As a real estate investor, your smartphone is the key to your bottom line. It lets you respond to emails and calls quickly when someone wants to buy a home or when someone sees a rental listing. That phone keeps you connected to people who have properties for sale and allows you to view foreclosure and short sale listings to find bargain properties. You'll also find that you can download some handy apps that make your life a little easier. Before you use Driving for Dollars to find real estate investments, check out the top benefits that it has for you and your team.
No More Wasted Time
Working with a real estate team is a great way to cover more ground. Each member can hit a different part of a neighborhood or community and bring back reports at the end of the day or week. A problem that you might run into is that your team frequently hits some of the same streets and blocks. When you use Driving for Dollars to find real estate investments, each member gets a map that shows where they went. It updates in real-time to make sure that everyone sees where the other investors went to ensure that they don't follow the same path.
This app has a handy feature called Deal Finders. It comes in handy if you pay people on your team based on the properties that they find. The feature updates the app daily to show you what properties a specific person found and added to the app as well as how long it took and the total number of miles they drove. You'll also see when they completed an assigned route. The app ensures that the people on your team do the work that you want and that they deserve their payment.
As a real estate investor, nothing is worse than missing out on a new deal on the market. Using this app to keep track of neighborhood and geographic information might worry you because you want to go back over those areas to look for new deals. You shouldn't worry though as the app has an option to refresh your routes. With this feature, you can tell the app how often you want to return to certain areas or routes. It uses red, yellow and green to alert you when it's time to take a drive by again.
The Internal Revenue Service lets you deduct business expenses, including the mileage that you put on work vehicles. According to DealMachine, using driving for dollars to find real estate investments helps you easily keep track of that mileage through spreadsheets. Not only can you export the routes that you and other team members drove, but you can see the exact mileage too. That allows you to take a tax deduction and get money back at the end of the year for each mile that you drove. With all the benefits of this app, anyone interested in entering the real estate market has an easy way to track their data.