Today we released real estate deal management feature in Reiance. A deal represents a transaction for a property or properties such as sale and purchase. You can specify what stage in your pipeline is in. You can also specify value of the deal (ie sales price). With this feature, you can better manage your deal flow/pipeline.
Here is a recent example of how I saved time on a wholesale deal on a commercial real estate property using Reiance. I was able to quickly look up information on a property that I had previously evaluated in the system. It helped me remember the details of the property and pass on it quickly again instead of wasting my time.
In our real estate investment business, we often visit properties in new markets. Over the years, we have improved these market visits with help of a real estate deal management tool called Reiance. Utilizing the software and some pre-planning, our site visits have become very productive. Not only do we collect the pertinent information on the property, every visit now builds our market intelligence.
I am a stickler for recording information on real estate deals, even if I have no interest. Why? Answer is simple. It saves time. A little time I spend taking notes will pay off in the future. I will share how using Reiance has been saving me precious time.
It is vital for a serious real estate investor (or real estate broker) to stay on top of the deal pipeline. We have developed Reiance to help ourselves to keep track of our real estate deal pipeline. We now use it to handle our deal flow and it has been tremendously helpful. In fact, we have just closed on a deal a couple of weeks ago. I want to share why we built Reiance and how we use it.
At its simplest due diligence is the investigation of something (real estate, a business, a person, or any other thing of importance) prior to committing yourself to it or them contractually. A search on Google for due diligence yields thousands of articles and definitions, so the challenge in writing about the subject is to add something which may not be as apparent from just reading about what the term means.
Reiance is a cloud-based real estate software for managing property and contact information. It is a leading real estate CRM and real estate deal management system designed specifically for investors and professionals. Whether you are commercial real estate investor, residential investor, agent, or broker, Reiance will help you become organized, focused, and successful.