It takes time, research, and money to become a savvy real estate investor. While most people have the time and the research skills, many do not have adequate funding. With some education and help from nifty fintech apps, becoming a real estate entrepreneur is easier than it seems. Using a resourceful money management tool helps individuals save money for future investing opportunities.
After all, real estate, specifically, crowdfunded real estate, provides one of the most reliable and lucrative sources of income. Consider the following information regarding fintech apps and crowdfunding.
Crowdfunding Real Estate Opportunities
Crowdfunding is a method for securing the necessary financial means to purchase a property. Instead of visiting a bank, lender, or some other traditional source, real estate investors post a property onto a crowdfunding platform to attract people to make small investments in the estate. Investors choose properties based on parameters like market value, location, and ultimately, the amount of return from the fund.
Before crowdfunding, the typical way of investing in real estate was to either purchase your own properties or submit large sums of money toward the developments of someone else’s venture. Now, crowdfunding opens the door for many more individuals to participate in investing. What’s more, many crowdfunding (marketplace lending, peer-to-peer lending) sites only ask for small amounts (around $1,000) as the minimum investment.
Crowdfunding not only applies to real estate. Other marketplace lending avenues offer investors the opportunity to fund things like perfintechsonal loans and movies.
Fintech Apps to Help You Save Money
It’s one thing to understand the reliable, lucrative opportunity involved with crowdfunding, but it’s another to be able to invest in it. Fintech apps provide entrepreneurs the roadmap to financial freedom. Many programs sync with banking and credit card accounts to better track expenses. The first step to benefiting from these apps is to create an individual financial plan complete with goals and budgets.
List all assets: equity, property, retirement accounts, investment accounts, stocks, bonds, cash on hand, and bank balances. Then, list all liabilities: credit card balances, auto loans, personal loans, medical bills, and student loans. Be sure and develop short, intermediate, and long-term goals aimed at reducing debt and increasing net worth.
Furthermore, allocate additional money to set aside each month for future crowdfunding opportunities. Take a look at the following fintech apps for help achieving these goals.
- Fully automated, FREE, planning software
- Syncs with most banks, credit card, and investment accounts
- Provides a simple user interface
- Provides all accounts in a single platform
- Allows users to establish budgets and goals
- Monitors incoming and outgoing funds
- Studies spending habits and provides financial advice
- Notifies users of upcoming bills
- Online and mobile platforms available
- Offers features to pay bills
- Free for the first month, then $50 per year afterward
- Allows users to link bank accounts
- Excellent at creating budgets and keeping users on track
- Provides many educational, financial classes with live teachers
- Allows users to interact with other users
- Monitors spending
- Groups expenses into designated categories
- Online and mobile platforms available
- Perfect for separating business and personal finances
- Allows users to link bank, credit card, and investing accounts
- Monitors interest on loans
- Tracks spending and income
- Allows users to create goals and budgets
- Hundreds of customizations
- Smart mobile app that tracks miles and payments
- Several suites available priced between $40 and $120
- Keeps track of tax deductions
- Data integrates with TurboTax
- Allows users to pay bills and set reminders
