If you are in the business of flipping investment properties, you know that time is a key factor to making profits. By quickly selling a fixer-upper, you are cutting down on monthly expenses, such as maintenance and utilities, while maximizing your returns. With that said, there are some ways you can facilitate the sale of your properties. Here are some tips to help you sell an investment property posthaste:
- Deal with Homebuying Companies
Private individuals looking for their dream home are likely the most demanding group of buyers. If you don’t have time to waste, dealing with homebuying companies may be your best bet. These companies will typically buy houses for cash to ensure a fast closing and put in an offer without much ado. This means that you won’t have to worry about the buyer being approved for financing or bankroll expensive repairs.
- List Online
Listing a property online is a sure-fire way to get your investment properties more exposure. But rather than settling with one platform or website, branch out and promote your homes across all channels, including social media. If you’re hosting an open house, you can use Instagram’s “Live” feature to give followers a taste of what is happening in real time.
- Make Repairs
Some repairs are inevitable if you want to avoid a lengthy home sale. As buyers will predictably order an inspection before closing, you might as well take care of some of the home’s issues beforehand and curtail potential negotiations that could drag out the process even longer. Hire a professional to inspect your property and make the recommended repairs or improvements.
- Time it Out
Spring is the best time of the year for the real estate market. With the increased demand during the months of April, May and June, it is wise to time the renovation of your investment home so that it’s ready for listing by springtime. More demand means not only more buyer traffic, but also higher prices, which can be a boon to sellers. Other market circumstances to consider include mortgage rates, tax outlook, and economic growth.
Are you ready to invest in real estate and see the value it can provide? RLG would love to help you! Call us today to learn more!