There is a lot of money in buying a dilapidated property. A smart buyer will find a property that is well below market value, make repairs, then sell it for a quick profit. Of course, this is easier said than done. However, often the most overlooked element to success is the realtor. If you are thinking about buying your first house to flip, the following are just a few reasons you need a good realtor.
They can provide good input on restoration
When you buy a dilapidated property, there will always be a wide range of repairs and remodeling work that can be done. Certainly, there is a minimum amount of work, but the upper range of money you can spend is often quite high. A realtor will be familiar with other properties in the neighborhood, so they will be able to tell you how much value a particular improvement will yield when selling the property. They understand how much a house will sell for and not what you think you can get for it. This is valuable information that can save you money when you are planning the renovation of the house.
They can find buyers and sellers
Naturally, they can find buyers for your home. But they can find buyers faster than you can. They have a network of potential buyers, not just locally, but out of town as well. A realtor knows how to do a walk through with a buyer, and accentuate all the positives to a buyer who is already looking at homes in the price range you are selling your house for. In addition to selling, they can help you find a new property to flip. You're helping them by providing a buyer for a slow-moving house on the market, and you benefit by not spending a lot of time looking for a new property to restore or upgrade.
They can field questions you don't want to hear
One of the great things about a real estate agent is that they are the buffer between buyer and seller. Potential problems are solved that the buyer or seller never know about because the realtor took care of the issue. This is especially important when you are flipping houses. There are buyers who will want to know how much you bought the house for and how much you put into it. Some buyers will be concerned about whether there have been cosmetic improvements to cover up one or more major issues. A realtor is more skilled to handle these questions from buyers than you are.
There are a lot of skills you need to buy a house with many needed repairs, fix it up, and sell it for a profit. But when doing this, a good realtor is worth their weight in gold. Don't ignore finding a good one.
For more information, reach out to a person like Vivienne Yamamoto: REMAX GOLD.