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Types of Local Real Estate Investors and Why You Should Sell to Them Selling your home to a local investor is a pretty basic process. There are four main kinds of investors: buy-and-hold, wholesaler, flipper, and buy-flip-hold. Buy-and-Hold Investors Simply put, this type of investor buys 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
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This type of investor may hold your property and then sell it to another investor within minutes of the purchase. Flippers You’ve probably seen these investors on reality shows on TV. They buy the worst house in the area for cheap, fix it and make it attractive, and sell it for profit. Buy/Flip/Hold A combo of Buy-and-Hold and Flipper Investors, this is typically the sweet spot we’re all looking for. 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 if you don’t list your property for sale, investors can still look for you. However, there’s no need to wait for an investor to find you. You can always reach out to those in your area. So what advantages await you if you sell 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 investors, closing can be as quick as two to four weeks. With that in mind, you can decide if the speedy sale is worth the cheap price you may have to sell your house for. 2. Repairs not needed As opposed to a buyer searching for their perfect move-in ready dream house, investors won’t need you to do repairs or any other job on the property. Instead, they will take care of all the work that may be necessary to restore the home. Of course, you can expect a cheaper offer, but things will even out in the end if you have the right investor. You can enjoy more advantages if you sell a home to a local investor, but these two may well be the most significant.