5 Lessons Learned: Houses

Local Real Estate Investors and Advantages of Selling to Them Selling your home to a local investor is often a clear-cut process. There are four main kinds of investors: buy-and-hold, wholesaler, flipper, and buy-flip-hold. Buy-and-Hold Investors In simple terms, this investor type is into 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
A 10-Point Plan for Properties (Without Being Overwhelmed)
This type of investor will not hold your property for long, and may sell it to another investor after 10 minutes of the purchase. Flippers These investors are the ones you see 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 This is a combination of Buy-and-Hold and Flipper Investors and where we usually find our sweet spot. The owner has to let go of a distressed property because of financial difficulties, job relocation, inheritance, divorce or any other issue. The investor purchases the distressed property, flips it and makes it a rental. Plenty of investors combine the three types while others only do 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 probably come to you, especially if the right keywords are used in your description, like “needs TLC” or “fixer upper.” Even without listing your house for sale, investors may still come to you. There’s no need to wait for an investor to get in touch with you though. You can always reach out to those within your location. So what are the advantages of selling your home to a real estate investor? 1. Fast and easy cash Investors don’t normally get a mortgage, and you don’t need to be waiting 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 Unlike buyers looking for their perfect move-in ready dream home, investors won’t require repairs or any other job on your 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. There may be more advantages if you sell your home to an investor, but these two are undoubtedly the most significant.