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Lessons Learned About Houses

Posted on September 15, 2017 in Sports & Athletics

Local Real Estate Investors and Advantages of Selling to Them Selling your home to a local investor is a pretty basic process. There are essentially four kinds of investors: buy and hold investor, wholesaler, flipper, and buy/flip/hold investor. Buy-and-Hold Investors Simply put, this type of investor buys rental properties. They may or may not manage their properties personally, but all of them would like to see growth in their real estate portfolio.
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Wholesaler
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This type of investor may hold your property and then sell it to another investor within minutes of the purchase. Flippers You’ve probably seen these investors on reality shows on TV. They purchase a really bad-looking but cheap house in the area, repair it and make it look good, and then sell it to gain profit. Buy/Flip/Hold A combination of Buy & Hold and Flipper Investors, this is often where our sweet spot lies. The owner has to sell a problematic property due to financial strain or other issues like job relocation, divorce or inheritance. The investor buys the distressed property, flips it and turns it into a rental. A lot of investors do a combo of the three types, while some focus on one. How much the investor will pay depends on a variety of factors, such as the specifics of your property and the area’s market conditions. If you advertise your property for sale, investors will look for you, especially if you use the correct keywords in the description, such as “handyman special” or “fixer upper.” Even if you don’t list your property for sale, investors can still look for you. However, there’s no need to wait for an investor to find you. You can always reach out to those who are in your locality. So what advantages await you if you sell your home to a real estate investor? 1. Quick cash Investors don’t usually have to get a mortgage, and you don’t have to anxiously wait for the bank to decide if you can get a loan or not. They pay in cash most of the time, and because they mortgage is out of the equation, they can close the deal a lot faster than a standard buyer. For an investor, closing can take as fast as two weeks to thirty days. Taking note of that, you can decide whether or not the fast sale is worth the reduced price you may have to sell your property for. 2. No need for repairs As opposed to a buyer searching for their perfect move-in ready dream house, investors won’t need you to do repairs or any other job on the property. Instead, they will take care of all the work that may be necessary to restore the home. Of course, you should expect a lower offer, but with the right investor, everything will ultimately even out. You can enjoy more advantages if you sell a home to a local investor, but these two may well be the most significant.