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How Better Tech Makes Being a Real Estate Investor Easier Than Ever

Thanks to modern technology, that’s already starting to change. Better tech is making real estate investing easier than ever – and you, too, might be able to take advantage of that.

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How Better Tech Makes Being a Real Estate Investor Easier Than Ever

Millions of people like the idea of investing in real estate. With a good rental property, you can generate a consistent monthly profit. If you buy a property in a growing area, you might multiply your wealth a few times over if you hold that property for long enough. And if you have the knowledge and skills necessary to flip properties, you might position yourself to make sizable profits with properly timed transactions.

Unfortunately, being a real estate investor is typically challenging. Most people don’t have the motivation, resources, or past expertise to pursue this method of wealth accumulation.

Thanks to modern technology, that’s already starting to change. Better tech is making real estate investing easier than ever – and you, too, might be able to take advantage of that.

1. Property Management Companies

If you’re willing to hire a company like Green Residential, a Houston property management company, you can take out most of the manual effort and guesswork required of real estate investors. Your dedicated property managers can help you choose the right properties to add to your portfolio, screen tenants, market your property, conduct maintenance and repairs, collect rent, and even handle evictions when necessary. In exchange, you’ll only have to pay them a recurring management fee, based on your gross monthly income.

There are still some challenges to face as a real estate investor, even with an excellent property management company at your side. For example, you’ll still need to generate enough capital to make a down payment on your first property, and the final decisions are still going to be yours to make.

Still, modern property management companies with access to better management and communications technology can take most of the effort out of this process.

2. Tech and Real Estate Investing

There are many types of technology that assist real estate investors, such as:

Listing platforms. Online listing platforms make it easy to list your existing properties for sale or find other properties for sale worth exploring. Oftentimes, these platforms are inexpensive or free, though they are highly competitive. With a quick search, you can generate a list of dozens of properties worth buying in your area, and you can quickly narrow them down based on their listing price, square footage, amenities, and other features. If you know what type of property you’re looking for, you can generate a list of potential investment candidates in just a few minutes.

New Tech Makes It Easy to Be a Real Estate Investor

Virtual tours. Virtual home tours aren’t perfect, but they do have enormous potential. Thanks to 3D mapping and VR technology, you can explore the interior of select properties in full, even if you’re living all the way across the world. If your schedule is so busy that touring properties is inconvenient, or if you’re interested in investing in properties remotely, this is a huge advantage.

Social media. Social media isn’t exactly new, but it has radically transformed the world of property investing. You can advertise properties for sale, list properties for rent, and engage with other real estate investors and market experts on a regular basis here.

Property management software. Property management software makes your life much easier as a landlord, giving you access to automatic notifications, rent collection features, documentation and organization features, and much, much more.

Ultimately, these platforms provide you with:

More options. You’re no longer limited to a narrow range of properties generated for your perusal by a real estate agent. You can view and remotely tour properties all over the world, based on any specifications you choose.

Remote viewings and management. You can at least begin your property search with remote viewings and management. This is highly beneficial for people interested in diversifying their real estate portfolios with holdings in many different areas.

Due diligence. Before you commit to any property purchase, you need to do your due diligence. But that’s much easier to do with access to social media and various real estate resources across the web.

Marketing and advertising. In the span of an afternoon, you can put your property in front of thousands of people, just by listing it on major platforms and promoting it on social media. Effective marketing does require some consideration and deliberate practice, but technology helps considerably.

Networking and connections. Through social media, you can discover and engage with countless prospective partners and advisors in real estate.

Communication. Through real estate management platforms and other tools, you can streamline communication – and face far fewer conflicts.

Automation. It’s hard to overstate the value of automation in any productive operation. With automated reminders for rent collection, maintenance items, and even taxes, your life as a landlord will become much easier.

Documentation and organization. Keeping all your paperwork and records organized is half the battle. But with modern technology, your records can be kept digitally and meticulously.

Knowledge, experience, and mentorship. Engaging on social media and working with other moguls through technology gives you access to more knowledge, experience, and even mentorship in some cases. If you’re just beginning your journey as a real estate investor, this is invaluable.

