A Real Estate Agent in Your Pocket

A Real Estate Agent in Your Pocket

Rental and investment property owners are well aware of the need to keep tabs on their portfolios, maintenance profiles, property managers, and other relevant financial problems. Keeping track of lease expiry dates and rent due dates is easy with the Palm Pilot system's many apps. In addition, they'll let you know how much each rental's late fines are and when you need to send out late warnings. As soon as you know when your lease expires, you may write a new lease contract or arrange for the repairs and sale of your apartment thanks to these programs. Aside from the annual totals for property management and maintenance expenses, they'll also compare those sums to your collected rentals. To get a notion of how the property is doing, look at this. You may be able to make Excel spreadsheets from the data if you HotSync your phone with your PC.

For each property, these applications will also keep track of the handyman assigned to that particular residence and other relevant information such as warranty company information, insurance policy details, and tenant phone numbers. Each property in your portfolio may have its gross scheduled income (GSI), gross operating income (GSO), net operating income, and cap rates recorded in a variety of systems.

Your best bet is to experiment with a few different programs before making a final decision. Just browse Palmgear.com, and you should be able to locate precisely what you're looking for in terms of rental and leasing equipment:

The latest version of Rental Manager is 2.16. This is a fantastic program for holiday rental properties!! Retain an eye on inventory, receivables, pending reservations, and expiry dates.

You may input the price of the property and the percentage you'd like to earn, and Rentulator 1.01 will calculate the amount of rent you'll need to collect. The tool will tell you what you need with the right numbers typed in, but you will need to calculate total debt service and other elements first.

Almost all of my properties have property managers who collect rent and do unit inspections on a regular basis. When a tenant phones with an issue, all I have to do is determine whether it needs the warranty company, a fast repair by a handyman, or if I'm in the neighborhood, I may simply go by and take care of it personally on those properties I manage myself. No matter where I am while the call is taking place, I have access to all the information I need. I've learned to expect not to be near my computer or filing cabinet when my renters call. Fortunately, thanks to your smartphone, you won't ever have to leave your house again to access your data. Isn't it wonderful?

All of your most critical documents are at your fingertips at all times!

Agents in the real estate business

Every facet of the real estate industry can be tracked by some of these applications. The MLS (Multiple Listing Service) may be searched by real estate agents and brokers at any time and from any location. Lockbox codes will be stored in the application and then matched up with the property's address and location. You may also keep track of both gross and net commissions in real estate. You may even create monthly sales objectives, which you can then compare to your actual closings at the end of the month to see how well you're doing. You may print annual and monthly progress charts by exporting these files to a spreadsheet of your choice.

Next, we'll look at a service that charges a subscription price. Supra and eKey are included in this list. Supraekey.com has the information you're looking for.

You may subscribe to a service to access your listings and the whole MLS as a registered real estate agent. Supra Keyboxes may be opened with this app, which uses your smartphone as an electronic key. Using your smartphone's IR (infrared) port, point it at the keybox and hit the transmit button to open it if it is an electronic iBox.

If you don't want to miss out on a day's worth of software updates, you can either HotSync or eSync your phone, or you can just hit the "update" button in the menu. Between 12 and 6 a.m. each day, the default will log in and refresh your key automatically. You can see who has seen the ad, the date, time, and name of the office where it was viewed. As a precaution, the program will try to connect every 30 minutes for 30 minutes until it finds a signal and updates itself. Instead of driving to the listing and collecting business cards, you may have the information you need directly in your inbox. All codes, lockbox activities, and your MLS will be updated by the time you wake up. You'll be able to see how many other agents have seen and shown your listings. If a listing was updated to your MLS by someone in the office, it will now appear on your smartphone.

Lockboxes of the AEII type need metal contacts to be slipped into the shackle to open. It is necessary to utilize a "super unit" for the metal contact key that is incorporated into the casing of the earlier units (s). Your PDA's eKey shell has to be inserted into an AEII-type Keybox to begin using it. Alternatively, you may use the iBox type keyboxes to unlock your door by pointing your phone at the iBox and pressing the button. Always keep in mind that iBoxes automatically relock after 30 seconds of inactivity.

When you go to the site, just update the iBox codes on your handheld and broadcast them to your lockbox.

An agent's go-to tool for everyday communication has now been made available to associations and brokers. What if you need to suddenly modify the date or time of a meeting? There are messages on the screen. Basically, SMS stands for text message (small message service).

Wouldn't it be convenient if, while driving through a neighborhood, you came upon the ideal house for your customer or yourself and could just punch in a few digits and have all the pertinent details at your fingertips? In addition, you may be able to get the lockbox codes straight away and see the property right then and there. This is what we call productivity, so hop on board or risk being run over!

Your own listings may be filtered by any of the following areas: location (as well as price and status); class; status; bedrooms; bathrooms; and up to three extra customized fields that you can adjust to what you want or believe is relevant.

In addition to this, there are several additional services available to help you become a top seller in your region. When farmland prices rise or fall in your region, you may get SMS text message comparisons from www.homegain.com's one service. Some places are now requiring a monthly fee to be monitored, which was previously free. You may also use this service if you already own a home and want to know when it's time to either refinance or sell it. A crisis in the housing market, on the other hand, would see values plummeting at a quick pace. But it's still wonderful to be able to see how your properties are doing without having to do extensive research every month. That way, you can either go on with your life or dig into the data for a certain property and take the appropriate action.

In order to obtain a free copy of the ebook, send an email to ebook@robertlett.com with the subject "ebook" in the body of the message.

The ability to forecast your future cash flow

It's important for me to keep track of all of my notes from possible real estate investments when I'm out inspecting properties. To find out whether I'm looking at a positive or negative cash flow later, I may use my HP-12C calculator (shown below) to run the figures. Of course, you'll want to factor in the possible resale value of that particular region. In order to reap the benefits of appreciation, you may have to accept some negative cash flows. In the face of a high level of admiration for a location, a tiny negative might be appreciated. No questions remain regarding which property has particular characteristics and cash flow when I return home. If you want to determine which property is the best investment, you may use TriLoan (see below). With this application, you may compare up to four different loans or houses at once. Everything you need is at your fingertips.

The Theory of Real Estate Income

The KK-12C calculator emulation software, developed by KK Technologies Co., Ltd., is excellent. It's so similar to the calculator on the Palm that it's almost uncanny. If you're already familiar with the HP-12C, you won't have to learn anything new about utilizing this application. RPN (Reverse Polish Notation) financial calculators have been around for a long time, and the HP-12C is one of the most popular of them all. I like the fact that I can have it with me at all times. The KK-12C has a lot of features that aren't available on a normal calculator. All registrations may be stored at any time with an infinite number of sessions, which is a convenient feature. This is great for later watching.

Three out of four loans failed to be financed.

A total of four loans may be compared at the same time using this application. Simply input the loan amount, length, and interest rate, and the computer will handle the rest.

You may compare up to four properties or loans at a time on your Palm-Pilot display if you're doing comparison shopping. This is fantastic for field work, since you don't have to jot down the numbers and wait till you can get to a computer to see whether any of them are a good bargain.

To see where you are in the amortization table at any given time, the program lets you save all of your properties under a single name that you specify. It is possible to calculate your investments down to the cent using over 200 different methods of doing so. For example, you may see how much equity you have in your property and how much you owe on your mortgage.