Hey BFFs, not best friends forever, rather "Buy, Fix and Flippers"! Calling all buyers! Hey you from up North COME ON DOWN! Hey you from the West COME on DOWN! Hey you from out East COME ON DOWN! Hey you from down South, COME ON DOWN! Hey you, this is Joe from the lower 48, my Alaska friends come on down and lastly my Hawaii friends an Aloha from the Mainland. You are hearing these word because it is the popular phrase from a popular Game show - I guess I need to give a shout out to Bob Barker, as well! You are hearing these words today, if the Price is Right!
Buyers will buy when sellers have the right price on a property. Remember a home is only worth what someone else is willing to pay for it. A home can sit and sit and sit and sit, until the seller either make more improvements which they usually never ever do or drop the price. Once the price hits THE PRICE people come out of the wood work to make an offer on the home. Most investors do not realize a simple principle: make the aggressive offer before other do and then you do not have a bidding war to get the home.
I often share my pearls of wisdom with others. I refer to my pearls of wisdom as my "Golden Nuggets" of real estate wisdom. I hope you enjoy and feel free to add me to this Blog string with more ideas to fix, and resell your real estate deals.
JOE'S GOLDEN NUGGET #1: Make Aggressive Offers before your competition
Make the aggressive offer before other buyers and then you do not have a bidding war to get the property. You are looking for motivated sellers that might be flexible on their price. The seller has made at least 2 or more price reductions. Other things that can be great buzz words to look for is vacant, back on market, as-is, seller to do no repairs, cash only sale, estate sale, probate sale, etc.
JOE'S GOLDEN NUGGET #2: Buzz words to find motivated sellers
Buzz words to find motivated sellers include: multiple price reductions, vacant, back on market, as-is, seller to do no repairs, cash only sale, estate sale, probate sale, bank owned, REO, foreclosure, Fannie Mae, Home Path, Freddie Mac, Home Steps, HUD, etc.
Attention all buy, fix and flippers. You are my B.F.F.s! (buy, fix and flips) Do you want to sell that home to a retail buyer even faster? Here are a few tips we have used to make the homes sell quicker faster and in some cases for more money than our competition.
JOE'S GOLDEN NUGGET # 3: All new appliances!
I always include all the appliances with home we are buying to fix and flip. This includes a refrigerator, stove, microwave, dishwasher, washer and dryer. Believe it or not you can get this entire appliance package for under $2,000 to $2,500. Brand new and still in the box!
Most of the decision makers are the women and kitchens and bathrooms help sell the home. New appliances can push your buyer over the edge to make an over the asking price offer. Remember almost new is not new. Do you want a brand new car or an almost new car? Both are nice but new always feels different.
JOE'S GOLDEN NUGGET, HECK THIS IS A BOULDER!!! # 4: Do not forget about the man!
This is my all time favorite golden boulder that I have used over and over. I have come up with this idea and have been using it for years. I will share it with you but do not forget where you heard this idea from. This really works and everyone that hears it smiles and realizes the potential. Provide a FREE flat screen tv set already installed on the wall in the living room. These tvs look great above a fireplace or on an empty wall. Walmart has 32 inch flat screen televisions sets for under $250 and I have purchased a 60 inch at Comp USA in Florida for under $500. The men will love this and they usually will be in agreement with their wife about making an offer on a home. To really get on their good side, you can also provide a gas grill for cooking out with patio furniture. These freebies that you provide can be considered an ethical bribe for Retail Buyers to buy your house!
I was in a Walmart a few months ago and saw this flat screen Vizio flat screen television for only $248. Walmart also has a flat screen 32 inch Sony Television for only $298. Wow, this is a bff must!!! Folks, remember when you heard this first :)
If you provide some goodies like this with a totally rehabbed home, your home will sell quicker and faster than your competition. This will put more dollars in your pocket and golden nuggets in your bag.
Go make it agreat day. Good luck. Believe and Achieve! - Joe Jurek, CPA
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