In investment, it is always important to stay honest - especially to yourself! Remember your end goal. If you are looking to invest or maybe flip a property, I have found that the best way to increase profits is by flipping several homes each year, rather than waiting for the “perfect offer” to walk through the door. If something comes in and it’s not exactly what you wanted in return, take it and move forward to the next offer.
I think it is also important - and this can go for newer investors - to know that the properties are not going to be perfect, and that is okay! Investment properties are not your primary residence, so don’t lose time and money getting caught up on minute details. Also know that your personal tastes and what you want to live in at home, may not be what is best for an investment property. I like working with investors because I do enjoy when they call me and ask my thoughts on design or layout. I also like when investors call me and ask me about inspection items and we discuss what is reasonable and not reasonable. You’ve hired me, so let me help - I want to help you make a good return, too!
I am always here to help you, but if you are going to invest, it is important that you do your homework. The three most important numbers for investors are: how much you can sell the home for after the rehab, how much the rehab will cost, and what your maximum offer can be. Once you decide those things I am happy to help you determine your home’s value after repair. I am also happy to help on the Buying side in determining how low of an offer I think a Seller may accept.
At the end of the day, I am happy to offer my opinions as needed in regards to style and design, and also happy help you understand what adds more value to your investment. Please don’t hesitate to ask - I think investing is a lot of fun!
Want to start making some money with AirBnB?
Making money with Airbnb
I’m also a big advocate for Airbnb and do so with my own properties. If you’re interested in learning how to make some passive income, off set your mortgage costs, or have questions on how to host your own Airbnb, I’d love to discuss how to do so with you