Crunching the numbers to ascertain cash flow, rates of return and profitability is a must for real estate professionals who seek to service income property and individual investors who actually invest. But it can be daunting without the aid of real estate investment software.
When I first started selling multifamily property long before computers and any kind of software, the numbers were crunched manually.
This was not only time-consuming, but it necessitated a clear understanding of what data was most important to a buyer or seller for wise investing decisions; not to mention knowing the formulas required to compute that data.
Then, of course, there was the issue of presenting the data. The earliest rental property reports I created for investors required pains-taking hours of virtual cutting, pasting and copying. The data had to be typed, cut out with scissors, glued unto another piece of paper that resembled a report and then finally run through the copy machine.
Thanks to computers and real estate investment software that has all changed.
- Formulas don’t need to be learned
- Calculations don’t need to be done manually
- Reports don’t require scissors and glue
- What used to take hours now takes minutes
- What once looked tacky now looks professionally elegant
With today’s automation, property data is now formulated, calculated, posted, and subsequently printed
with the click of a mouse. How easy is that?
It’s baffling, therefore, that more real estate agents and investors are still struggling to work with multifamily property without the benefit of using real estate analysis software. Whereas some still prefer to reinvent the wheel by by developing their own spreadsheets, worse yet, others simply are ignoring the process of crunching the numbers altogether. This doesn’t make sense given the effectiveness and affordability of modern-day software.
With the web you can locate, purchase, and download an investment software solution at an affordable price and begin using it immediately without leaving your desk. So it’s easy to get involved and start taking advantage of the benefits without the cost of an arm and a leg.
Here are a couple of suggestions that might help you find the best real estate investment software for your business objective should you decide to.
Foremost, look for a solution that’s easy-to-use and includes ample computations for rates of return, ratios and measures, creates quality reports, and provides a good customer support policy. Other features you might look for (depending on your individual business needs) are computations for tax shelter and time value of money, the ability to create both, analysis and marketing presentations, perhaps USA and Canadian loan amortization, and maybe even the ability select your own currency symbol rather than a dollar symbol.
At the end of the day, folks, it’s just a smart way for you to crunch income property numbers. Real estate investment software is easy, concise, and it will free you from countless hours which you can spend planning new ways to invest and grow your real estate business.
So You Know
ProAPOD® provides Canadian amortization in its real estate agent software solution. The ability to select currency symbols is provided in our Executive 10 real estate investing software solution. Learn more about all our features at www.proapod.com