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Top 5 Real Estate Investing Software Programs

Posted by Ken Meyer on Tue, Oct 01, 2013

financial softwareWhile many real estate professionals will state unabashedly that real estate investing is as much art as it is science, the more prudent ones will always check their “gut” or “artistic” inclinations with the hard reality of the actual numbers.

The use of dedicated real estate investing software makes this process far easier than in the past and should be considered by any real estate investors – new or old – who is contemplating a purchase. Here are five of our favorite real estate investing programs that will meet the needs of every type of investor:

RealData (http://www.realdata.com) - This investment property software is based on the Excel engine and comes in two versions, Express and Professional. For smaller portfolios with less than three properties, choose the former while the Professional version is appropriate for everything up to hotel sized properties.

REI Wise (http://www.reiwise.com) – For the more commercially minded, this software package offers powerful modeling and marketing tools as well as access to the “cloud.” These features keep you completely updated and even allow you to transact virtual transactions if you so choose.

ProAPOD (http://www.proapod.com) – This application is also built on the Excel engine and should be quite familiar to most users. It comes in several versions to suit the needs of everyone from budding entrepreneurs to serious “old hands.” It also includes an online calculator to help you with such tasks as cash flow, time value and projected ROI.

CREModel (http://www.cremodel.com) – This commercial modeling software package provides the most common metrics for the smaller investor. It’s an affordable package for those with 6-8 individual homes or 3-4 multi-family properties. You can look at ROI, IRR or just plain cash-on-cash returns.

Microsoft Excel – The most affordable program in the bunch if it already comes bundled with your PC or laptop. You do need some familiarity with the program and the financial concepts to program it efficiently. Still, if you have the time and energy necessary, you can create the ideal program to meet your every need.

The Bottom Line

Each of these programs targets a particular niche in the real estate investors market. The investor should examine his own goals and chose the appropriate one. While each has significant value to its particular demographic, the Excel program, for those with some programming ability, can ultimately be the most cost-effective.

 

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