8 Apps That Transformed How I Analysed, Evaluated and Managed My Real Estate Investments

emhaze222 (60)in #realestate • 5 years ago (edited)

With more and more apps and software being launched every month, it can be difficult to figure out what is the most helpful and beneficial to you. All claim to offer ways to help improve the way to manage your investments.

I have compiled a list of all the websites and apps that I use to either manage my property portfolio or stack potential investments.

National Landlord Association

Becoming a member of the NLA (National Landlord Association) is vital for any landlord. Especially those who choose to self manage their properties. They offer courses (which you will receive a discount for if you are a member), countless forms, documents and guides for when you are setting up, managing and even ending your tenancy. You will receive regular emails with updated legislation, discounted rates and cashback from the ‘NLA Services’ including NLA Mortgages, NLA Tenant Checks, NLA Rent Protect and NLA Property Insurance (and many more) along with FREE unlimited access to their telephone helpline.

You can even become an accredited landlord via their system.

Check out their website for more information.
https://landlords.org.uk/

Landlord Vision

Landlord Vision is an all in one cloud based software that helps you manage your finances, your tasks and your landlord responsibilities.Landlord Vision

Finding an efficient way of managing your property investments can be very frustrating to say the least. You can feel you are being bogged down with paperwork and have no suitable place to put it, especially if you have more than one property. You can set weekly, monthly or annual reminders so you don’t end up missing anything important. You can arrange inspections, deal with maintenance issues and those important safety assessments. You can have each supplier information saved so when something needs repairing or replacing you just simply log onto your account and find the relevant supplier.

Landlord Vision actually an NLA branded service, so you can be rest assured they have been validated from a third party.

Check out their website for more information. Full NLA members receive 6 months FREE with a 15% discount thereafter. **

Download from the app store: https://apps.apple.com/gb/app/landlord-vision/id1069864879

Stamp Duty Calculator

Sick of struggling to figure out how much SDLT (Stamp Duty Land Tax) you have to pay when buying a property? Look no further than StampDutyCalculator.

For properties over £40,000 – £125,000 you are required to pay 3% SDLT
For properties over £125,001 – £250,000 you are required to pay 5% SDLT
For properties over £250,001 – £925,000 you are required to pay 8% SDLT
For properties over £925,001 – £1.5m you are required to pay 13% SDLT
For properties over £1.5m you are required to pay 15% SDLT

I have this bookmarked under my property stacking list. Without taking into account the amount of stamp duty you have to pay for the property could decide on whether an investment is a goer or not.

https://www.stampdutycalculator.org.uk/

Checkatrade

We’ve all seen the checkatrade advert on TV. They’re great for anyone, not just landlords.
They have over 30,000 suppliers that are recommended, monitored and vetted.

What I love about CheckATrade is that you can post your job and the suppliers come to you. You don’t have to spend hours trawling through the phone book ringing down different companies hoping to find a good one. On CheckATrade you can read reviews from previous customers before you even respond to their proposal.

https://www.checkatrade.com/

Protect Your Bricks

Protect Your Bricks is a landlord insurance comparison website. They search the WHOLE market for insurance that matches your requirements. I’m sure I have paid too much insurance in the past due to only being offered providers on my brokers small list of suppliers.

https://www.protectyourbricks.com/

UK Crime Stats

UK Crime Stats are the leading crime and postcode data research and analysis platform.
Before you purchase a property you need to know what kind of area you are investing in. Location is key and you make or break your rental income for the property.

You simply enter a postcode and you will be shown all the different crimes that have been reported in current and previous years (and months). If the property is in a high crime area then it is probably the best idea to walk away, as you may get a high turnover in tenants as a result. High turnover in tenants also HUGELY affects our bottom line. Having an empty property and searching for new tenants can wipe out your profit for the whole year.

https://www.ukcrimestats.com/

Google Drive

Ok, this was more of a last minute addition to this article and is directed at new landlords with only 1 property and is completely FREE. You don’t need to invest in fancy software if you only have one property. That’s overkill.

I use Google Drive for everything, personally and professionally. This article was created in Google Drive. I manage my budget and investments in Google Drive and I even upload personal photos from my phone.
If you are new to the whole property investment world. Storing documents, setting daily, weekly, monthly and annual reminders and record keeping can be done on the Google Drive.

You can upload and download files.
Set reminders in Google Calendar
Create spreadsheets
Upload photos
Open and edit documents (if you don’t have microsoft word)
Send and receive emails

https://www.google.com/drive/

BBC Mortgage Calculator

Another helpful website to go on when stacking your properties is the BBC Mortgage Calculator. This is probably 99% accurate. I suggest using this website because it gives you a rough idea of what you are working towards without constantly speaking to your mortgage advisor.

You can do the basics at home then if the property doesn’t stack up with the basics, then it’s more than likely a no go on the investment front. You simply enter the mortgage amount, the number of years you will take the mortgage over and the rough interest you will be getting.

It provides a breakdown on the monthly repayment (which also includes interest) and also interest only amounts, which is perfect for buy to let investors. It also offers a caution as to what the mortgage would be if interest rates were inflated to 12%.

Check out the BBC Mortgage Calculator website:
http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

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