As technology grows more advanced, even more people are going to get access to real estate investing opportunities. As long as you’re willing to continue doing your due diligence and work with genuine experts, you have a good chance of being successful in this market.

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Lifestyle

How Can You Heat Your House More Efficiently?

So what steps can you take to heat your house more efficiently? Get peripheral or secondary sources of heat. Invest in a smart thermostat.

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How Can You Heat Your House More Efficiently

When fall and winter finally roll around, homeowners everywhere start thinking about heating and the state of their utility bills. Nobody wants to shiver in the cold during winter, but at the same time, they also don’t want to pay exorbitantly high electricity or natural gas bills.

So what steps can you take to heat your house more efficiently?

1. Get Peripheral/Secondary Sources of Heat

First, consider getting peripheral and secondary sources of heat. This is especially important if you have a large house. Your central heating unit should be capable of providing adequate heat to your entire home, and somewhat efficiently, but this might be a waste of energy if you’re not using your entire home.

For example, with a propane heater, a fireplace, or an electric space heater, you’ll be able to heat individual rooms, like a living room, bedroom, or office, without necessarily having to heat the entire interior of your house. This can dramatically reduce your energy consumption, while simultaneously allowing you to stay warmer in the rooms that matter most.

Even if you decide to heat your entire house to a certain point, you can concentrate extra warmth into the places that truly need it this way.

2. Invest in a Smart Thermostat

You should also consider investing in a smart thermostat. This marvelous piece of technology allows you to remotely control the temperature of your house and even set an automatic schedule for how your house is heated. This way, you can automatically turn down the heat when you go to work, turn the heater on when you’re away, and have the house come up to temperature just as you arrive. With tighter controls, you can make sure the house is warm enough to stay comfortable whenever you’re home while reducing your total energy expenditures.

Additionally, many smart thermostats have built-in features to allow you to monitor and observe your own heating activity. If you notice any aberrant patterns or if you’re using more energy than you expected, you can investigate and make corrections.

3. Upgrade Your Insulation

If your insulation is subpar, the efficiency of your heating is going to plummet. Homes lose heat in a variety of ways, including through the walls. The job of insulation is to create a thick barrier that prevents heat from being lost too rapidly. Nobody likes the idea of tearing down all their walls and re-insulating, but you may not have to do this. Instead, you can use blown insulation to greatly increase the insulative potential of your home without having to spend a lot of time or money on the project.

If you’re not sure about the quality of your insulation, hold your hand to a few different walls during a cold winter day. Do any of them feel frightfully cold? This is usually an indication of poor insulation.

Tips for Heating Your Home More Efficiently

4. Replace Old Windows

Another heating efficiency problem many people face is old windows. If your windows are decades old, they probably aren’t sealed properly anymore, they’re probably single-paned, and they’re probably a major source of heat loss. Upgrading your windows is a significant expenditure, but it’s a home improvement project that comes with a considerably high return on investment (ROI).

After upgrading your windows, you should see much lower energy bills and you’ll actively increase the value of your house. There are also some added bonuses, such as making your windows much easier to open and shut.

5. Take Care of Your Furnace

Take good care of your furnace so it continues operating efficiently. At minimum, you should swap out your air filter at least twice a year, and more frequently in some cases. You should also have your furnace inspected and cleaned out on an annual basis. If your furnace no longer runs efficiently, or if you suspect a problem with it, hire a professional to make repairs or replace the unit entirely.

6. Find and Seal Drafts

Any crack or hole in your house, even a tiny one, could increase your utility bills by causing inordinate heat loss. Accordingly, you should spend some time finding and sealing those drafts. These are especially common in windows and doors.

7. Reverse Your Ceiling Fans

Many people don’t understand this, but ceiling fan directions can be reversed. If you reverse your ceiling fans, you’ll redistribute air throughout your house, ultimately allowing it to be heated more efficiently. It’s counterintuitive to turn your ceiling fans on during the winter, but as long as the direction is reversed, you’ll actively benefit from it.

If your heating bills are higher than you’d like even after making all these changes, you can consider dressing in more layers and knocking down the temperature a few degrees. But for the most part, these strategies should allow you to stay nice and toasty during even the coldest winters without breaking the bank.

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