Hustle, Grind, Hustle, Grind
As a Real Estate Investor you know that the business can be tiring, and doldrum when you are grinding out your deals. This is part of the business and why I always say;
“If it was easy everyone would do it”
That is just not the case and as an investor you know that, but you have been working and you got that deal, you put in the work and it is on the market! Nice job, excellent work on getting a product to market.
But it has been 4 weeks and no offers!
What could possibly be wrong with my flip? Why is the market not taking it, is it some twist of fate?
To be Frank, It is YOUR FLIP not the market!
Sorry to say so but that is likely the issue, and to help you dive into what is wrong and how you could possibly correct, or move on as quickly as possible here are 4 quick Tips.
How about them Apples!
Take your property and look at it from an outside perspective. What does your property represent in the surrounding comps? How does it fair from an outside perception? It is very important to remember that the house is being viewed not as a masterpiece but as a home in a neighborhood. The buyers do not know how bad it was or how far it has come. They are only comparing it to like kind properties in the surrounding area.
Cheap Cheap Cheap
Are the birds around your home real loud? Does your home scream Cheap Cheap Cheap when buyers come through? This is one of the most common errors for flippers. Using materials or craftsmanship that is only on par with budget but not with what a home owner would want. Do you have poor grout lines, uneven tile, mis matched finish material or the worst lawn in the area? These are all detractors for buyer when walking into your home
Schizophrenia of Home Design
Is your design continuous through the whole home? Home buyers are looking for something they can move into right now that will work for them immediately if they are paying top dollar. If your property is not uniform throughout they may feel the need to replace items or make changes required to achieve the style they are looking for. These changes are money in there minds, and in real life, and will decrease the value they are willing to pay to your for your hard earned property. If your property is schizophrenic, fix it or accept the lower price
You bought a property in August off of July Comps but are selling it in December… What could possibly be hurting your deal… THE MARKET, in the winter months most markets slow down, resulting in a reduction of about 2-5%. This can be a major killer on value on a property that has run over budget. This all in mind, some times losses must be cut and the time to move on is sooner than later.
So What is the Morale of the Story
The morale of the story folks is that if you aren’t making good decisions all the way through the process of investing, you can lose money or make very little. This means you must; Purchase Right, Design Right, Market Right, Finance Right, and Contract Right. Now that seems like a lot to do, doesn’t it? Well it isn’t and it truly is what separates big profits from big losses. Every deal that goes sideways have defining moments where decisions were missed or errors were made. The same goes for a successful project as well.
Don’t Know How to do Everything Right?
Well, then you need some help don’t you? If you want to start going on “Investing Right” path get your FREE MEMBERSHIP to Better Tomorrow Group HERE . There are free lessons for you to start your path to success. If you want to REALLY DIG IN then you can join for $9 a month for VIP access and come and go as you please and learn as quick as you want. Yep, so for THIRTY CENTS you can learning how to invest RIGHT NOW from the comfort of your home.
Well, folks that is it for this week and don’t forget to join! We are looking for our next 1000 members, will you be one?
Andrew Thomas Greer
Andrew is an active investor, speaker, Realtor, serial entrepreneur, and educator in all that is Residential Real Estate. If you would like a FREE Membership to Better Tomorrow Group follow this LINK. If you would like to follow him on Social media you can find him on Instagram @bettertomorrowgroup, and Facebookathttps://www.facebook.com/bettertomorrowgroup/