Making money on property is nothing new, but making money fast is a concept that so many investors rarely get to enjoy. This is especially true if you are just starting out. That is because certain variables go against you. You don’t know how much you can afford, help-to-buy only works with new houses, the market refuses to budge in because of the political uncertainty, or you just can’t find a buyer.
Well, to flip the market trends on their head, we have pulled together a list of strategies that have succeeded in the past and will continue to work in the future. Yes, they require hard work and dedication, and yes you may make some mistakes along the way, but that doesn’t mean you can’t strike it big very quickly.
Buy. Renovate. Flip. Repeat.
This is one of the best low-risk ways that you can add value to a property and leave with a bunch more money than you put in to begin with. It is basically a way of making the property you have bought appreciate at supersonic speeds, as the experts at www.flippinghouses101.net will attest. All you are doing is buying and selling a property, but you are renovating it to some degree in between and that is where the added value comes from. How much success you enjoy is down to how under valued a property is, how much work needs doing and what the local market is doing.
Assisted Sales For The Smart
If you are smart about buying an undervalued property, you could turn a profit without having to go through any renovation trouble by playing the role of an assisted buyer. To get a deep understanding of this, we recommend you check out www.propertytribes.com but, basically, you take control of a property – buy or option – and then pass it onto an investor or a client after taking your slice of the equity. This requires having contacts and being in a good position whereby you are trusted and then finding a good deal, such as a property that is selling for 25% under the market value, before passing it on at 10% under the market value. That way your buyer or client is still getting a great deal, and you are making a healthy profit.
Options Are The Best Things In Life
A lot of buyers think that buying a property is the only avenue available when it comes to making money in this market. However, taking out an option on a property can allow you more flexibility and lower costs. Let’s say you come across a property where the buyer needs to make a quick sale for whatever reason. In fact, they are willing to give you the property for 60% of the perceived market value if you can close in ten days. That’s when your best bet is to get the seller to sign an option – including an agreement that locks other buyers out for the ten-day timeframe. Spend a little bringing the property up to scratch and then sell it on for less than the market value and you have turned a profit once again, and in a very small time frame too.
Note: Some of these tips are well suited to certain types of real estate markets, and less suited to others. Make sure you talk to a real estate agent before attempting these methods.