Real Estate Software 3

Affordable Real Estate Investment Software (Part III)

Let’s explore another real estate investment software program that a lot of investors are probably familiar with, and that is Argus. Argus is a very well organized “product matrix” of extremely specialized software programs that include: Asset Manager, Development, Development Budget, Enterprise, Leasing Software, CRM software, Property Management and Property Budget Software etc. In addition to the programs they have products a called “solutions” which is a tab that will point you in the right direction, for which software program you may need the most.

Argus, despite its slick, clean and almost medicinal approach to real estate investment software programs has a price tag to match. The products have time line tags on them that do span over a matter of years, the most common is three years, but nothing is under $3,000 for those packages. It also seems that for beginners in the real estate investment world Argus, while informative and intensive, may not be as user friendly for beginning real estate investors, or anyone who isn’t proficient in the language of their program.

Their website itself is quite a maze of information albeit eventually helpful, more often that not it’s a little intimidating and confusing. Just trying to get down to which program best suits you best and deciding which packages you need, can be cumbersome. A plus for Argus, is that there isn’t a lack of products available. There is an entire network of mixing and matching software options so that you can “customize” exactly what your needs for the program may be.

Between the extended price protection plans, standard price protections plans, and basic price protection plans in addition to single user options or multiple user options you can begin to weed out which program won’t work for you. The user option is helpful for those that run their own real estate investment firms and want to purchase a software program that will enable the entire office to be using the same technology. Argus even offers study guides to help you decipher your new “helpful tools,” although the fact that they even offer such a product is a sign that this program isn’t for the faint of heart and especially not for those that just found out how a spreadsheet works.

If you are a whiz at software programs and if you are extremely familiar with commercial, multifamily, or residential real estate investing this type of software may fall right in line with your need for speed and efficiency. Keep in mind the price, the content, and the “user friendly” capabilities when purchasing any software program. For illustrations sake, if all that you need is a reliable Honda to get you back and forth in an efficient and reliable way, there is no need to spring for the Jaguar unless you are desire that certain type of speed that is derived from an intricately foreign network of data.

Real Estate Software 2

Affordable Real Estate Investment Software (Part II)

Pro APOD real estate investment software is like the next software program we will explore, REI Wise real estate investment software, in that it has ambidextrous abilities to cater to the residential, commercial and rental investor. They advertise that they are affordable, stating on their home page that their desktop products range from $59-$499, which is quite a range!

One significant difference between Pro APOD and REI Wise that is noticeable right off the bat, is that REI Wise requires a monthly fee for their online programs. The desktop programs are offered separately. This is clearly stated along with the purchase price on their site. Their online software has the advantage of being able to access their investment software data from “any internet connection”. They claim that this is efficient and convenient for those investors that are on the road and that have extensive travel as a part of their job description.

This type of hosted database materials is called “cloud” data. This means that a site hosts all of your data instead of your personal or work laptop or PC, which is available 24 hours a day for you to access. REI Wise says that it is “backed up on secure servers”, and hopefully this is the case. The potential problem with “cloud” database networks is that there is the potential for intermittent crashes, and if the company is small or a start up company there is also the slight chance that they could go out of business and take all of your data down with them. However this may or may not be the case for REI Wise, a little bit of research into their reliability as a hosting network would sew up that question.

They offer products for the following investor types: commercial and multi-family real estate professionals, multi-family and residential real estate professionals, individual commercial and multi-family investors, individual multi-family and residential investors, as well as the “complete novice” commercial, multi-family, residential or “all of the above” investor.

The Prices for each of these software programs are dependent upon the level of expertise and what your needs may be. For the commercial investor they describe their product this way, “With REI Wise Commercial you can produce a solid financial analysis of your commercial investment with fully branded, truly superior marketing materials”. The commercial options range from the WisePro, which is $59.00 for the desktop version and $25/month for the online program subscription fee, which equals out to be $300 year for the service.

If you only need the residential program, they offer the REI Wise Entrepreneur Program, which includes the following options, “Full 20 Year Projection for Financial Analysis, Full Proposal Capabilities, Executive Summary Report, True Pro-Forma Reports, Interactive Sensitivity Analysis”. This program is $149 for the desktop version and $15/month for the residential only online program, which is $180 a year.

Here is one review from a REI User, “I purchased a subscription to REI Wise Commercial online and have been very pleased with the product. It is much more user-friendly and easier to use than other products such as Argus and PlanEASe®. From the day I purchased the subscription, I was able to analyze several properties and immediately get the full value of the product.”

