The real estate market has recovered from the 2008 housing market crash, and over the past decade, people have been returning to purchasing homes. People are not only buying homes for their own needs but are also taking advantage of the opportunity to make a profit.
If you are one of those people who are looking for ways to make money with real estate these days, you need this comprehensive guide. It will teach you how to start buying and selling properties as well as marketing them properly.
Buy right, and buy at the right time
Buying a house is an important decision, and it requires a lot of consideration. You should always go for a place that will be worth your money if you decide to sell in the future. If you’re thinking about buying in a certain area, you should checkout that area in terms of its demand and growth prospects in the future.
You also need to see what other people in the neighborhood are doing with their homes. A good way to start this process is by having an honest conversation with your realtor about what they think about their local market’s prospects regarding value growth and appreciation.
How is the Market Doing?
If you’re thinking about buying a home, you should also see how the real estate market is doing for that area. For example, if you’re thinking of living in North Carolina, you should look at stats of the last 2-3 years where prices have been changing. In this way, if there’s a sudden increase in prices in recent times, you’ll be able to spot it easily and make a smart move when it comes to timing your purchase.
What’s the Rent?
If you’re not planning to sell your house anytime soon but are planning to rent it out instead, then it’s important that you buy in areas where demand for rentals is high in the future. The reason for this is simple: now there’s a lot of competition in the market, and you’re more likely to get a good rental contract if you buy in an area where people are looking to rent out their homes.
What Amenities Are There?
You should also look into the demand and the interest of prospective tenants, and then choose an area that’s close to new developments that will surely increase population. You should also make sure that there are new schools nearby, which means you will find it easier for your tenants to find new jobs once they’ve moved in.
Mortgage
When you buy, you will also need to make sure that the mortgage companies are happy with the property you want to buy. There are many types of loans available these days, and most of them are linked to different market values. Before signing any contracts, investigate all of your options.
Marketing Your Property
If you’re looking to invest in real estate, you should make sure your home is properly marketed and people can easily access it. You should make sure your property looks attractive with helpful descriptions and interesting photos. You should also make it easy for potential buyers to contact you by posting your phone number or email address on the site.
Most people will look at the pictures and descriptions before they decide to call you. If your site is organized in a way that’s helpful for buyers, then it’s only a matter of time before they decide to contact you.
Learn how to pick off investors
Investors are everywhere these days, and if you’re thinking about making some money from selling real estate, then you should learn how to pick them off when you have a good property on your hands. You can start this process by properly pricing your home with a competitive estimate of the market value of the property. Make sure it has enough room for profit when it comes time for resale in the future.
Once you’ve priced it right, you should post your property on online sites.If they find something that’s interesting or that suits their needs, they’ll make an offer. After you receive the offer, make sure you negotiate with them until you find a price that works for both of you.
Hiring a Real Estate Agent
People will always hire an agent with good marketing and communication skills, and they’re more likely to sell their property if they can find a suitable buyer who can investigate all their needs. They would love to purchase a house that’s in demand or is very attractive for all sorts of buyers.
If you’re looking for a real estate agent in Fayetteville, Phillip Fehler can help you. He’s a broker at Fathom Realty and offers relocation and housing services in North Carolina. Visit his website to browse through plenty of useful resources on the real estate market.
