. Likewise, we realize the pressure many of our customers feel when they think about how to sell your house, apartment, or hotel. Fortunately, we are here for you. As a result, we buy houses, multifamily apartments, and hotels. Furthermore, we understand the distress people face in these situations. So, contact us today and let’s see how we can work together!
Financial Goodness Is The Answer
Financial Goodness is the areas’ premiere real estate solutions company. Consequently, we have been helping property owners along with improving communities in each and every neighborhood we work in.
We invest throughout the USA with the intention of revitalizing communities. As a result, we are particularly interested in properties in the southeastern states. However, if a deal is good enough and the numbers work in another state, we will do it.
Through our extensive knowledge of the business, network of resources, and years of expertise, we are able to assist homeowners with a wide variety of real estate problems. Furthermore, we are a multi-service company that has the ability to BUY, REPAIR, MARKET, and SELL YOUR HOUSE, APARTMENT, OR HOTEL.
Selling Fast For Cash
Financial Goodness works with Sellers who need to sell or want to sell, but do not want to wait six months to market and sell, repair and renovate, pay real estate commissions, or wait for an approved buyer. In addition, our company works with all types of sellers and situations and can buy very quickly if needed.
We have a deep satisfaction on our reputation for working one-on-one with each customer to handle their individual situations. Consequently, with the ability to directly purchase properties and make cash offers, we can create an extremely fast, and hassle-free transaction.
We buy Your House, Multifamily Apartments, or Hotels “As Is”
No Obligation Cash Offer
Guaranteed Written Offer
Strategies To Sell Your Property Fast
Need to sell your property fast? Before, finding a reliable buyer used to be difficult. However, with us the condition of the real estate and the situation does not matter. In addition, there are many strategies that can greatly improve your competitive advantage.
We buy houses, multifamily apartments, and hotels throughout the USA. As a result, when you work with Financial Goodness, you can receive an offer you can trust. Let us understand the stress so that we can help you find a real solution.
Get Your Cash Offer
Whether you wish to move into a larger home or get rid of an unwanted property, we will work with you to achieve your goals! With this in mind, find out how to sell your house, apartment, or hotel easily.
Financial Goodness removes the hassle and headache involved with the selling process. Basically, we offer you a reasonable cash offer for your property, with zero hidden fees or contracts. Therefore, you can accept our offer or pass on the cash. If you accept, we will close on your time schedule.
In short: we buy houses, apartments, and hotels. Furthermore, we understand the distress people face in these situations. Please contact us today and let’s see how we can work together!
We Buy Properties In These Cities
We buy properties quickly all over the United States. In addition, we are also particulary interested in the following cities:
Florida Areas
Pensacola, FL
Panama City Beach, FL
Tallahassee, FL
Jacksonville, FL
St. Augustine, FL
Gainesville, FL
Volusia County, FL
Ormond Beach, FL
Daytona Beach, FL
Port Orange, FL
New Smyrna Beach, FL
Edgewater, FL
DeLand, FL
Deltona, FL
Sanford, FL
Lake Mary, FL
Orlando, FL
Mims, FL
Titusville, FL
Port St. John, FL
Cocoa, FL
Cocoa Beach, FL
Rockledge, FL
Palm Shores, FL
Melbourne, FL
West Melbourne, FL
Palm Bay, FL
Vero Beach, FL
Fort Pierce, FL
Port St. Lucie, FL
Jupiter, FL
Palm Beach Gardens, FL
West Palm Beach, FL
Boyton Beach, FL
Delray Beach, FL
Boca Raton, FL
Deerfield Beach, FL
Coral Springs, FL
Popano Beach, FL
Fort Lauderdale, FL
Hollywood, FL
Miami Beach, FL
Miami, FL
Naples, FL
Fort Myers, FL
Cape Coral, FL
Port Charlotte, FL
Venice, FL
Sarasota, FL
Bradenton, FL
Tampa, FL
Holmes Beach, FL
Brandon, FL
Bradenton Beach, FL
Riverview, FL
Safety Harbor, FL
Clearwater, FL
St. Petersburg, FL
Pinellas Park, FL
St. Pete Beach, FL
Treasure Island, FL
Madeira Beach, FL
Redington Shores, FL
Indian Shores, FL
Indian Rocks Beach, FL
