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Making a career out of real estate investing and development is a dream job for many, and as such it’s also one of the most competitive fields!
Whether you’re just starting out or have been in the real estate investment business for a long time, you likely know how difficult it can be to find the perfect investment property.
But there is a way to get ahead of the competition – your real estate tools.
Property tools can make all the difference in your business. In this blog, we’re outlining some of the ways you can use this technology to grow your business and your revenue.
The area you’re looking at can make all the difference in the search for the perfect investment property. Some cities, like Toronto and Vancouver, are more expensive to purchase real estate in and may be more competitive. You might want to turn your attention to less competitive areas or up-and-coming neighbourhoods. This is where your property tools come in…
While you may want to expand your property horizons, it can take a lot of time and resources to research these areas, particularly if you don’t live there. But with property tools, most of that research can be done online.
For instance, you can use the Teranet-National Bank House Price Index to look into home price trends across the country and at a local level. You can use the Teranet Market Insights Report to identify Canadian housing market trends.
From there, you can use your GeoWarehouse reports to look at neighbourhoods in closer detail, such as accessing the Demographics Reports to find out age distribution, marital status of residents, structural types of housing, owned/rented properties, average household income and much more.
Once you’ve identified the area you want to invest in, or if you have chosen a more competitive city, like Toronto, you might want to find properties before they hit the market. Property tools can help here, too!
You can use the GeoWarehouse Property Details Report to discover MPAC assessment data, property ownership information, sales history data, images of the property, and more for multiple listings.
The Property Details Report and Demographics Reports can also help you find out more about the people who currently live in an area where you want to invest and help you with making an offer.
For instance, you may look for a demographic age range to find neighbourhoods with long-term homeowners who may be looking to downsize.
You can also use your property reports to investigate adjacent properties.
Know what a property is worth, or whether it’s a good investment, quickly with an automated valuation.
Your automated valuation will give you an estimated property value based on the subject property and data, such as location, property types, related sales comps, and more.
It will also reveal an estimated range of what the property is worth and from there you can determine what you are prepared to offer.
When you are ready to make an offer, you want to ensure that the deal will actually go through. With GeoWarehouse property reports, you can verify the legal homeowners, view registered mortgages, uncover any liens or encumbrances, and more.
With this real estate investment technology, you’ll be setting yourself up for success from start to finish.
Want more insights into real estate investing and development? We’ve created two free eBooks that can help!
Download your copies today!
Access property tools that make finding the perfect investment property easier than ever. Become a GeoWarehouse subscriber. Call 1-866-237-5937 or visit www.geowarehouse.ca.