How this 32-year-old built a $2.5m property portfolio
Being a first-generation migrant who saw his parents work hard for everything they had, this property investor used it a...
Utilising technology to combine financial and property information will result in greater outcomes for investors going forward, according to an industry expert.
Speaking to Smart Property Investment as part of its proptech special, Managed co-founder and director Nick Bouris sounded off on trends investors should be looking out for when it comes to proptech.
“Look forward to technology that better informs investment decisions, automates process and augments the conversations you have with industry professionals,” Mr Bouris advised.
“Also, expect a greater connection between the professional services that are adjacent to each other.”
One example Mr Bouris said he thinks the market will see is “greater portability of financial information and connection to property information”.
“We’ll see property management and sales applications feeding property finance. You won’t need to provide a mortgage broker with tonnes of paper documents; a living credit profile against you and your portfolio will be accessible by lenders.
“They’ll know exactly what kind of income you generate from job and portfolio, they’ll know exactly what kind of equity you have in your portfolio based on repayments and market valuations being generated by listing portals, and they’ll know your credit score from APIs of all the big credit agencies.”
These trends are set to alter the nature of both investing and expanding one’s property portfolio, Mr Bouris noted.
“It will make expanding an existing portfolio much easier — as that property or properties will be alive in the sense that lenders will have a three-dimensional look at whether or not they can finance your next purchase,” he explained.
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