Seminole, FL
Largo, FL
Belleair Bluffs, FL
Dunedin, FL
Tarpon Springs, FL
Lakeland, FL
Winter Haven, FL
Charlotte, NC Area
Charlotte, NC
Huntersville, NC
Matthews, NC
Indian Trail, NC
Mint HIll, NC
Pineville, NC
Gastonia, NC
Indian Land, SC
Fort Mill, SC
Rock Hill, SC
Texas Areas
Houston, TX area
Dallas-Fort Worth, TX area
San Antonio, TX area
Tennessee Areas
Memphis, TN area
Atoka, TN
Bartlett, TN
Brighton, TN
Collierville, TN
Covington, TN
Frayser, TN
Germantown, TN
Millington, TN
Munford, TN
Oakville, TN
Raleigh, TN
Wolfchase, TN
Woodstock, TN
Chattanooga, TN area
Knoxville, TN area
Nashville, TN area and its sub markets
Clarksville, TN
Hermitage, TN
Hendersonville, TN
Smyrna, TN
LaVergne, TN
Murfreesboro, TN
Columbia, TN
Spring Hill, TN
No Decision Is The Worst Decision
Basically, as we all know, the decisions we make each day will help or hurt you in the short run. They will also help or hurt you in the long run as well. Overall, the decisions you make each day can and will provide the destiny that you desire. We look for a destiny of abundance so that the seller as well as the buyer can move ahead.
Everyone wants abundance because abundance means we will have the money to improve our lives. So right now, let’s thank God for his abundance in our lives.
In addition, I would like to share with you the Five Best Rules Of Decision Making. But just please remember that no decision is the worst decision!
Commitment To Help
Financial Goodness is truly committed to helping each individual owner. In addition to this, we focus on fast response, integrity and over-delivering on customer service.
We strive to respond to calls or messages within 24 hours. As a result, by putting the customer’s needs first, whether selling or buying a home, apartment, or hotel, we can help you realize your real estate goals.
Our Mission
We invest with the intention of revitalizing communities and encouraging home ownership. Therefore, our mission is to rejuvenate neighborhoods and increase the standard of living by improving the overall quality for the residents in each community we work in. Please Contact us today.
For this reason, take action and contact us today. We would like to help solve your property problems today. With this in mind, find out how to sell your house, apartment, or hotel easily, because we buy houses, apartments, and hotels. Furthermore, we understand the distress people face in these situations.For this reason, Contact us today and let’s see how we can work together!
Yours Sincerely,
George Alexander Roy III and our Skilled Team
Last Updated on July 27, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
Buy Colombia Property. Photo of Medellin. Photo credit: Unsplash. Thank you to Daniel Vargas.
Updated April 13, 2024. Everyone can buy and own property in Colombia, South America. If you are looking to invest in property in Latin America, especially if you are from another country, Colombia, South America, should be high on your list of destination choices. The Colombian people are friendly and they welcome foreigner people to Colombia. The climate is also very welcoming, with a variety of landscapes that will meet the needs of many buyers. As well, Colombia has one of the strongest performing economies. In addition, the price points for the real estate properties are particularly affordable in this Latin American region.
Consider Buying A Property Overseas
There are benefits that you might want to consider for buying real estate overseas. Andrew Henderson, from the YouTube blog Nomad Capitalist, emphasizes that people from the United States, Canada or Australia might want to sell their property in these countries and invest in overseas properties. Check out Andrew’s YouTube video called the Benefits of International Real Estate Ownership.
Andrew points out that the problem with investing in the U.S., Canada and Australia are that the property returns are low and the taxes are high. For example, in Australia the returns on rental properties are like 1 to 2% only! If you consider buying a property in another country many times the returns are much higher and you can have a friend run the property management for your off shore properties. But, not in Colombia, South America. The attractive reality is that everyone can buy and own property in Colombia!
