Homes Tips for The Average Joe

Types of Local Real Estate Investors and Why You Should Sell to Them Selling your home to a local investor is a fairly straightforward process. There are four main kinds of investors: buy-and-hold, wholesaler, flipper, and buy-flip-hold. Buy-and-Hold Investors Simply put, this type of investor buys rental properties. Whether they may manage their own properties or outsource the job, all of them seek to expand their real estate portfolio.
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Wholesaler
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This investor can only hold your property for 10 minutes before selling it to another investor. Flippers These investors are the ones you see on reality shows on TV. They buy the worst house in the area for cheap, fix it and make it attractive, and sell it for 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 purchases the distressed property, flips it and makes it a rental. Several investors are combinations of the three types, but some are strictly one. The amount the investor pays depends on specific factors, like the property’s condition and that of the market in the area. 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 without listing your house for sale, investors may still come to you. However, there’s no need to wait for an investor to find you. You can always reach out to those within your location. So what advantages await you if you sell your home to a real estate investor? 1. Quick and easy 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. If you sell to an investor, closing can only take two weeks to a month. 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 Unlike buyers looking for their perfect move-in ready dream home, investors won’t require repairs or any other job on your property. They will instead do all the work that might be necessary to restore the home. Of course, you should expect a lower offer, but with the right investor, everything will ultimately even out. There may be more advantages if you sell your home to an investor, but these two are undoubtedly the most significant.