Real estate investor software solutions

Given our newly-washed cars and those coveted designations hanging on all four walls of our office, one certainty can be said inherent to all real estate professionals--that image matters.

It is surprising, therefore, that so many real estate agents trying to market multifamily properties throw image out the window and do what some construe as the not-so-professional practice of simply "throwing it up against the wall hoping it sticks". A practice not highly appreciated by real estate investment professionals, and presumably not without adverse side-effects on any marketing campaign.

Whether you plan to market a duplex, multifamily units, or an apartment building, it’s important to understand the nuances of income property, what a real estate investor buys, and how best to present it to clients and colleagues.

So let’s take a look at a couple of proven ways you can market income property that will kick your image up a notch and let your colleagues and customers know you are serious income property contender in the process.

Show All the Numbers

Residential agents are more fond of showing amenities than the essential numbers. But amenities have little use unless they pertain to rent-ability (i.e., decks, extra storage, fireplaces,etc.). Put the emphasis on current monthly (or annual) rents and operating expenses. Nothing is more frustrating to an apartment specialist then having to make a call to obtain income and expense data.

Run the Numbers

Show what the cash flow and rates of return are based on your numbers. It’s not that difficult for you to calculate financial measures like cap rate or gross rent multiplier. If you don’t know how, ask a friendly colleague who knows how, or invest in real estate investment software that does it for you. Having these returns readily posted makes you look like you understand investment property and in turn will do wonders for your image and potential future business.

Present Reports

Most inquiries about rental income property request a marketing package (or executive summary) because it commonly shows the property’s income, expenses, rents, unit configuration, size, age, features, current loan information, and sometimes a picture or other information helpful to the investment decision process. The more reports you have ready to present (like an APOD, rent roll, or pro forma) the better you look, and in fact, the better the chances you will evoke a meaningful response. Here again, you can turn to real estate investing software for a wide-range of professional-quality reports if you don’t want to spend your time creating them.

Use Meaningful Numbers.

Avoid the temptation to use pie-in-the-sky rents and expenses. Most real estate investment professionals and active investors are going to uncover them eventually, and they won’t appreciate the fact that you’re over zealous desire to make a sale caused them to spend their time and effort on an illusion.

Remember, all investment property stands or falls on its numbers. An investor purchases income stream, and the price an investor is willing to pay for an investment property depends on the amount of that income stream. When you market a duplex or other income property and neglect those numbers, you are simply revealing yourself as one who has taken a listing and is looking for someone else to make the sale for you.

As a professional, you should care that this will negatively impact what your real estate investment colleagues think about you, and therefore should try to reverse that perception. Who knows, your efforts might open a door to future income property business you never suspected. It worked for me.

So You Know

ProAPOD® real estate agent software was specially developed so real estate agents can create rental property analysis and marketing reports easily and affordably. Learn more at www.proapod.com

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