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10 Features You Might Want In Real Estate Investment Software But Didn't Know Exist
Rather than having to worry that they will know enough about spreadsheets to include the required calculations (not to mention being able to format the reports worthy enough to present the data) most are turning to real estate investing software to do the cash flow and rate of return projections for them. Say, for example, you were a heart surgeon about to perform a triple by-pass, you would focus your attention on the procedure, not on trying to learn how to manufacture a scalpel. In the same way, agents and investors engaged in investment real estate will use the tool provided by the real estate software guys, and allot their time to their primary objective; namely, to to make money buying and selling real estate. Okay, enough said, I'm sure you get the idea.So now allow me to suggest 10 features you might want consider in the software solution you intend to use for your real estate investment business. The list, of course, is not exhaustive, but it does include a number of features that you might not have even realized are made available to you in some investment software solutions. 1. Canadian loan amortization – This will enable you to create a rental property analysis with the correct computation for mortgage payment in the USA as well as in Canada. 2. Global currency symbols – This would allow you to use currency symbols such as the pound, yen, or euro as well as the dollar symbol in your reports. 3. Revenue projections with the option to "step" the vacancy rate, income, and operating expense – Many real estate investing software solutions include a Proforma income statement for revenue projections, but it helps when you can stagger those rates and amounts throughout your projections rather than using one rate or amount across-the-board. 4. Rent scenarios evaluation – You will find it extremely beneficial to see how changes in rents might affect the cash flow, rates of return, and profitability of a rental income property. 5. Sensitivity analysis option – This enables you to evaluate a wide-range of crucial data based upon a worst case, probable case, and best case scenario for such things as sale price and down payment. 6. Multiple loans option – This allows you to include more than a primary loan in your analysis such as a second loan and a third loan. You should also expect the software to give you an easy option to select whether the loan is a fixed-rate or interest-only. 7. Capital add-ins expenditure option – This would be so you can include a cost for estimated capital expenditures you are planning for the property and have the real estate investment software adjust the cash flow and other data accordingly. 8. Photos option – Being able to show photos of the property in such reports as the coversheet, marketing package, and perhaps a separate photo page is a real plus. You should expect the investment software you select to provide a quick and easy way to do this. 9. Marketing package and/or executive summary – If you're planning to resell the investment at anytime in the future then you will also want the software to create some professional reports you can present for marketing the property. 10. Other considerations – In addition to the features listed above, here are some other things you should expect in the real estate investment software you elect to purchase. Easy to use, user-friendly forms, calculations for all key returns, professional-quality reports, seamless printing, technical support, help file, and free updates. It should be noted that these and other options are available in the real estate investing software I developed for rental property analysis. So you might want to begin your search there simply by following the link below. Here's to your success. Article Directory: http://www.articledashboard.com James Kobzeff is the developer of ProAPOD - leading real estate investment software since 2000. Create a rental property cash flow analysis in minutes! Easy to use and affordable. Learn more => www.proapod.com |
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