The Really REAL Real Estate Podcast
Business
Welcome back everyone to “The Really REAL Real Estate Podcast!”
When it comes to purchasing an investment property, there are a great number of details that need to be factored in before determining an offer price on a potential investment property, making the offer, and ultimately, purchasing and closing on that new investment property. For many new investors out there, they may not be aware of which details are the realtor’s responsibility to research and discover vs. which details are the responsibility of the investor to investigate. Today, we talk about which responsibilities are delegated to which party, so the investor has the highest potential of making the most profit on their new investment purchase.
TALKING POINTS (3-5):
- Introduction
- These bullet points primarily focus on buying a property to flip, but we’ll discuss after how these bullet points are true for potential rentals
- What is the realtor’s responsibility when helping an investor find a new investment property?
- Help find properties and show those properties to the investor
- Offer observations when touring the home; also, offer insights into which repairs/renovations would maximize the resale of the property after renovations
- Help investors determine an After-Repair Value (ARV) of the home
- Help to determine the closing costs on both sides of the transaction (buying the home and then reselling it at a later date)
- Help the investor write up the offer and handle the nuisances of closing on the home
- What is the investor’s responsibility when finding a new investment property?
- What repairs do I want to make?
- Can I handle the amount of work required for this property?
- How long will this property take me to repair? What will my holding costs be with this property?
- How much will these repairs cost?
- How much do I want to make in terms of profit on this property?
***These bullet points focus mainly on investors purchasing flips – take a few minutes to briefly discuss investors looking to buy residential/commercial properties to rent.***
- Final thoughts
- Buyers are becoming smarter and more aware when it comes to purchasing flips – they are seeing which renovation projects and flips are done correctly and which projects had the proverbially “lipstick on a pig” vibe to them!!!
#responsibility
#howmuchwillthiscost
#whodoeswhat
#lipstickonapig
JASON:
https://jasonwilcox.cbintouch.com/
https://www.zillow.com/profile/jasonwilcox1987/
https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber
https://www.facebook.com/jason.wilcox.186
https://twitter.com/jason_wilcox1
https://www.instagram.com/jason.wilcox1/
CONTACT INFORMATION:
JASON:
Cell Phone: 412-651-4638
Email: jason.wilcox@pittsburghmoves.com
Create your
podcast in
minutes
It is Free