Using Technology – 30th March 2020
Nick Menz – National Acquisitions Director of ASPIRE Property Advisor Network discuss how technology keeps us connected and managing our investments in property.
– So during these times of working in reduced office environments or working from home, we can use a lot of technology to make our lives easier and to keep the wheels turning. So first off is video conferencing. Things like Skype or Zoom. I use Zoom quite a lot, it allows you to have face to face meetings from the comfort of your own home. Funny enough, Zoom shares have gone up over 40% in the last month due to the spike in demand. Second thing we do is we have all property contracts signed by DocuSign, which basically means you’re signing from your Smartphone or your iPad or your computer, rather than a pen and paper system. So DocuSign has the added security benefit of tracking your IP for all signatures. Now, we can do verification of identity checks online as well, which removes the need to go into the post office, or go and seeing JVs. Most tenancy agreements are now being signed online or via DocuSign or a similar type program. Which removes the need for that face to face interaction. Now, if you’re looking to expand on your portfolio, then you could work with your advisor, they can give you access to the Aspire Property Portal, where you can see all of the information relating to builders, developers, what’s happening with the property in the area, in the suburb. And once you have engaged on one of the properties, our customer service team will track that purchase right the way through to tenants going into the property. So it’s all done online. You don’t have to get involved in a face to face basis there but you can login and you can see what’s happening at any time. Work with your advisor, you can work through investment analysis software with them, which allows you to track the cashflow of the property. It allows you to add a few variables. It allows you to stress test the property. What happens if interest rates change. What happens if your day to day income changes. So it allows that stress testing for those breaks and anomalies in your lifestyle. So this can all be done from the comfort of your own home. So make sure you’re taking the time to plan for your future or you’re sitting there, you don’t have to commute now, and make sure you make this work for you.