Finding The Best Rehab Properties For The Money
June 19, 2017
One of the most popular trends in real estate today is buying distressed properties, renovating or rehabilitating them and then selling them for a profit like the handyman in Sacramento. Since there is a multitude of distressed properties available and they typically cost very little, rehab properties can be a great investment. When choosing a property, it is important to understand what it will take to make the property worth selling.
It can help to work with a real estate agent, especially one who is an expert in REO properties. These are typically properties that are currently owned by a lender. Many are foreclosures which mean some have had their owners evicted. These can be a great property to rehab, but you must be sure the repairing any damage and drywall services won’t cost you more than the home is worth.
You can also check your local area for real estate investment groups. These groups usually meet for networking and educational opportunities. They may list available properties on their website or send out a monthly newsletter. Some even have a network of flippers who help them find properties.
Another potential partner is a wholesaler. These individuals look for properties to rehab, place contracts on them and then find a buyer who is willing to buy the property under the wholesaler’s original contract and pay the wholesaler a fee for the opportunity. This may not be the least expensive way to find a property, but it is probably the easiest.
You may also be able to find available properties online. Search for foreclosures, distressed properties, and short sales. These are the best types of properties for rehabilitating and flipping for a profit.
If you have available cash, you can use it to purchase investment properties and probably negotiate a better price. Most local governments publish lists of foreclosure sales.
These are all effective methods for finding rehab properties. Rehabilitating and selling houses for profit is a great investment strategy.