Alex Hodara: We are a real estate agent that currently does rentals in the Boston area. We specialize in brokering deals for college students. In the not too distant future, we will begin the College Housing Investment Program (CHIP). Most parents don’t realize that owning a property in their kid’s college area is a profitable choice to throwing away rent each month. I have created a program that tells parents of investment properties available around college campuses. My program breaks down the amount of cash flow the property will create while demonstrating how much money each individual property will save the parent compared to renting their kid a house or apartment.
The arrival of the super property portals such as Rightmove, Pime Location and Zoopla who between them have over 2 million properties for sale, means that they can spend a thousand pounds on brand awareness. They ensure the public know their websites are the places to search for property in the UK. These sites are only open to real estate agents, so private sites are not able to advertise on them. Online Estate Agents and traditional high street agents spend thousands of pounds advertising with portals.
Utilize absorption rates to figure marketplace times in resale. Compute the absorption rate of like-kind Properties for Sale in a particular market. Example: 10 current listings of single-family homes priced $1000,000 to $125,000. Number of comparable homes sold in the past 12 months: 100/ 8.3 sold per month. Number of comparable homes sold in the last 6 months: 50/ 8.3 sold monthly. Number of comparable homes sold in the past 3 months: 10/ 3.3 sold per month. Current number of months inventory for comparable current listings: 3.
Plan your project. Do not start anything officially until you are done planning; Study the market conditions in the area where the property is located and estimate a selling price for the property. You must also specify a time-frame you ought to finish the project within, one of the biggest mistakes property flippers make is leaving a property to die while waiting for a buyer. Can you do all the work by yourself or will you need help? How much work does the property need? These are the questions to ask when planning the project.
Fantastic quality ads that appear in several different real estate booklets and an agent who knows how to spread the word will help speed up the process. It’s also useful to tell all of your friends, relatives, and anyone who will listen that you have an excellent piece of property for sale. Word of mouth is free and an useful advertising technique.
Do not go in the loan market with any sense of desperation. Lenders can smell it. Particularly the unscrupulous ones. If you encounter a lender with the attitude he or she is doing you a favor, quickly excuse yourself. You’re doing the lender a favor by bringing them your business. Enough said.
So when you are ready to get in the mix please email or call Karen. She’s representing me and a number of other investors in my area and she can help you also. As a matter of fact, I’m making two offers now on homes today with HUGE discounts. Join us!