California’s Real Estate Investors: Turning Tech Into Higher Rents and Faster Offers

Whether you know it or not, if you are striving to flip or remodel a property the wider culture around you is having a drastic effect on your work. The so called “millennial generation” (those born between the 80’s and early 2000’s), are driving the tech-centered evolution of business. Want proof? Read the following statistics from U.S. News:

  • Over ½ of millennials will use their mobile devices to search for homes to buy.
  • A ¼ of millennials will end up buying based off their mobile search efforts.

Needless to say, you need to stay atop this technological wave overtaking real estate marketing.

With an ever fluctuating real estate market, and often complex, tight schedules for remodels, a modern day businessperson cannot ignore the new avenues of change. Using your equity-based loan from your leading California hard money lender to enhance not just the technology in the house, but the technology used to market it can keep you ahead of the curve and appealing to a new generation of clientele. Here are several keys to increasing efficiency, networking, and buyer appeal.

The Updated Home

Most experienced real estate professionals will tell you: every buyer is different. However, there are always foundational things that make a home more appealing. A remodel, updated landscaping, and the correct price range—these are time-tested aspects of preparing a home to sell. The highest paying buyers aren’t biting on just any decent house. They want one that stands out.

Maybe you’ve looked into energy efficient lighting options, or even solar panels to cut (or at least offset) power costs, but there is much more out there than you may know about. Depending on the money you’re looking to put into a house, you might consider some of these pricier, house-candy options to catch a buyer’s interest.

  • High Tech Thermostat
    • After a few days’ time learning the household’s needs, the thermostat auto-programs itself to save energy and therefore money, by turning off when you’re gone. It can also adjust the home’s heating processes based on the type of heating system in service. It connects to mobile tech, like smartphones, too.
  • Smart Appliances
    • Refrigerator, dishwasher, washer and dryer. You name it, tech savvy companies are creating devices to save energy, save money, and all the while do more for households. Bonus: Control them remotely with mobile technologies.
  • Green plug power adapters
    • With half of US homes containing 1 or more smartphones, along with other devices that require charging, the energy devoted to powering mobiles is not insignificant. Plug adapters can now stop the energy flow to fully charged devices, limiting the excess drain on household power bills.

Advancing Communication Between Parties

For a flipper, or remodel-to-rent businessperson, balancing work life with home life requires just that—a balancing act. Taking on a remodel means taking in a host of new business associates: contractors visiting the site to make estimates, workers requiring rescheduling, inspectors calling to set up appointments, and banks needing papers signed. Thankfully, in today’s technology-saturated business world, people like you are gaining access to a plethora of effective tools with which to handle the chaos.

If you’re searching for a construction company, chances are they have a website—at the very least. Finding the company’s contact information, pricing, and other relevant information requires little more than a simple online search. Additionally, because of the continued rise of online portals for services, you’ll also likely be able to compare companies through the reviews and ratings on all these sites.

Social media sites like Facebook and LinkedIn also have a variety of groups available by which to increase your network exponentially. Meeting new contacts comes naturally for a flipper seeking opportunities to cut costs and build lasting, effective partnerships. The advent of the social network age makes finding and honing new business relationships as easy as literally clicking a button.

Great Online Resources:

The online networking trend has produced specialized sites for flipper related industries like construction or design. These are also great assets for everyone in the business:

  • Design and Construction Network
    • “We connect with others in the local industry, we discuss through posted questions, we share information, we help each other succeed, and we host networking events.”
  • UBuildNet
    • “UBuildNet is a business to business dashboard for networking, communicating, and improving project performance. A single source cloud based platform designed specifically for the construction industry!”
  • Construction Industry Networking Group
    • MeetUp.com hosts this group, “cultivating an environment of construction business leaders to facilitate networking,  speakers, panel discussions, tradeshows, conferences and volunteer opportunities based on the construction industry.”

Expanding your network is imperative for any growing business, and the previous groups offer cohorts for just that purpose. The possible opportunities are as endless as the internet itself. All you have to do is look!

Holding to What Matters

The technology bloom is not going to stop producing incredible advancements to the real estate industry. However, not all new websites or gadgets will be worth the time or money, so choose wisely.

If you’re looking for quality services to fit an upcoming project, remember that your success is determined by your start. So make sure you begin well by making a lending choice with years of experience and professional, trustworthy practices.

Socotra Capital is California’s premier equity-based lender to small and large real estate investors alike. Traditional banks go by credit and can cost investors opportunities which require immediate cash. Socotra makes much faster decisions based on the quality of the project and the equity in the project, rather than depending on a lengthy credit approval. This quick cash makes many projects possible that would be impossible without such specialized lending. Contact us today to find out more!

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