Why People Sell

WHY YOU NEED TO KNOW WHY PEOPLE SELL

You're a realtor, a real estate investor, or you flip houses for profit.  Whatever the case, you need to find houses to buy.  In some markets, the competition can be pretty stiff.  Have you ever considered why people sell their homes?  And perhaps more importantly, why some people are in a rush to sell their homes fast?

Knowing why people sell real estate can help you market to find people who want to sell, whom you can help, and make respectable profits!

If you know why people sell, you can target your marketing to those motivating factors and situations.  We want people who need to sell.  We want people who are behind on their bills.  We want people who are behind on their mortgage.  Quite often these people need to sell their house, as is, and fast.  

Here are two big reasons you should be aware of:

SELLING REAL ESTATE DUE TO DIVORCE

Quite often, in a divorce situation, there are financial...

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Caveat Caupo - Landlord Beware

Screening Rental Applicants

In this day and age, with strict laws protecting the rights of the tenant, it is more important than ever to properly screen your rental applicants.  Sadly, there are the tenants from hell who know how to work the system and habitually live rent free for months at a time.  They have every intention of using the eviction process to their full advantage.  You do not want to ever find yourself in that situation.

The screen process should begin with a thorough rental application.  The application should ask:

  • full names
  • dates of birth
  • previous addresses for last 10 years
  • reasons for moving
  • references from previous landlords
  • current employer and income
  • employer reference
  • permission for credit check

It is very important not to accept any information at face value.  Verify everything that you can independently of the application.

The completed application is only the beginning of the rental application screening process.  Call...

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DIY vs Hiring Contractors

 

Do It Yourself

DIY is a way to keep your costs down on your flip.  If you have the skills, and can do good work this might be an avenue to consider.  Bear in mind, the time you spend doing the work yourself is time you aren’t spending on finding a buyer, or finding your next investment property.  You have to remember that your work will probably be placed under close scrutiny by a home inspector.  If the work isn’t good, it will end up costing you money.  Any sub-standard work or issues found will result in the buyer asking for concessions on the sale price, or demanding the work be repaired or redone.

Hire a Contractor

If you are hiring a contractor, be sure to hire someone who is bonded and licensed.  Check out the contractor online for reviews.  Ask the contractor for references of people that he has done work for.  You may find contractors at home improvement stores such as Home Depot or Lowes, buying larger...

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