Colombia Has Very Nice Rental Returns
Let’s take a look at the Colombian property rental revenues. If you buy a residential apartment to rent in Colombia, I would say you are looking at a minimum of a 12% average return. Then add in the increasing value of the real estate of 10% on average for the last three years. Not too bad, right! I first came to Colombia in 2005. I have watched every year as the economy and housing prices haven’t gone down, they just continue to increase. For this reason, the housing market in Colombia, South America is one of the best kept secrets in the world!
Looking For Global Asset Protection?
Another reason that people look at global real estate is the idea of asset protection. This is kind of like a form of government insurance. You can protect yourself not only on an asset basis, but you can protect yourself from some of the madness that’s going on around the world today because everyone can buy and own property in Colombia. To me, that is a win.
In addition, if you are a U.S. citizen or some other countries citizen that has foreign tax rules, this is one of the few ways that you can legally have a non reportable asset. For example, if you are a U.S. citizen and want to buy a house or some land overseas in another country you can do it. You can wire the money overseas and pay in cash.
There is not an IRS form on which you need to report. There is an FBAR, or an FATCA to report a lot of assets. But not for foreign real estate or in the precious metal of gold. This is fantastic, because in the U.S. you have to pay taxes on the income from any property. But if you want to park money in foreign real estate and enjoy the appreciation you can do it with relative safety and it is non-reportable.
Be Well Diversified In Your Investments
The last reason why you might want to consider buying foreign real estate is because doing so is part of being well diversified in your investments. Perhaps you have always dreamed of having a second home or vacation home in another country that you could go to spend part of your time. In Colombia, it is possible that you could get a residence permit by owning property here.
It is also possible that if you spend some time here in Colombia it can lead to a residency permit. Depending on the size of your Colombian investment, you can apply for a one-year or five-year visa. There is also the possibility that you can become a citizen as well. This citizenship gives you other opportunities as well. To give you an example, your Colombian real estate is also a safe and secluded place to go if you are worried about chaos in the world.
The Legal Process Of Buying Property In Colombia
If you are a foreigner, you can in fact buy property in Colombia. The Colombian government recognizes the importance of foreign investment. The good news is that the procedure is the exact same process for foreign individuals as it is for locals! The only requirements are you need to have a valid passport and sufficient funds for the purchase of the real estate.
No National Licensing Systems
The real estate market operates very differently than your home country if you are from North America or many Eurpean countries. Here in Colombia, there is no national licensing system in place. This is a turn around if you are from a country like the United States or Canada where the agents are always trying to ask for and demand the exclusive rights on your property.
As a result, not having a national licensing system in Colombia has led to a proliferation of real estate agencies called inmobilarias. Many investors will be surprised to find out that it is very uncommon for sellers to have exclusive agreements with what are called inmobiliarias. This is good news if you are used to paying much higher fees for buying or selling properties. If you have been paying high fees to brokers, you are going to really like the commission rates in Colombia.
Nice Commission Rates
The standard commission for real estate agents in Colombia is just 3%. The great news: quite often the 3% fee is split 1.5% and 1.5% between the buyers and sellers agents. In short, here in Colombia, the low commissions are very nice for buyers and sellers!
Highly Negotiable Property Prices
Overall, is important to point out that here in Colombia, in Bogota and Medellin for instance, it is not uncommon for a property to be for sale for many months before a buyer is found. So, the huge advantage is: most property prices are highly negotiable.
Hide The Fact That You Are A Foreigner
Have a real estate professional do the research on the properties that interest you, how long they have been on the market, and how motivated the sellers might be. I recommend always using a local agent to negotiate the price. Hide the fact that you are a foreigner because this may cause some type of discrimination. Here is the secret: only reveal that you are actually a foreigner after the Promesa de Compraventa has been signed.
Three Necessary Tips
Everyone can buy and own property in Colombia. Here are three more tips that you need to do.
Firstly, is to open a Colombian bank account. Again I highly recommend working with real estate team because this step can be a daunting one. So get the right help from the beginning. Your real estate team will be able to help you determine certain details such as whether to buy in your name or in your company’s name.
