If you’re ready to get involved in real estate investing — particularly wholesaling or fixing and flipping, then it’s wise to partner up with a trusted contractor or rehabber. But why is this a wise decision for new real estate investors? This, along with a few additional real estate investing tips, is precisely what we’ll explore in today’s article from The Short Sale Gal, Kristine Zelazo.
REAL ESTATE INVESTING TIPS: GET PRICE BREAKS
Joining forces with an experienced rehabber or contractor can go a long way toward helping you turn a healthy profit over and over again.
Firstly, when you work with the same contractor for each investment property you acquire, you’ll enjoy price breaks which mean a higher profit margin on each property. Most rehabbers and contractors are willing to provide a significant price break to clients who partner with them on a regular basis, so over the years you could save tens of thousands of dollars (or more.)
REAL ESTATE INVESTING TIPS: GET ACCURATE ESTIMATES FOR FIX AND FLIPS
Finding an experienced and trusted contractor can also provide you with peace of mind and valuable insight as you inspect a prospective investment property. Determining how much it will cost to upgrade or rehab a home before you make an offer is absolutely essential. This is an area where many novice real estate investors can run into trouble, as they may acquire a property that’s just not profitable as a fix and flip.
If you underestimate the cost of rehabbing or renovating a property, you’re going to cut into your profit margin. In rare cases, it could even cost you money to rehab the home! So to avoid this, it’s important to get an accurate estimate for repairs and improvementsbefore you make an offer.
REAL ESTATE INVESTING TIPS: PARTNER WITH A CONTRACTOR FOR FASTER FLIPPING
Working with a rehabbing partner also benefits you if you’re into wholesaling, as the key to wholesaling is to turn the property as quickly as possible.
When you have a rehabber lined up in advance, you can be confident knowing the transaction will go smoothly. This also prevents a situation where the property sale is held up indefinitely and you’re stuck with your funds tied up in a property that you simply cannot move. So if you’re going to get involved in wholesaling, get at least two prospective rehabbers lined up (and ideally, you should have connections with at least a couple more rehabbers in case the deal falls through.)
REAL ESTATE INVESTMENTS WITH THE SHORT SALE GAL KRISTINE ZELAZO
If you’re in search of an investment property, wish to get involved in real estate investments such as buying short sales, but are unsure of where to begin, turn to Kristine Zelazo, the Short Sale Gal!
In addition to helping buyers and sellers with short sale transactions in South Florida and beyond, The Short Sale Gal Kristine Zelazo also works with a small number of real estate investors who are seeking to get involved in short sale investing, rehabbing and fix and flipping properties.
Kristine Zelazo has years of experience in the real estate investing field, so she’s well-positioned to provide guidance to new investors who are seeking a mentor and business partner.
If you’re seeking to sell your home in a short sale or wish to sell your home to an investor, simply complete the home pre-sale form to provide Kristine with additional information on the property in question. Then, call 786.570.0360.