As a real estate investor, you will want to have all available tools available to build your business and enhance your profits. One of those tools that is indispensable to any investment business is a series of good investment property calculators. These handy (and often free) calculators can mean the difference between pouring your money into a poor investment and identifying a good opportunity.
Your real estate investment business plan should identify what sort of properties you are in the market to buy and in what circumstances – however where you’re not 100% sure about a property, then an investment property calculator can help you make the decision. Remembering that real estate investment is about making astute decisions backed by solid information, not hunches or gut feelings, a calculator is simply a must have.
Where to get access to investment property calculators for free
There is no need to pay a cent to get access to investment property calculators – there are plenty of places to get access to them online such as here. If you prefer to download an investment property calculator for use at home, then these are available as well. The difference between these options for download is that some come as add ons to your favourite spreadsheet program such as Excel (such as these), and others still as stand-alone software programs.
Whatever investment calculator you decide to use for your business, be aware that it must be specific, exact and appropriate for your jurisdiction. This is especially relevant where it comes to making calculations relating to depreciation and tax benefits. And these are perhaps the most relevant to property investors, as they can sometimes mean the difference between an investment which is profitable and one that is not.
The ultimate reason for using investment property calculators is to be able to determine whether your investment property is positive cashflow or not. This might be more or less important for you depending on what sort of property investment enterprise you run – revisit your business plan to be sure.
Your real estate investment business should have ready access to information to be successful and profitable – and a decent set of investment property calculators will mean that you are armed with the necessary information for your business to make it profitable. It just does not make any sense to neglect such a simple tool which can make your real estate investment business profitable.