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Real estate agent welcoming young visitors of open house for sale
There is no chance for you to make money on your real estate investment if you do not sell your property, which means attracting potential buyers. Pricing the property accurately is vital but, without any marketing, it can be hard to sell at the desired price. Being a fix and flip investor, your priority is to sell the property as soon as possible and move on to the next one. Marketing is a great source of speeding up this process as you will attract a lot more buyers because of the enhanced reach. Below are some of the tips and tricks that can help you boost property sales.

Marketing for Real Estate

Snap Professional Photos

A picture can tell a story on its own and you can have your property speak for itself. Using your phone camera to take  photographs can turn out to be a bad option. Instead, purchase a digital camera or hire a professional photographer for the job. Being a fix and flip investor, your priority is to sell the property as soon as possible and nothing attracts a buyer more than a beautiful shot of their potential home or office. Ensure that the photos are clear and are taken on a bright, sunny day so that there are no shadows and viewers can see everything clearly. Because you have spent the time and money on this real estate investment, the pictures must be worthy of that energy.

Hiring an Agent

You will need to decide whether you are going to sell the property yourself or hire an agent to do the job for you. In the case that this is your first endeavor, it is better to seek the help of a professional as they are well aware of the marketing and selling aspects of a property. The agent may charge a certain fee but you will gain significant insights of how the process actually works. Assuming yourself as a fix and flip investor, get an agent on board who has a great reputation for successful marketing to other buyers. Without marketing, your investment will only entice a few offers.

Staging the Property

To appeal to the buyers and customers, you must find ways to enhance their interest. One way to do that is staging. Empty rooms tend to make the property look boring. Therefore, placing furniture and decorating the property allows the buyers to envision the feeling of living in the property and helps them to foresee the use of space efficiently. Use simple items such as paintings, lamps, plants, and rugs to offer an enchanting aura and warm vibe to the property. Staging your property will surely boost the chances of a sale. You can use the same decorative items for your next property as well, so it would be just a onetime investment, unless you choose to use a staging company.

Curb Appeal

Another crucial factor that can market the property for you is the curb appeal. Whenever a potential buyer is looking at the photos or visiting the premises, the curb appeal will make a difference. Doing some landscaping to the property by adding a garden with flowers or fixing the damages to the doors and walls can significantly influence the buyer to making a purchase decision. This is something which has no limits and you can add on as many things you want, depending on your budget. Fix and flip investors usually don’t focus much on the curb appeal, however, this is one thing that can really be improved upon. The more creativity you install into it, the better it is for your real estate marketing. 

Give a Detailed Description

Wherever you are listing the property, don’t include just the number of rooms or how spacious the property is. Instead, focus on the value and benefits associated with the property. Besides the photos, your description of the property will have a significant impact on a buyer’s decision. If they see value in your property, they will be more inclined to buy it without you having to make an extra effort.

Virtual Tour

With the advancement of technology, everything is at your convenience now. For fix and flip investors, this is a great asset as it saves them a lot of time. Physical tours have to be planned and scheduled in advance, besides the nuisance of traveling. Everything, from walking through the property to 360-degree panoramic views, is possible by a virtual tour. Your potential buyers will love it and so will you.

Social Media

You cannot really miss the importance of social media when talking about marketing for real estate. With a huge audience, social media platforms are the perfect place for uploading photographs, videos and descriptions of the property and anyone who is interested can view. This is a very effective, low-cost marketing solution for fix and flip investors who are looking to boost their sales.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

 

 

 

 

 

Red For Rent sign closeup against brick building
Rental properties and real estate investments are all about making smart decisions and thinking out of the box with the available resources at hand. It is a great outlay as no beginning is too trivial and no venture is too large. No matter what the scale of your resources is, the opportunities are limitless. There are many benefits associated with owning a rental property, therefore, don’t let the fear of failure stop you from laying the perfect platform for your future investments. You will make mistakes of course, but that is how you learn and grow as an investor.

Rental properties and real estate – start with single family homes

There are many forms of rental estates which include industrial buildings, multi-purpose homes, office buildings, residential housing and many others. All of these have different sizes and prices. However, for starting investment options, it is better to consider single-family homes, as they offer the most rent with the least distress. Also, there are few basic things that you must consider before buying any property if you want it to be a worthy investment.

Property Type

Before you start buying rental properties, specifically single family homes, you must consider living in it for a while. This means that it is a rental property from the very first day and most of the documentation for the property will already be taken care off.

Moreover, many crowdfunding forums have emerged which allow you to invest in any type of property you desire, with as little as $1000. Whether you want to invest in commercial real estate or a residential property, the crowd sourcing forums are a great way to start with minimum risk.

Pick a great location

A great location is key to the growth of any rental property. Any property that is close to major roads, universities, or public transport tend to have higher rental rates than others do. Do your research about other rental properties in the area you are interested in and you will know if the investment is worth it or not. Many people make the mistake of overestimating the worth of their properties, leading to vacancies. No one would rent a property that is higher than the market value unless you offer some extra perks.

Run the numbers

One of the most significant contemplations for real estate investors is to precisely estimate the rental income and the expenses associated with leasing or buying the property. If you are investing in more than one property, it’s important to treat each one as a separate business. Run the numbers individually for each property and estimate their rate of return.

1% rule

Remember that rental properties should pay you at least 1% of the total investment for it to bring positive cash flow into the business. However, this is not a hard and fast rule and many commercial properties pay you a higher rate of return than that.

Correctly estimate your expenses as well while running the numbers. Insurance and maintenance are two of the potential expenses. Real estate often goes through ups and downs and vacancies come with the deal. Therefore, you must always allow for losing at least one month of rental income to such unforeseen scenarios.

Don’t spend too much on renovations

Don’t spend too much on renovations as it will need maintenance anyway. Frankly, renter will not treat the house as their own so there is a large likelihood of damages and repairs that you will need to make. Set out some minimum standards and always meet them but don’t go over them. You can also hire maintenance services for rental properties at an annual cost. They offer a warranty and the costs are spread out over the year, saving you the trouble of dealing with high maintenance costs.

General maintenance should be included in the rental agreement, however, major renovations of condos or townhouses should be done for a certain fee.

Appreciation market or high rentals

This is a critical decision you have to make while choosing a real estate demographically. Some locations have a very good appreciation rate for properties but the rentals are average. Other properties pay you high rentals but do not appreciate in land value over time. The right decision depends on many factors and your preference and long-term plans for the property.

Choose renters wisely

A final decision is to decide about managing the property. If you decide to manage it yourself, ask yourself whether you are prepared to stay on top of the tenants. With all of the benefits of owning rental properties, a troublesome occupant can make it really hard for you to manage it. Also, you should be prepared to deal with a variety of customers. Some will pay late and others will make unnecessary noise. If you are prepared to deal with these situations, get into real estate renting.  If not, it may not be for you.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.