So how do you do that

#starter of the week Avi Baram #post5
As I wrote in post number 2, you already know the area, at least you understand the area, you know the budget and the financing, you have decided whether you prefer to work with Compasses, which I do not believe and I will explain: how many houses were sold? In what situation? How much was invested in them? Two houses, one next to the other, one was bought for 150, and is ready for living, the other was sold for 90, but there is an investment of 50. So the compasses cannot be accurate, but only a picture of an area with many variables, how many square feet, how many rooms, how many bathrooms, what floor, solid wood or carpet, the condition of the roof,,,
So you get to know the area, its development, proximity to commercial centers, schools, transportation.
Have you decided whether to flip or rent, have you decided whether to go long-term or short-term, whether to take a property with a tenant who is already paying rent or an empty house,,,
A house with a tenant can be a good deal, if you've checked the tenant and he maintains the house, and even if he pays a little less than your expectations, but it can definitely be a bad deal, if rats won't agree to live there, and I've met such houses and ran away from there quickly above the limit.
From here, start looking for the right property.
For this purpose, there is the attendant, the escort, the guy/girl who will listen to you, and match you according to your request. They will do an initial inspection of the property, rough estimates of repairs, the value after the renovation, the rental value or the flip, (usually the lenders have land people who locate the properties for them, local land people who will go to the property, see the surroundings, the eyes of the lender.
The lender has informed you that he has a potential property, and is going to submit an offer on the house, the lender will take care of the inspections of the house with the bank, with the municipality, with the district and make sure that the house is clean, the lender will bring you price quotes from professionals, and an offer at what level to renovate, if at all, will suit you, if You want, a management company, and will accompany you through all the stages of the closing, after the closing, will accompany the entire renovation process at the level agreed upon, and will hand over the key to the management company,
Let's just say, if you are not local, you must have a reliable escort who will work for you, because without him, you will be lost.
No, don't jump with enthusiasm for an excellent salesperson who will tell you "success" stories. Find a lender with recommendations, with proof of past transactions and recommendations.
A lender charges a certain amount for the escort, usually between 4000 and 7000, depending on the amount of transactions you will make with him, the amount of the investment, if he asks you for an amount that is too low, a red light will turn on for you, this lender must work hard for you, get to the properties, bargain on your behalf with the seller, bargain on your behalf with the professionals, to pay his field personnel, the locators,
Holsler for you is a seller and the owner of the property, he wants to sell you a property that he is selling and earn something in the middle. A lender works for you, he finds you the house you want, he has no interest in selling you a property that is not suitable for you.
In the next post we will say goodbye with summaries.
In pictures:
Two days after buying it on the market, within 10 days there was a tenant inside.

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