Posted 15 days ago

Develop Real Estate Business Automation to Grow Your Investment Portfo

Automation is the key to growth for real estate investment businesses. The fact is you simply cannot do everything manually and experience the growth you desire for your business. Over the years, I’ve watched as some real estate investors flourish while others flounder. One key difference is their approach to automation.

When you build a solid business automation system, deals come in automatically and you aren’t stuck digging through your network trying to find the next investment. Instead, your job becomes identifying the best investment from the many options coming your way.

Build a Business Automation System to Avoid Burnout

Without the right tools in place to help you manage your real estate investing business, you risk burnout. Or worse, you can’t build an income to sustain your desired lifestyle. In this case, real estate investing becomes a hobby instead of a real business.

Every day, new tools, software and apps launch with the promise to make things easier and more successful for the real estate investor. However, there is no magic tool for real estate investing. The truth is the system only really works well with a mixture of basic tools and strategies. You must have a combination of software and human interaction and instinct.

The three main strategies for real estate investment:

  • Wholesaling
  • Fix and Flip
  • Buy and Hold

All three strategies benefit and thrive with the right business automation and investor knowledge in place.

Three Areas to Incorporate Real Estate Automation

1 – Acquisition

Acquisition simply refers to the phase of real estate investing where you acquire a property. Use the right automated systems and proven marketing strategies to create an incoming lead funnel. The lead funnel identifies potential properties to purchase from sources that come to you through the funnel.

The acquisition process can be highly automated and exponentially grown with the right tools. However, human interaction still plays a vital role. As a real estate investor, your knowledge helps execute the delicate balance of how to approach the sellers. Also, this personal touch aids in negotiations and closing the deal in a fair way that is also beneficial to your business.

2 – Disposition

Disposition is the procedure for selling properties. As a real estate investor, it’s crucial to understand and master the processes for both buying and selling. To automate the disposition process, you need a solid buyers list with qualified leads.

Automation creates a way to regularly communicate with your buyers list. However, effective communication and nurturing of the buyers through the sales process requires human interaction. This personal touch builds a relationship and trust with the buyer. This connection helps to ensure the closing of the deal.

For wholesaling, with its quick turnaround time, automation of the disposition process becomes even more important. Find the balance between automation and personal connection to create the best system for your business.

3 - Transaction Management

Once a deal is under contract, the detailed steps to close the deal then follow. This is where things can fall apart if not well managed. The contract dictates the required deadlines and paperwork for the deal to close.

An automated transaction management system prevents errors and missteps. This takes the guesswork and human error out of the closing timeframe. Instead, the automated system provides reminders and a checklist to complete each step in the right way and on time. This is vital to run a smooth and reliable real estate investing business.

Especially if you are managing multiple deals at once, a smooth transaction process keeps you organized. It’s worth the financial investment in the automated system to protect both your reputation and your deals.

Other Real Estate Investing Automation Tools

After the process of buying and selling comes managing your properties and processes. Incorporate project management and property management automated tools to improve your workflow and decrease your daily responsibilities.

Like with transaction management, these tools help to prevent errors. Automating property management steps, like rent collection on buy and hold properties, helps improve cashflow and financial management.

Benefits of Automation for Real Estate Investing

Not only does automation make your business run smoother, but it opens the door to other opportunities. The right tools allow your business to grow exponentially. When you aren’t doing each step or task by hand, your bandwidth expands. This means your real estate portfolio expands, too. The sky becomes the limit with an automated system.

Virtual real estate investing also becomes an option through automation. You can live, work or travel anywhere while managing your real estate investment business. Automation offers freedom.

Start today by incorporating automated tools into your real estate investing business. Remember to keep the personal touch which protects your reputation, builds a brand image and creates trusted partnerships for your business.