The real estate market has become the front of investors of all kinds in the last several years. A few years ago, most investors were purchasing single family homes, rehabbing them and flipping them for a one time profit. Granted this is a decent way to make a lot of cash in a one lump sum, but what about making an investment pay you over and over again? Now you need to look into multi-unit apartment properties!
The government is also looking for ways to phase out Fanny and Freddie. These two private for-profit government backed entities have made some huge mistakes costing the US taxpayer a lot of money. Although it is going to take a long time to close them out, I can also see rates rising because there will be less competition.
A Real Estate Agent not only has the necessary training and expertise, they will usually have a built in network of people to work with. Few people have as many acquaintances and contacts as someone in the property game. Let them use that network to find the buyers you need. The ones who don’t waste their time looking in the classifieds or the online listings. The ones who wait for a professional to come to them and tell them a great opportunity just hit the market. These people aren’t struggling to make ends meet and thus not qualified to pay your asking price. They know what they want and if the price is fair, they will be more than glad to pay it.
Without a question this is one of the most important aspects in selecting a great realtor. I’ve come to notice that a lot of people think that real estate agents make a lot of money and that it is a short cut to becoming well off. So as a result, a whole bunch of people get their realtor license for the wrong reasons. They have “hopes” of getting a 5% commission on a $1,000,000 house ($50,000). The truth is, being successful at anything requires a lot of hard work and dedication no matter what business you are in. Real Estate is no different – in fact, about 20% of realtors do 80% of all real estate transactions (within a particular geographical area).
It would be hard if you tend to refuse all offers, regardless of the merit and turn them down. Never disregard a home offer unless it is obviously way below the price of your home. If you expect a buyer that will offer the highest price possible, you will have a long time to wait for that buyer to come along.
Like a high stakes game of poker, there is a great price to pay if you lose at the game of flipping real estate. The choice to “hold ’em” or to “fold ’em” is a choice that a poker player, or an investor, must make after some careful and calculated analysis of the hand they have been dealt, or the house that they are considering as a flip.
Before you decide to get a rent-to-own property, make sure that you consider important thing carefully. Be sure that you will be able to purchase the house because all your initial payment will go to waste if you fail.