The room was packed, full of smart entrepreneurs, fixer uppers, money lending professionals, and title agents. Everyone with one goal, to make money in real estate.
The opportunities are there.. with a little expert advice.
Here are some new things I learned:
Wholesaling homes? A way to make money with no money of your own. Yes, it’s true, and the meeting room was full of wholesalers. Basically, they match sellers who need to sell fast and get cash quick, in as little as 3 days, to a buyer. Sometimes a fix and flip buyer, sometimes someone just looking for a good deal. The wholesaler gets a fee for the match, and has to knock on a lot of doors.
Fixer uppers still around? It’s a competitive market for those looking to fix and flip. Homes in transitional neighborhoods can be good investments to fix and sell or to rent. Remember that what you see on tv is for entertainment value. Investors in fix and flip endeavors will tell you there are always unexpected costs so keep ample cash reserves, sign lien waivers with subs, and have several subs in each trade that you can call on as needed.
Money to invest? You don’t have to be a fix and flipper expert to make money, you can fund one. Let the experts find the investment property, come up with rehab numbers, and then do the repairs while you write the checks. You can see a large return on your investment, within a relatively short amount of time. But remember, it all comes down to the numbers. Make sure the experts have experience, and can prove it with past HUD statements, and before/after photos. And put your joint venture in writing.
Interested in learning more? Give us a call to talk about more ways to invest in real estate, and specifically, what can work for you. www.cowenpropertygroup.com