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How Real Estate Investors Reduce Risk and Add Value with BIM Technology

Dec 29, 2020 10:49:00 AM

As a real estate investor, you could be involved in the purchase, ownership, maintenance, and rental/sale of a property all in the same day. The ultimate goal in this hard work is typically making a profit. Without accurate information about a property, this can be hard to do. But that’s where laser scanning and BIM technology come in.

Not only can laser scanning and BIM documentation help you make smart decisions about which properties you invest in, but they can also help you improve your properties and increase your ROI. Read on to find out how.

Optimize asset performance WITH BIM TECHNOLOGY

With BIM documentation in your arsenal, you get portfolio-level insights and a deeper understanding of your investment properties. This enables you to implement a complete documentation solution. Ultimately, you’ll have a better understanding of your assets, allowing you to further develop them. 

Improve properties

With a precise 3D visual of a property, you can quickly spot opportunities for improvement. Not only can this help draw potential tenants, but it can also help you retain the ones you have. With a 3D model of a property, you can also propose property improvements using the visual information you need to sell your idea to stakeholders. This is a more effective approach than a verbal or 2D representation of your plan. 

At the same time, this data gives you the spatial awareness you need to make smart choices for maximizing available space on a property.

Minimize risk

Real estate investing can be a risky undertaking. But there are ways to help mitigate the risks you face, including 3D laser scanning and BIM. With the most accurate and up-to-date information on hand, you’re able to make smarter decisions about the future of a property. It also helps minimize costly mistakes throughout the construction and renovation process that could diminish your ROI. 

Real estate investors aren’t the only people who benefit substantially from laser scanning and BIM technology. In fact, since 1997, we have measured and documented an estimated 200 million square feet of space for architects, engineers, building owners, and real estate professionals.

If you’d like to learn more about what building information modeling and 3D laser scanning can do for you, contact Existing Conditions today.

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Jared Curtis

Written by Jared Curtis

President, Existing Conditions

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