Secondly, make sure to leave a paper trail. Buying real estate is easy to mess up, but a smooth operation when done by professionals.
Finally, hire an attorney. Having a good attorney will help with the stresses of an international real estate venture.
Legal Process To Buy Colombian Real Estate
I have found an excellent article called How To Buy Property In Colombia: The Legal Process, written by the legal team Colombia at bizlatinhub.com. Below the the steps needed so that everyone can buy and own property in Colombia.
First, find the property that you are interested in investing in. Then acquire a Certificate of Tradition and Liberty or ‘Certificado de Tradición y Libertad’. The Certificate of Tradition and Liberty contains all the information about the property and the properties history.
The properties history includes ownership records, mortgage history, legal claims on the property as well as any works carried out on the property. This property work includes when significant work to the property has taken place.
You can request the Certificate of Tradition and Liberty at the Registry Office. Requesting the Certificate of Tradition and Liberty will cost $15,700 pesos. Or if you convert Colombian pesos to dollars,about $4.60 USD. Nice price right? Welcome to the prices of Colombia!
Taxes and Fees Of Buying Property In Colombia
You want to ensure that the previous owner has paid all of the outstanding taxes on the property. You need to obtain these two certificates directly from the owner:
Tax free property certificate (Paz y Salvo Predial). This certificate guarantees that all the municipal taxes on the property have been paid.
Tax free on value gained property certificate (Paz y Salvo Valorización). This certificate guarantees that all taxes have been paid on the increase in value of the property.
Buyers Fees
At the time of purchasing the property, the buyer must pay different taxes and fees which total 1.65% of the value of the property. The 1.65% value of the property consists of:
1% tax on the property’s value for the registration of the property.
0.5 % fee of the property’s value for the registration of the property.
0.15% fee of the property’s value for the notary.
Sellers Fees
The seller of the property must pay between 3.63% and 4.79% of the total value of the property in taxes and fees:
0.15% fee of the property’s value for the notary.
3-4 % (including 19%VAT – value added tax) fee of the property’s value for the real estate agents.
Final Step For Buying Property In Colombia
The final step to buying property in Colombia is the signing of the Public Deed or ‘Escritura pública’ and this will confirm you as the new legal owner of the property. The Public Deed is a written legal instrument and you must hire a notary to produce it. The following taxes and fees apply:
Public Deed Fees
0.25% fee of the property’s value for the notary.
1% of the value of the transaction as an advance payment to be applied to the Income Tax.
Once the Public Deed is paid for and signed, it gets registered at the Registry Office and then consequently at the Cadastre or ‘Subdirección de Catastro’ where you will be officially registered as the new owner of the property.
Buy And Own Property In Colombia
There you have it. In conclusion, everyone can buy and own property in Colombia! To prepare, I would definitely recommend doing more due diligence on specific property regions and areas that you may be interested in. I would also recommend looking at property in Bogota or property in Medellin. Both of these locations have the potential for excellent returns. If you have a question or need more help, please send me a message.
Did you know that there is actually an equation for wealth? I invite you to check out my blog on how to Build Unlimited Wealth With Money’s Untold Truth and achieve your dreams and living an amazing lifetyle.
Until my next blog, best wishes!
Deuteronomy 8:18. But thou shalt remember the LORD thy God: for it is he that giveth thee power to get wealth, that he may establish his covenant which he sware unto thy fathers, as it is this day.
Matthew 7:8 NLT. For everyone who asks, receives. Everyone who seeks, finds. And everyone who knocks, the door will be opened.
Last Updated on April 13, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
Updated April 13, 2024. Say that you want to buy houses, but you don’t have cash or credit. In addition to not having cash or credit, you don’t think you would qualify for a home mortgage. What is the answer? You have read books and videos about investing in real estate. Again, are there any options available to buy houses without cash or credit? The answer is yes! You can be buying houses right now using creative financing without any cash or credit.
Three Ways To Buy Houses
Here are three ways that you can buy houses without cash or credit. All you definitely need is a really motivated seller. If the seller isn’t really motivated, the answer is simple. Wait for the next deal to come up.
