Flipping properties consists of buying a fixer-upper, improving it, and selling it for a higher price. With the real estate market currently in recovery, now presents the perfect time to get started. Even though you may not be able to purchase your dream home immediately, by starting with wholesaling homes you can gain experience in the real estate market without taking much risk. While some people buy homes they plan to live in themselves, others are looking for an investment opportunity that will serve as their retirement savings or provide supplemental income while they continue working.
Wholesaling properties is another way to take advantage of the current real estate market by finding good deals on distressed property. Wholesalers contact sellers directly at times when they are under
When learning how to work with a wholesaler, it is important to be aware that the best options for working with a wholesaler are in regards to properties that are undesirable
Build your network of wholesalers. If you know people who have worked with good real estate investors, ask them for their advice. This will help you find someone reliable. There are so many realtors out there who don’t do what they say they’re going to do or take care of you as well as they should, so take your time and interview potential partners before signing on with anyone.
Once you’ve found some reputable folks, create a relationship with them by contacting them every few days at first. You want to show these wholesalers that if they work hard on your behalf, then you won’t have to worry about them treating you unfairly.
The Hunt
When working with real estate investors, sometimes you find yourself as a “middle man” who is simply brokering the deal. In many cases, you will not even meet or speak with the buyer. However, if you are dealing with a first-time investor, it may be wise to do some background research about his business and personal finances before doing a deal through a referral from another associate.
Often the first cash buyer for a bargain mobile home park is an experienced operator/investor because he has access to other properties that he can fix up quickly. It makes sense to purchase at least one property in this manner each year even if you only own one such property yourself.
The Math
When you are considering your investments and profits, it’s important to get the numbers right.
Prior to making any offer for a mobile home, you should factor in that mobile homes depreciate quickly and significantly – usually at rates twice what typical houses would. This is due to the fact that they are considered “toy trailers” by mechanics and buyers alike due to their small size and lack of amenities. If you intend on buying a home-based upon its investing value, not its livability or quality, this should be taken into consideration within your calculations.
Getting off to a bad start on your first deal has the potential to derail your investment business. A Colorado Springs real estate wholesaler like HBR Colorado will meticulously calculate all factors involved that come together to make a good deal
Available Inventory
The truth about the MLS is that it’s not well-suited to providing all of the inventory in any one given market, so even if your goal is to list every single deal you open on the MLS in order to get paid top dollar when they sell, there will likely be deals that slip through the cracks unless you’re buying them sight unseen and sight unheard. Because most wholesalers are just scraping by investing small amounts into marketing campaigns, driving around looking for deals in Colorado.
Work With HBR Colorado
You do not need to “reinvent the wheel!” You can kick off your Colorado Springs real estate investment business as a wholesaler right now with HBR Colorado. At HBR Colorado, our job is to help you over any hurdles you may believe are standing in the way of your investment dreams coming true. HBR Colorado takes the time to listen to any of your questions or concerns, providing you with in-depth answers to be confident in the investment decisions you make. At HBR Colorado, we are happy to explain every step of the process. Many who chose real estate wholesaling as their introduction to real estate investing make it their career path. Experience makes a fantastic teacher.
Learning to invest in Colorado Springs real estate can be fun and rewarding. Knowing where to start is the key. Here you will find resources such as [type_of_resource], [type_of_resource], and much more! You could spend countless hours searching for this valuable information—or let us do the work for you! Let us reveal all we know about how to get started, come see what we have here: Ready to find out more about how to get started? Contact HBR Colorado today at (719) 286-0053.