How You Can Sell Your House Fast In Memphis

No one wants their home to languish on the market. If you want to sell your house fast in Memphis, you’re going to want to make sure you have a solid strategy. These are a few tips you’ll want to keep in mind as you look for a buyer for your home.

Get Rid Of Clutter And Personal Items

It’s likely that your home is full of knick-knacks and items that are personal to you, like family photos. While some of these things may be cherished possessions, you’ll want them out of your house while you’re trying to sell.

When a potential buyer sees your home, they should be able to picture themselves living there. That’s a lot harder to do when your child’s drawings are displayed on the fridge. Getting rid of clutter can also make your house appeal larger, which can create an illusion of more space.

Work With A Realtor

You may be determined to sell your house on your own. However, if your goal is to sell effectively and for the right price, the smartest thing you can do is work with an experienced realtor that knows the local market well. Realtors typically work on commission, which means the realtor you work with will be highly motivated to sell your home.

A lot of people are wary of working with real estate agents because of the cost. Surprisingly, studies have found that homes sold by realtors sell for significantly more. Even if you’re paying a fee to a realtor, you could wind up earning more than you spend.

Sell To An Investor

If selling quickly is your priority, then going with a realtor or selling on your own might not be the best option. Working a Memphis real estate investor can often get you a sale much more quickly, and they will typically cover all the closing costs and fees associated with the transactions.

Investors normally prefer a property to not be in tip top shape, because they make their money in buying it at a discount in order to make their money. This means that you won’t have to make any repairs out of pocket on your own, so you’re actually potentially saving money this way.

This is a great method if you can’t afford to get the house up to market standards, and you can get a home sold in a lot less time than with a realtor. Sp

Take Great Photos Of Your Home

An excellent price isn’t enough to get your home noticed. In many cases, when people are house-shopping, they follow their heart. That’s why beautiful photos can make or break a real estate listing.

Focus on taking clear, high-quality photos that capture some of the most beautiful details of your home. Make sure you take exterior shots as well as interior shots. Curb appeal is very important to buyers. If a buyer falls in love with your house before they ever see it, there’s a great chance they’ll make an offer.

Create A Listing That Will Catch People’s Attention

In addition to stellar photos, you’ll want to use the right words in your real estate listing. Buyers often enter specific search terms when they are trying to find the right home. As mentioned above, “curb appeal” is something a lot of buyers seek out. Buyers may also look for things like “quiet neighborhood” or “large backyard.”

If you’re not much of a writer, you may want to enlist a professional to create a great listing for you. People may be apprehensive about seeing a property if the real estate listing includes spelling and grammatical errors. Make sure your listing is making a good impression.

Consider Renovating

Fixer-uppers aren’t in high demand anymore. Many buyers specifically want to move into homes that are turnkey ready. If your home is dated, or if there are parts of your home that are in need of repairs, making renovations could lead to a faster sale.

Naturally renovations aren’t something that all buyers are going to be able to afford. However, if you invest money into your home, you can expect to see a return. If you can only afford a few renovations, kitchens, bathrooms, and your backyard are the best spaces to focus on.

Consider New Paint And Flooring

If you don’t have room in your budget for large-scale renovations, you can make smaller fixes instead. Installing new flooring and repainting your walls can make your home look like new again. You may also want to consider adding new light fixes as well.

A few small changes like this can make a home look more inviting. While hardwood floors can be a big investment, vinyl and laminate flooring can be very affordable. If you do choose to paint your home, you should make a point of using neutral colors.

Pick The Right Price

If your home is priced too high, it’s likely to sit on the market for quite some time. While homes often sell for less than they are listed for, picking a higher price isn’t always a sound strategy. Many buyers use price filters, which means they won’t see a home that is out of their price range.

You should base your price on the price other comparable homes have sold for in the last few months. Don’t look at what homes in your area sold for a few years ago. If you want to make a fast sale, recent data is key.

If you want to find a buyer for your home quickly, you’re going to want to make sure you follow the right advice. These tips will help you get your Memphis home off the market sooner rather than later.

Real Estate, Online Marketing, and Unique Business Models: The Ultimate Combination

airbnb homeowner rental arbitrage

Most people would consider having multiple “businesses” as laterals rather than complementary aspects.

But let me tell you, when you combine things together that are seemingly separate but end up being complementary, you create a true unique selling proposition.

If you want to be in real estate, have skills in online marketing, and can creatively apply new and unique business models, then you are really in a league of your own.

That’s what happened when AirBnB first went into business, and then again when people realized they can have a totally different business model with their own real estate.

The Real Estate Method of Long-Term Investing

Real estate investing has been around for decades and it has built people immense amounts of wealth.

This can be from wholesaling, flipping, holding rental properties, or owning commercial properties.

In each case, the real estate investor can make a sh*t ton of money from land and the properties on top of them.

One of the tried-and-true methods of growing steady wealth is by having rental properties.

The easiest way for people to do that in most cases is through either single-family homes or multi-unit apartment complexes.

With single-family homes, you can have a long-term tenant that pays you monthly, covering your mortgage and gaining a little bit of profit.

This is called having cash-flow.

With commercial properties like apartment complexes, people start small with duplexes and then trade up to bigger complexes using the 1031 exchange.

This means that you can sell a property and buy another one without having to pay capital gains taxes.

This has been done for a long time, and people have built millions in assets simply by doing this.

Most real estate investors that have some years on them will tell you that these two buy-and-hold strategies are the best way to create a solid foundation of passive income.