The three options to buying houses that we will go over in more depth are: owner financing, subject to, and lease options.
Owner Financing
Owner financing is a transaction in which the property owner finances the purchase directly with the person or entity buying the property, either in whole or in part. This type of arrangement can be advantageous for both the buy and the seller. Basically, it eliminates the costs of a mortgage from a bank. As the real estate investor, ask for $0 down payment, and an interest only payment.
If you have ever purchased a house before, you know that when the house ownership changes hands it seems everyone wants a piece of the pie, so to speak. The mortgage is part of this equation because a part of the mortgage each month always goes to pay down the principal. If you can negotiate an interest only payment with the seller, you will pay down the price of the property more quickly.
Subject To
Subject to means that the investor will offer to take over the original owners payments because the owner was falling behind. Why would anyone agree to leave their name on the loan and let you become the new owner? There is a rule in business that says “you are not your customer.” So you can’t really put yourself in the owner’s shoes. For whatever the reason, the original owner is highly motivated to get rid of their property. The good news is that luckily you are there to creatively solve the issues and problems so the owners can get on with their lives.
You agree to take over the original owners payments. Why would you do this? There are two reasons. One: time is of the essence. You don’t have time to see if you qualify for a mortgage. The owner’s want out now. The second reason: the original owners payments are less than the bank would give to an investor by a few percent points. So use the mortgage that is already in place. Basically, the bank doesn’t care where the money is coming from each month to pay the mortgage. The bank just wants the money each and every month. After you take ownership of the property, then you can start to consider if having your own mortgage makes sense for this property.
Lease Options
Lease options. The buyer investor pays the seller option money for the right to purchase the property at a later date. The buyer and the seller can agree to a purchase price at the inception of the agreement. Perhaps the buyer might agree to pay market value at the time the option is exercised. As a result, owner financing and subject to do not work.
If owner financing doesn’t work because there is already a mortgage on the property, and in addition, subject to doesn’t work because probably they owe too much based on the value of the house. If that is the situation, then a lease option could make the deal work.
Lease Option Agreement Example
The value of the house or apartment is $150,000. The loan on the property is $140,000. The investor would agree to lease the property for a period of say five years for $1000 a month with the option to purchase the property for $145,000. Then you, the investor, can rent out the property. Keep the original owner’s mortgage in place and just make payments. Check the numbers and make sure you are positive with your cash flow.
Depending on the location of the house, if the area is appreciating, in five years you could exercise your option and purchase the property. However, if the area is depreciating you may be better off deciding to not purchase the property. In this instance you can always try to renegotiate the price of the property to an agreeable value.
No Excuses For Owning Multiple Properties
So there you have it. These are three awesome ways to buy houses without cash or credit! Many real estate investor professionals use these three ways exclusively in their careers. If you are looking to invest in real estate or looking to take real estate investment to the next level, seriously consider the techniques we have just talked about.
I know real estate investors that stick to these three buying techniques and have the profits each month from hundreds of property rental houses that they control. Therefore, if are interested in finding out how they do it, please read my blog on the best three ways to Boost Your Rental Property Cash Flows.
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Finally, if you are interested in Becoming A High-Net Worth Individual, please read my blog and watch the YouTube video by a fancinating guy named Andrew Hendersen, founder of Nomad Capitalist. He believes that the world has changed forever and says it’s time for you to “go where you’re treated best.”
Best wishes to you in achieving your financial freedom sooner!
Last Updated on April 13, 2024 by Financial Goodness
Financial Goodness
George Alexander Roy III and our team are experts in helping you to seek wealth through investing and tips on how to succeed. Join us at FinancialGoodness.com to increase your knowledge through education in the areas of personal finance, real estate, and investments. George has been an owner of a real estate investment business that focuses on wholesaling, fix & flip, and long-term buy-and-hold property strategies with a consistent increase of annual revenues. Consequently, as an entrepreneur, researcher, writer, and speaker he has sought the truth in everything he does, no matter how difficult. Hopefully this value and service will help each person achieve their financial freedom sooner.
