Real Estate Software

Written by Jeremy Horelick
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Since the rise of the Internet in the mid-90s, the market has seen an explosion in various kinds of real estate software. From financial reports to growth projections, these programs are meant to give real estate investors the tools they need to organize their portfolios, manage their properties, as well as buy and sell. If that sounds like an awful lot to ask of one simple program, bear in mind that these features are entirely worthless without a human brain to operate them.

No matter how great your mortgage calculators and operating expense sheets may be, without an interest in and aptitude for real estate investing, you'll find little success. Great business people are able to make the most of their real estate software (and all their tools) by bringing to the table a genuine passion for the work, be it dealing with the abundant personalities or the cold hard numbers (and ideally both). If you've already got those bases covered, a good program can undoubtedly give you an advantage.

What Can I Expect from My Real Estate Software?

If you splurge for a deluxe version of any of the programs currently out, there are a few basic bells and whistles you should seek. Go beyond the mere spreadsheet (which any Windows-based machine can give you) and find a computational device that gives you 10-, 20-, and 30-year projections, equity tracking, loan amortization figures, and expenses. Any run-of-the-mill program should offer some version of these features. Better systems will give you even more.

You may, for example, purchase real estate software that works in conjunction with a lead-generator to help you get first looks at properties outside your area. Many of these use central servers that crunch data on thousands of listings across the country or even the world. Remember, while a given area is booming, the best investors already have their eyes on the next market lying in the shadows. Be sure to invest in software that can help spot demographic trends and even make recommendations about future markets.

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