Have you been missing out on the perks of using PayPal for your real estate investment business?
There are an increasing number of providers that offer some of the financial services that PayPal does. However, many real estate investors aren’t aware of how much PayPal actually offers. In addition to invoicing and easy website integration, PayPal accepts mobile payments on smartphones and tablets. On top of all of this, it is trusted. Here are just a few of the perks you receive in working with PayPal:
Bill Pay
PayPal’s bill pay service offers a two sided financial tool for real estate investors. Bill pay essentially offers credit for purchasing items via PayPal, and through other websites. That means real estate investors can use it to spread out the costs of items they need. This might range from new real estate education courses, to building materials, to marketing collateral. On the other side, real estate investment companies can use this service to help clients afford their products. This can apply to selling info-products, seminar tickets, tour bus tickets, website memberships and access, and potentially even properties. If price is an obstacle to more volume, this could help, and if you are tight on cash flow this could help too.
Collecting Rent
Rent collection can be a major bottleneck and pain point for real estate investors. It doesn’t have to be. No property management firm or real estate investor should be knocking on doors, or collecting cash or checks today. Services like PayPal offer a great way to accept online payments. They can even work for those clients without bank accounts, and who need to compile rent from different credit card balances. It’s far more efficient, removes excuses for being late, and helps cut out losses from fraud.
Pay Your Freelance Team
Most solo investors and real estate companies have teams heavily weighted with freelance workers today. Many use 100% remote staffing. These services make it easy for them to invoice you and to pay them. The ability to supplement with bill pay and other credit cards and accounts makes it easy to keep teams paid on time even when cash is thin. Most freelancers prefer this method of payment, unless they work through outsourcing platforms like UpWork. In these cases, you can still use your PayPal to fund them via these platforms.
Working Capital Loans
One of the latest additions to PayPal’s services is working capital loans. With no credit checks, real estate investment companies can get advanced cash to invest. This money can be used to invest in properties, business tools, real estate education, marketing, rehab materials, and more. The loan is only paid back out of proceeds from sales as they come back in. For those that qualify, this could be a great source of emergency funding for making ends meet in a crunch, or pushing your venture to the next level.
Skip the Hassle of Merchant Accounts
With services like PayPal, there is no need for jumping through all the hoops required for old school merchant accounts. You really don’t need to qualify to open these accounts to be able to accept all types of credit cards, bank transfers, and online payments.
There are a Growing Number of Options
There are other options besides PayPal. Most people know Peter Thiel as the founder of PayPal. His co-founder Max Levchin just raised almost $300 million for a digital credit service that allows consumers to get credit at the counter for just about anything, without having to carry credit cards. SoFi offers real estate buyers to get crowdfunded mortgages without having to go to a regular bank. All of these tools can help improve efficiency and liquidity for real estate investors and small businesses. That helps investors move faster, spend more time on what’s important, slash expenses, and boost profits. You can even manage them from your smartphone while you are off traveling. So if you aren’t leveraging technology for payment processing and working capital, it might be time to check it out.
