Using Technology to Scale Your Apartment Investment Business
You’re already two months deep into 2020, and you realize that, if you don’t take drastic measures now, you may not end up fulfilling your New Year’s resolution to grow your business like never before. The question is, how exactly can you take your business to another level both quickly and effectively?
This question can be answered with a single word: technology.
Unfortunately, many real estate investors overlook the power of technology when it comes to scaling a business. And, if you’re like them, it’s likely because you simply don’t know how to enhance your business with technology.
Fortunately, I’ve put together this guide on how to scale a real estate business with ease using the latest technologies in 2020.
Use Technology Platform to Stay Organized and Operate More Efficiently
Real estate technology platforms are currently available to help you to remain organized, which is paramount for scaling a business in apartment investing. For instance, you can use these business intelligence platforms to store your significant portfolio information in one system. This information may include critical deal information, marketing collateral, space budgets, tenant updates, and lease terms.
With this type of centralized platform, everybody on your investment team can automatically access the real-time materials or information they need, rather than having to constantly send emails requesting this information. This allows your entire organization to run far more efficiently, thus saving you time in the leasing process. The more time you save, the more time you can dedicate to making more real estate deals and, therefore, scaling a business into a real estate empire more quickly.
Introduce Smart Technologies
If you’re wondering how to scale a real estate business, you may want to consider incorporating smart technologies into your apartment buildings as well.
For instance, to leverage smart technology, consider adding smart locks to your apartments, which will allow your tenants to enter their units without scrambling for their keys every time. A smart lock enables them to unlock and lock their doors remotely using a smartphone app. This means that you don’t have to deal with having to replace lost keys, for example, which gives you more time to focus on growing your business.
Scaling a business in real estate is also possible if you use smart lights and smart thermostats in your apartment complex. These technologies are very energy efficient and, thus, save you money—money that you can use for future deals to help to grow your business even more. Tenants will also love these value-add amenities.
Digitally Market Your Apartment Investment Business
When it comes to scaling a business, it is critical that you master digital marketing for real estate investors.
For one, you need to have a strong web presence. This starts with actually having your own property investment website. A website plays a key role in helping you to build leads online. Also, you may want to use Google Analytics with your website, as it will help you to comprehend how effectively your website is attracting potential clients.
Also, when it comes to digital marketing for real estate investors, be sure to develop social media profiles, which are imperative for scaling a business. After all, some real estate firms drive every single lead they receive from Facebook, for example. To make Facebook work for you as you explore how to scale a real estate business, be sure to post content as frequently as you can.
In addition, get involved in conversations in relevant groups on Facebook. You might also want to purchase targeted ads aimed at reaching your chosen demographic and geographic area. These moves involving digital marketing for real estate investors can be extremely profitable and thus help with growing your business.
Automate the Process of Raising Capital
Another smart move for scaling a business is to tap into the power of syndication. That’s because today’s money-raising platforms are intended to automate the money-raising process for both funders and fundraisers.
For instance, if you’re seeking capital, a platform can handle a variety of important tasks for you, such as bookkeeping, providing investor updates, issuing legal disclaimers, and completing payment processing. In addition, investors can easily find your campaign among many other campaigns using their smartphones. Then, they can start investing in your venture with a few simple clicks. These platforms today make scaling a business easier by enabling business owners to reach a greater number of capital partners.
Automate Property Management
If you’re wondering how to scale your business in apartment investing, you may want to consider automating your property management functions as well.
Ideally, you want to embrace automation as much as possible, while still offering the personal touchpoint that customers are looking for. For instance, it can be helpful to offer online lease applications and payment collection. You may also want to offer three-dimensional virtual tours of your apartment units or even automated notifications for tenants.
Likewise, when it comes to maintenance, you could use an app to monitor your work orders’ progress. This type of technology can also streamline check-outs and check-ins to make the maintenance process more efficient.
Start Building Your Apartment Investment Business
If you’re serious about learning how to scale a real estate business, I can help you with the process of real estate business development.
I possess extensive experience in scaling my own business after raising more than a million dollars from investors for my first multi-family property deal. I now control more than $800 million in real estate assets, and I work regularly with investors to help them to launch and scale their own real estate businesses, too.
I can teach you how to purchase apartment complexes, bring in investors, and employ digital marketing for real estate investors. My goal? To help you to build an apartment syndication business that will allow you to reach your investment and financial goals.
Alternatively, I can introduce you to excellent opportunities to engage in passive real estate investment if you’re an accredited investor.
Get in touch with me to learn more about scaling a business and how I can help you to employ the right strategies to boost your bottom line in the months and years ahead.
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Disclaimer: The views and opinions expressed in this blog post are provided for informational purposes only, and should not be construed as an offer to buy or sell any securities or to make or consider any investment or course of action.