As a real estate investor, the key is to buy properties for below market value, so you can sell that real estate for a profit. One method for achieving this goal is to focus on off-market properties for sale. But what are the benefits and how do you find off-market real estate for sale? Well, that’s precisely what we’ll explore in today’s article from The Short Sale Gal Kristine Zelazo.
What is an Off-Market Property?
Off-market properties are homes, commercial properties, land and other properties that are not listed on the open real estate market with a real estate agent and they do not appear on the MLS.
Some property owners may opt to retain the services of a real estate professional or attorney as they negotiate the deal and tend to transaction-related paperwork. But in these cases, the real estate professional or attorney serves in more of a consultant role.
What Are the Benefits of Buying Off-Market Properties?
For a real estate investor, off-market properties can bring many benefits, especially when it comes to the amount of competition amongst potential buyers for the property.
Since these properties are not listed on the MLS, they receive fairly little exposure. So you generally do not have members of the public placing an offer on the home. Generally, the only individuals making an offer on the property are real estate investors, although it’s important to remember that as such, these potential buyers are likely experienced and ready to close quickly. Many come with cash-in-hand.
But as a buyer, you do see a major benefit from the reduced competition for the property, as competition usually drives up the price. You also tend to see fewer bidding wars since most prospective buyers are investors who are business-driven. Investors are unlikely to be emotionally-driven to engage in a bidding war.
Off-market properties also bring a major cost savings since you won’t be paying real estate agency commissions. In the case of commercial properties with a price tag of seven figures or higher, this can translate into a lot of money.
Another benefit of off-market properties is the mindset of the seller. In many cases, the seller is serious and unlikely to back out of the deal. A large portion of off-market properties are owned by companies, lenders, investment groups or fellow investors. This means you’re very unlikely to encounter a situation where the seller backs out. You also tend to see a faster closing, which is another benefit to you as an investor.
Need Help Getting Started in Real Estate Investing?
If you’re getting started in real estate, consider working with a real estate investing mentor like The Short Sale Gal, Kristine Zelazo. Getting started in real estate investing can be somewhat challenging, but when done right, you can stand to make significant profits. You’ll have lots of advantages in this regard when you work with a real estate investing and short sale expert like Kristine Zelazo, better known as The Short Sale Gal.
Based in Florida, Kristine works with both buyers and sellers and she is an experienced negotiator. So if you’re an investor seeking to get started in buying short sales and need a great mentor or wish to pursue a short sale transaction for the sale of your property, turn to Kristine Zelazo, the Short Sale Gal!
To get started with selling your home, simply complete the home pre-sale form to provide Kristine with additional information on the property in question. Then, call 786.570.0360.