Finding the perfect investment property can be a challenge, but there are a few tricks that you can employ to score some super profitable deals on a consistent basis.
Tip 1: Act Fast!
Time is of the essence, especially when it comes to real estate. The good deals always go fast, so be prepared to move as soon as you encounter a great deal!
Don’t hesitate when it comes to moving on a great property. Putting off that phone call and/or email can lead you to miss out on thousands in profit.
Tip 2: Check Non-Traditional Channels
Often, before a homeowner turns to a real estate agent, they’ll try to sell the home on their own via outlets like Craigslist and online classifieds. So keep an eye on these channels and get ready to scoop a great deal.
The benefit of Craigslist and online classifieds is that they don’t tend to get the same amount of visibility and traffic as the MLS listings, so you’ll encounter fewer competitors. That means you’ve got a better chance of closing the deal!
Tip 3: Turn to a Professional Contractor
When dealing with investment properties, your profit margin really varies depending upon the condition of the home and how much work it will require. Under-estimating the amount of work required to get a property in prime, saleable condition is a common error — an error that can be quite costly.
So find a trusted professional contractor with whom you can partner and ensure that they consult on every prospective property that you’re considering.
If you’re ready to get involved as an investor, contact Greg Teele, founder and CEO of Teele Enterprises, Inc. Whether you’re considering wholesaling, fix and flips, buy and holds or another investment option, Teele Enterprises is here to assist. Call 224.343.6890 or complete our investor profile form so we can learn about you and your investment goals.