Discovering The Truth About Investors
Real estate investors are buying properties for lower than average price, do the necessary repairs and resell it to be able to make twice the profit they’ve initially bought the property for when flipping houses. This is actually a wonderful strategy if you have the cash and don’t care waiting 3 months or so to get the property sold. You have to be aware of the next tips that I will discuss if you are planning to penetrate this investment.
Tip number 1. Find a cheap property – with the way our economy and real estate market goes, you find no shortage of sellers out there. Sellers are encouraged to do a quick sale for countless of reasons similar to foreclosure, inheriting unwanted property, divorce, financial dilemma and so forth. To do great when flipping houses, you have to watch out for these people and send them a letter showing how could you be of help to them. Also, you can find endless leads over the internet with a fully optimized website.
Tip number 2. Practice your negotiation skills – because motivated sellers would want to sell their house quickly and get rid of their problems, this puts you in a great bargaining position to negotiate if there is equity in a deal. To ensure that the property is really a good deal for contracts, see to it that you’ve done analysis after negotiating for its price. Such contracts are easy to fill out but without realtors help, it can stir confusion on your part.
Tip number 3. Find yourself an investor buyer – whenever dealing with investors, make sure to work with cash house buyer companies. These companies are investors who are closing the deal with cash and don’t have to go to banks and apply for a loan. Flipping houses with cash makes the whole process go smoothly and fast.
However, you might be wondering where you can find these cash buyers? There are many sources where you can find reputable cash buyers like in foreclosure auctions, networking events or local real estate investors association.
Tip number 4. Assign the contract – as soon as you found your cash buyer, you want to assign them a contract. What you should do here is fairly simple, get yourself an assignment form, fill everything, put your wholesale price and sign it. With the assignment of contract, it shows your right to purchase the property to someone else but you are not liable for it.
Tip number 5. Start with the title work – if you don’t want to have problems with the titling, then it is best to go to a title company.