228 – How To Keep A Flip From Flopping

by | Apr 24, 2020 | Podcast | 0 comments

How To Keep A Flip From Flopping

It’s a Perfect Storm… 

Currently, we are experiencing a global monetary crisis 

The oil and gas industry is a mess 

The US is in the middle of a mortgage meltdown… 

The Stock Market is a train wreck. 

The current number of unemployed people in America is larger than ever before… 

The catalyst to tip the scales is the Global Covid-19 Pandemic! 

All of this lends itself to a rough market in real estate, buying confidence is at an all-time low.  When buyer confidence wanes, we must work harder to sell big-ticket items. 

How you might ask? 

Well…Understand this…People will always want a deal and in this episode, I’m going to discuss how you can deliver them a deal while still keeping much of your profit in your pocket.  

When you bought your home you should have gotten an appraisal, now is a great time to have it reappraised if the construction work is finished.  If not finished, put together a statement of work to inform the appraiser of what is to be finished and when.  A good appraiser can use this info to complete your appraisal. 

Next, hire a Rockstar Agent to Sell it for slightly below appraised value.  A good Realtor who is an expert at marketing will use the appraisal as a tool to attract lots of buyers hoping for a great deal, even in these troubled times. 

Insist on high-quality professional photos along with twilight photography if it is a pretty house.  Your agent should already have one they use, ask for examples from previous listings. 

Insist on a professional quality video walk through, the photographer can often do it for you but sometimes they refer the video portion out, regardless, it will go a long way towards attracting people to your home. 

Insist on Facebook and YouTube Paid ads run by an expert in the field, this should be a no-brainer.  You need to get a ton of eyes on this property in order to get it sold.  Most agents are not Ad Savvy so ask for proof of prior campaigns. 

Consider offering seller financing.  This makes it easier to buy your home by attracting a larger pool of buyers.  Yes, I know you need your money yesterday but you can sell the note after closing to an investor at a slight discount.  If you work with a note investor upfront they will likely walk you through how to structure the deal to make the note more desirable to buy. 

Whatever you do SELL NOW