Combining Online Marketing Into The Mix

Check this out:

If you take the buy-and-hold strategy and turn that into an online marketing gig, then what do you get?

AirBnB.

AirBnB’s idea was to provide places that people could rent on a nightly basis that were not in hotels.

They built their platform then scraped the properties craigslist, where they’d seen a need forming, and attracted audiences to their site.

In what seemed like overnight, they built an empire of rental properties and such a large user base that they grew far more quickly than anyone would’ve imagined.

This is the power of putting technology and marketing with a business model that has already proven to work.

Creating The Unique Business Model

Homeowners noticed something really neat:

Since they could rent their own properties for a nightly rate, they were making a lot more money than with a long-term tenant.

A tenant might be $950 a month for a particular 2 bedroom apartment, but when you rent the unit  for $100, you only need to rent it out for almost 1/3 of the month to reach the same amount of revenue.

After evaluating the demand for housing in particular areas, homeowners realized they can triple the revenue they bring in from a single property.

With that revelation, there’s only one way to go from there…

…Purchasing more properties and replicating the model.

Now real estate investors have turned to catching as many short-term rental properties as possible with the intent of putting them up on nightly rental sites like vrbo and airBnB.

Once that business model started trending, other real estate investor saw an opportunity.

Wholesalers are able to find sellers who need to get rid of a property, and they pair them up with a buyer who is interested in it.

They get a check as their “fee” without ever having the purchase the property.

They are simply doing the middle-man’s work.

Why not do the same thing with the airBnB short-term rental business model?

Now we’re seeing a trend of investors finding homeowners that are willing to monetize their properties but don’t know how or don’t want to learn how to deal with short-term rental processes and regulations.

Investors will get a homeowner to agree to the model, and then turn around and prepare it for airBnB-style renting.

This means that they might have to put in some work into the interior, which generally raises the home’s value anyway but also gives a better “cozy” feel to the space.

Then they will list them on these short term rental sites.

The properties will get bookings and the investor will split a portion of the profits with the homeowner, making it a win-win-win situation for all parties involved – the homeowner, investor, and tenant.

This is called a Master Lease model by some, and they are becoming increasingly popular in tourist areas or neighborhoods that have a lot of events or venues.

Check out this video on rental arbitrage to find out more:

Other methods might involve simply buying properties that fit the mold.

Areas such as downtown Houston always have a need for rental properties for the various events, venues, business meetings, and tourists.

These areas are also subject to foreclosures, and people are struggling to keep their homes.

This can result in another win-win situation where, as an investor, you’re able to save a homeowner from bankruptcy while also remodeling the home and preparing it to be a profitable business for you.

Many other cities can provide homes at a discount as well, you simply have to learn how to look.

Catch The Wave

Check out the Master Lease model and see if it might be something you can dig into yourself or do with your own properties if you have them.

These might also be called AirBnB arbitrage.

It’s worth checking out the demand on short term housing in your area and seeing if you might be able to make some additional profit on the housing that’s available there.

Let us know what you find, and check back to learn more! (http://mautomat.com).

The Path To Real Estate Investing

Image result for real estate investing

Most people have heard of real estate investing in one sense or another, but it is generally a mysterious strategy that they don’t understand or even think it’s something beyond their capability. Contrary to popular belief, real estate investing is something anyone can do if they’re truly interested in learning the ins and outs. With the help of a Houston home buyer company, we’ve brought a summary of the primary real estate investment roles.

 

The Styles of Investment

There are multiple styles of real estate investment, including wholesaling, flipping, and lending.

Wholesaling

Wholesaling is when an investor finds motivated or distressed homeowners that are looking to sell their homes and pairs them up with a buyer that is looking to flip the property. When a wholesaler has a seller, they must lock them in under contract so they can’t go with another wholesaler or be put under a real estate agent. The reasoning behind this is that the wholesaler must be able to have rights to the home if they’re going to bring in an investor, and they must be able to lock in the price. The wholesaler is essentially the middle man between the seller and the buyer, but they do put a contract fee on top of the sales price. It’s important to know what’s a good value for the investor and what is a good price to put on it so that it doesn’t run outside the investors’ range.

Flipper

The real estate flipper is the most comment investor, the one who purchases a home with the intention of repairing or remodeling it so that they can turn it around and sell it for market price. The flipper may purchase directly from a seller or purchase from wholesaler inventory if the price is right. They must deal with the construction crew that handles the renovations, and they must be able to bring in money from a lender if they don’t have their own budget. This means that they have to know the accounting and finance well so as to bring a good deal to the lender and not put themselves in a hole should things go wrong with the market or remodeling.

Lender

The lender is someone who generally was once a flipper but has graduated into simply lending money to other flippers for interest. A lender is generally looking to promote deals based on their preference (a single family home, apartment complexes, RV parks, etc) and if the cost is appropriate based on the after repair value. In most cases, a lender is willing to participate as long as the purchase price is 70% of the market value once the remodeling is complete. This allows for remodeling costs, buffer for issues, and enough profit for both the flipper and the lender himself.

Getting Started

In order to get started with real estate investment, it’s important to attend local real estate events such as REIA groups, private company events like IRA or hard money lender events, or any functions that are related to real estate investment. There are many that happen on a monthly basis in most primary cities. This is where investors go to network, build relationships, learn, and find more deals. Building a network is the absolute most important thing to do when getting into real estate investing. Having a network can not only give you lead flow or buyers/lenders, but it can assist in other ways like JVs, getting new ideas, or even taking part in business that is not related to real estate. Reach out to a “sell my house” company if you’re looking to find some wholesalers that may have inventory for buyers.