There are thousand and one ways to invest your hard-earned money. But there is only one investment that can give you huge profits for a minimal capital – buying repo homes, fixing, and reselling them.
Make your clients understand home inspection – some buyers think that they can back out from the contract if a Home Buyers Inspection finds that the faucet is not working well. This is not always the case. They have to know what they will lose if they back out from the contract. You have to make them understand why a home inspection is made and how it can benefit them.
In the real estate market, bank owned homes are preferred by almost all investors because they do not need a big amount to buy one. Plus, they can expect huge profits despite the minimal amount required for investing in repo homes.
Complete your Scope of Work and be as specific as possible – always better to overestimate the under. In our experience it home inspector will always cost more than you expect! So estimate higher and you will not be surprised at the end.
If you’re considering the short sale route, be aware of a few things before you embark on what may be a long journey. First, short sales can take up to ten months to close from the date that the contract is ratified. And even to get the contract ratified, it may take up to a month to hear back from the bank from the time that you make your initial offer. So, if you already live in the Charleston area and have no real time frame for buying, short sales may be a good route to consider. But, if you’re relocating to the area, or if you need to time the sale of your current Home Buyers Inspection with the purchase of the next, be wary of short sales.
Never hire an Inspector solely on the recommendation of your Real Estate Agent. While you may think that your agent hung the moon, they could be pushing you to use a “wink and nod” inspector, or as we in the business call them, “Drive by Inspectors.” They grab your check as the drive by the home their suppose to be inspecting. These types of inspectors “don’t rock the boat” or are not “deal killers”.
In order to avoid having problems when you purchase a house, make sure that you know what you are buying. Check the house that you can afford. You can ask a sales agent to help you find the right house however, do not forget to check its environment and the house itself before you close the deal.