After gaining a few years of experience as a landlord, you’re probably wondering how to expand your rental property business. Perhaps you’ll diversify your portfolio by purchasing a multifamily property or pursuing a commercial real estate deal.
Regardless of what type of property you add to your investment strategy, the most successful landlords and property managers leverage the latest technology to build better businesses. To count yourself among their number, you need to check out…
1. REsimpli
For those looking to grow their rental property portfolio, REsimpli can’t be missed. This all-in-one software offers all the features investors need to close more sales and streamline communications with leads, including:
- Customer Relationship Management (CRM) – Whatever system you’ve been using to categorize your leads and buyers can’t compare to REsimpli’s robust CRM. In just a few clicks, landlords can manage their properties, buyers, and marketing efforts while utilizing the platform’s analysis services to better understand which areas need more attention and which are thriving.
- List Stacking – The days of leveraging only one list and hoping you’re finding real leads is in the past. Now, REsimpli empowers you to upload, organize, and stack lists at the touch of a button. Choose from multiple data sets for quick, efficient list stacking and uncover motivated sellers. REsimpli also makes it easy to send direct mail from list stacking, saving you time and stress.
- Drip Campaigns – Drip campaigns don’t have to be a drip! REsimpli automates follow ups via email, RVM, and direct mail for your leads and customers based on identity triggers and campaign durations that you set. Their in-built marketing features help you improve your conversions by marketing better.
- Cash Buyer Management – No, you’re not dreaming: REsimpli keeps all your property cash buyers in a central place! Through their platform, you can send SMS messages or emails to segmented groups, which boosts your operational efficiency and productivity. enhances operations and increases efficiency and productivity in the long run.
- Real-Time Data Analysis – What isn’t measured can’t be improved – but you don’t have to worry about that when you use REsimpli. Their platform provides real-time, actionable data that enables you to make informed decisions about your investments with less stress.
And best of all, REsimpli offers a 14-day money-back guarantee for all subscription plans – meaning you can explore their comprehensive features for yourself before committing.
Pro Tip:
Buy and hold investors, REsimpli is perfect for you! Not sure if you fall in that category?
Bigger Pockets defines buy and hold as “a residential real estate investment strategy in which an investor buys a property they plan to own over a long period—anywhere from five to 30 years. The [property] value increases over time, and the investor enjoys a stable monthly cash flow from the rental income."
2. Fundrise
Institutional investing is on the rise. The National Association of REALTORS® found that “institutional buyers comprised 13.2% of the residential sales market in 2021, up from 11.8% in 2020…. [and] median prices that institutional investors paid were about 26% lower.” So, what’s a small investor looking to crack into those lucrative deals to do?
Enter Fundrise. Starting at just $10 each, real estate investors can pool their funds together directly through the platform’s private real estate portfolios (REIT), enabling people with less capital easier access to building future wealth. And this company is dedicated to their investors in good times and hard times alike.
According to Fundrise’s website, “[they’ve] specifically built the Fundrise portfolio with the intention of being able to withstand prolonged periods of economic distress. Nothing can be guaranteed, but because of [their] conservative approach and extensive underwriting processes, [they] believe the Fundrise portfolio is, from a risk-adjusted-return standpoint, well positioned to be able to sustain a severe economic downturn.”
Fundrise also allows for:
- Lower costs: Fundrise’s proprietary software helps keep fees low, allowing investors to maximize their returns
- Smarter portfolio diversification: Investing outside of the public markets reduces risk and improves stability
- Well-rounded investment strategies: Build a resilient portfolio centered on your goals and personal appetite for risk.
3. TurboTenant
We couldn’t put together a must-have list of tech tools for landlords without putting TurboTenant on the list! Call us biased, but our software was designed by landlords, for landlords – and our first-hand knowledge of your needs shows. That’s why we offer free:
- Tenant screening: Screen your tenants for free in less than five minutes and unlock your applicant’s criminal history, eviction history, and credit reports.
- Online rent payments: Tenants can pay rent via ACH, debit card, or credit card. TurboTenant keeps you in the loop with payment notifications and reduces administrative work by offering an Autopay feature along with automatic late fees.
- Rental management: To grow your rental investment portfolio, you need to stay organized.
TurboTenant’s online document management, messaging service, and e-sign capabilities make it easier than ever to manager your properties and tenants alike.
The Bottom Line
The real estate sector continues to grow year over year, making now the perfect time to grow your portfolio. With tech tools like REsimpli, Fundrise, and TurboTenant in your back pocket, there’s nothing stopping you from achieving high returns with lower stress.
