Your peers are buying properties in these other markets, getting a lot of cash flow for their money and are racking up a diverse portfolio of assets quickly. Are they geniuses? Are they better real estate investors? The answer is no. Many of these people stepped outside their comfort zone, took very little risk, and now are reaping the rewards. How are they doing this? Let’s take a look.
You should be clear about the kinds of materials that will be used in construction, the presence, type of or absence of any features or amenities (e.g. heating, air conditioning, recreational facilities, access for the handicapped, landscaping, parking, etc.). All of these can be crucial to the ultimate value of the property. Also be clear about any zoning issues or legal permits that may be needed. The developer is responsible for securing these, but make sure this is all covered.
Lastly in my opinion, this is by far THE SAFEST real estate invesment you can possibly make. If the real estate market collapsed today, your tenant must still pay the appreciated price that you two agreed on if they wish to purchase the house. If they back out, you can keep their down payment and the extra rent payment (for the option to purchase the home). In addition, the collapse of the market will create a renters market where people will be better off renting a home for some time instead of buying one. Your house can now change from a rent to own property to a rent only property for the duration of this time. Finally, it is likely that since your original tenants intended on purchasing the home, they will have likely kept it in a good condition and may have improved the property.
I’ve found in the past that always makes for a better tenant that takes better care of my property. As a result my properties are more liquid when i need them to be. All in all, for us real estate investors, since we didn’t create this mess, and we are not responsible for the situation. So we feel real estate investors shouldn’t feel guilty when taking advantage of the mess that is in front of us.
A real estate agent with the help of his contacts finds the best possible outcomes of your search criteria. If you have any specifications you can mention them clearly so that it becomes easy for an agent to choose the right kind of place or land that you have been looking for. An agent supplies you with a couple of options amongst which you can choose the ones that you like. Therefore, it is always advisable for you to hire an agent while looking for a real estate.
Do a landscaping project. Make a good landscape design outside your home and plant vigorous flowers and small tress around your property. In case your home has no foundation plantings, try to add something attractive in front your home. Remember that a property with unique landscaping looks inviting.
What’s a seller to do? One of the newest ways to get laser-targeted traffic to your offer to sell is through the Internet. Having your own locally specific listing appear in the big search engines can create a flood of interested buyers calling and scheduling appointments to view your FSBO real estate. Even better, you can compete directly with MLS and real estate brokers on a level playing field.