Real Estate Software

Affordable Real Estate Investment Software (Part I)

Ask any successful real estate investor what’s most important when you are becoming a real estate investor for the first time, and they will likely respond with “get educated”, and “do the math”. You can not excel in an industry that is tightly wrapped around a fluctuating market, without understanding what your up against and how to best safeguard yourself against common mistakes. Once you find a mentor and can begin investigating investment strategies with them, it is best to try and simultaneously invest in a real estate investment software program and familiarize yourself with different financial analysis models available to you by crunching the numbers yourself.

The market is saturated with these software programs, so it’s difficult to determine which will yield the most “bang for your buck”. Ironically investing in real estate investing software isn’t unlike searching for the perfect investment opportunity itself. There is a lot of comparative analysis to consider when choosing a program, as well as the cost effectiveness of the program you choose. There are affordable and worthwhile options, but it is mostly dependent upon how advanced your financial analysis education is to begin with, and how much you want to spend on furthering that knowledge.

ProAPOD is one of the leading software programs of its kind. It has beneficial data for brokers, agents, investors, consultants, and appraisers for the real estate community. The software has built in forms with fields where you can input your data. The calculation of even some of the most complicated rates of return or property valuation formulas are at your fingertips. It also allows for you to develop presentations for any and all of your listing needs.

Whether you are a marketer, investor, lender, of in charge of the investment decisions you can use the smart forms that ProAPOD offers and compute rates like a professional. The newest version of this software is ProAPOD 10.0. It is advertised as their most comprehensive program. Other options that are included: before and after tax cash flow, loss and benefits of taxes, recapture tax, capital gains, real estate depreciation for both residential an commercial real estate. This version can be fairly complex, so you may want to be familiar with the ropes of real estate investing before you purchase this program.

Pro APOD does offer a software program for those who are just beginning in the real estate investing as well. This is the Pro APod 4.0 real estate program. It provides a new investor with the most essential and beneficial data he or she may need for initial financial analysis. This software includes the following investment information: annual investment summaries, proforma income statements, monthly cash flow, down payment sensitivity, acquisitions, cover sheets, monthly amortizations, and annual amortizations.          The basic goal of this “beginners” software program is to determine what your profitability, cash flow, and rate of return will be.  The Pro APOD 4.0 yields extremely crucial data that can make or break you investment success.

Real Estate Investing Books

Real Estate Investing Books

If you are just beginning in real estate investing, or have noticed that the real estate business has completely changed since you first got in the game, there is an unquenchable need to learn everything you can about this highly lucrative business by seeking out the most current and up to date information available. Aside from market trends and stat tracking, sometimes a good old-fashioned page-turner is the best way to get prepared and up to speed.

However, not only should the information in any text that you purchase be beneficial and applicable to any type of investor, but it should also be easy to digest. Some investors can lose themselves in the strategies and numbers, weaving an incredulous web of complicated equations and financial analysis models.

While this type of instruction can be very helpful when you are crunching your own numbers, it is not necessarily the most practical way to get your feet wet in an industry that will be consequentially be “numbers” and “values” driven for the entirety of an investor’s career. Biting off a few bits of advice in easily understandable, creative and even fun way is a great approach to help retain information and be motivated to begin building your investment portfolio.

The learning curve that an investor may go through when trying to retain information, opinions, advice, and the basics can be a slippery slope. This is doubly true if you are getting the wrong or outdated information. When choosing education materials, it’s worth it to research what real estate investment literature and texts are considered to be the best. It is always in your best interest to educate yourself, especially in an industry that can fluctuate so quickly with current and cutting edge materials.

One of the books that should top any real estate investor’s list is “Upside Up Real Estate Investing” by Bob Zachmeier. Zachmeier is a seasoned investor and has nearly 30 years of “street” credentials. Written with the tempo of an autobiographical “how-to not do what I did” voice, he offers a step-by-step guide to investing. Zachmeier is generous in sharing his triumphs and mistakes, imparting some wisdom to those who will inevitably find themselves in the same situation at some point in their own investing careers. He specifically addresses thee “brass tax” of the investing industry by compiling his own strategies on planning, analyzing, inspecting, financing, and closing. “Upside Up Real Estate Investing” is easily accessible, but not easily forgettable, making it’s compilation of advice and warning well balanced and understandable.

Another helpful text is a brand new title called, “The Highest and Best Real Estate Investment”. Upon it’s release in 2008 it has been met with rave reviews from investors and reviewers. The author, Mike P. Watson, is also a seminar educator for investors, and has finally put all of his unique strategies down on paper. He developed a system called, “The Foundation to Success” and he includes that material in his guide. Using “revolutionary techniques” he views his investing theories as singular in it’s kind, since he prides himself on finding properties that wouldn’t be commonly considered profitable, and unveiling the enormous amounts of hidden potential within these untapped markets.

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