Finding investment properties is an important part of the real estate business. Unfortunately, it can be a difficult process without the proper tools. Instead of recommending multiple tools, particularly those necessary for a real estate market analysis and an investment property search, we’re here to suggest just one tool: an online property search tool. What is an online property search tool and why should you use one? Keep reading to find out!
Related: The Fastest Way to Find Investment Properties for Sale
What Is an Online Property Search Tool?
For starters, what is an online property search tool? Sometimes referred to as a rental property finder, an online property search tool allows experienced and beginner real estate investors to easily find investment properties. You may think of it as an online property search engine or a ‘Google for investment properties for sale’.
As part of its real estate investment software, Mashvisor provides the best online property search tool in 2020.
How Does Mashvisor’s Online Property Search Tool Find Properties?
So, how does Mashvisor’s property search tool find rentals exactly? While this topic can be a blog of its own, the short answer is Mashvisor’s real estate analytics. Mashvisor’s analytics include traditional and predictive analytics, allowing for the most accurate results for a real estate property search. These two types of analytics provide an outline of real estate trends on the level of both rental markets and rental properties.
If you’re interested in learning more about Mashvisor’s real estate analytics, click here!
What Does Mashvisor’s Online Property Search Tool Help Investors Do?
Mashvisor’s search tool is the best because of the data and information it offers. It goes beyond just displaying real estate listings in the market for a user. These are the 4 things you can do with Mashvisor’s online property search tool:
Compare Investment Properties Across Locations
If you’re a beginner real estate investor, you’ve probably heard that the three most important things in real estate investing are location, location, and location. When deciding on an investment property, investors need to compare properties from several cities. Maybe you live in Ohio, but want to see what cities in the Florida real estate market have to offer. Of course, the US housing market is vast and diverse. It might sound tedious to start comparing investment properties from different areas. Fortunately, Mashvisor’s property search tool makes this quick and easy. The tool allows investors to search in up to 5 cities simultaneously. Real estate investors can then compare the top-performing and most profitable investment properties in the desired areas to find their ideal property.
Find Investment Properties Using Specific Filters
When it comes to finding investment properties that will generate income, location is not the only criteria you need to think about. That’s why a real estate investor can use the property search tool’s filters to further narrow down the list of investment properties.
There are various filters Mashvisor’s tool provides:
- Location (as mentioned previously)
- Rental strategy
- Number of bedrooms
- Number of bathrooms
- Type of real estate properties (single family, multi family, condo/coop, other)
Since the tool is interactive, real estate investors are free to adjust any filters they desire. As a result, the tool shows investors the top-performing investment properties in the location/s based on the selected filters.
Related: Finding a Rental Property Using Search Tools and Filters
Estimate Return on Investment
The most profitable investment properties have a high return on investment or ROI. Mashvisor’s online property search tool understands this, and thus it provides accurate estimates of cash on cash returns for every listing. The property search tool uses Mashvisor’s consistently up-to-date real estate analytics, ensuring that investors don’t have to manually calculate ROI metrics. They get all of the information on the property card.
Determine Optimal Rental Strategy
Choosing between a traditional, long-term rental strategy and a short-term, Airbnb rental strategy is no easy task. Generally, in areas with strong economies, long-term development, and a good school district, traditional rental properties are the way to go. On the other side of the coin, Airbnb vacation homes are most successful in areas with many tourist and vacation attractions and events. However, to be able to choose the best rental strategy, one should base the decision on real estate return on investment data.
Related: Rental Strategy 101: A Beginner Investor’s Guide
The online property search tool analyzes rental markets and rental properties in order to provide you with a traditional ROI and an Airbnb ROI for every investment property listing. With one look, you can tell which rental strategy is best for which property by comparing the cash on cash return metric.
If you want to take it a step further and compare the rental income and cap rates as well as take a look at the Airbnb occupancy rates, you can click the property card. You’ll be taken to Mashvisor’s Property Analysis Page where the investment calculator will further help you choose the optimal rental strategy.
Speaking of Mashvisor’s Investment Calculator
Remember how we said that the online property search tool goes beyond just displaying listings? That’s because it’s backed by the all-powerful investment property calculator. Once you find a promising property using the rental property finder, you can further analyze it in the following ways using the calculator:
Estimate Rental Income and Rental Expenses
Mashvisor’s Airbnb calculator estimates a property’s potential profitability to help you find the most profitable investment properties. One of the ways it does so is by projecting a property’s cash flow using rental income and rental expense estimates.
Rental income estimates are provided by Mashvisor’s analytics and rental comps. Mashvisor’s rental expense estimates are interactive, allowing real estate investors to enter in values based on the investor’s expectations and needs. These features include the financing method, mortgage payments, rental management costs, property insurance, utility fees, and more.
Get an Investment Evaluation Score
For every potential investment property for sale, Mashvisor’s calculator grades it with an investment evaluation score. The score is based on both Mashvisor’s quantitative and qualitative data. The score is expressed as a percentage and its details are available to the real estate investor as a report analyzing ROI, income, occupancy rates, and much more. The higher the investment evaluation score, the better the potential investment property.
The Bottom Line
All in all, Mashvisor’s online property search tool is the best in 2020 and beyond. Due to its reliable and constantly updated real estate analytics and the multitude of functions it provides when finding investment properties, Mashvisor’s tool is the best of the best. Want to start a 14-day FREE trial with Mashvisor’s search tool? Click here to do so!