The Importance of Having an Investor Friendly Agent on Your Team
By: Kelly Smyth, Real Estate Investor and Agent
House flipping may sound like a fun idea and an easy way to make some money on your investment, but it is not as easy as it seems. First there is the purchase of the property, then the remodeling and the most important part- the resale, all in a short time and turning profit in the process. It is a bold move for someone who is not experienced in flipping homes or is not in the real estate business to take on.
Luckily, you do not have to do it all on your own. You want to find yourself an investor friendly real estate agent who has experience with house flipping themselves or has worked with clients that buy and sell homes to flip. An agent who has some experience will understand you are purchasing the property for the purpose of making a return on your investment.
An agent that has done themselves or worked with others who have, will understand the process and your intentions. A knowledgeable real estate agent will help you save time, money and any unforeseen problems along the way.
There are some major ways a knowledgeable real estate agent who has house flipping experience can help you in all three stages of the process. The initial purchase, the remodeling and the resale of your investment.
Real estate agents are there to help you:
1. Understand the local housing market and the current conditions. They can pull comparable homes in the area to see what the going rate is.
2. They can help find the right new buyers for your property.
3. Sometimes they can help determine remodeling projects and help you find reputable contractors.
4. Time your sale and set the right asking price. An agent who is comfortable with some serious negotiating.
5. A local agent to your property will help you decide if flipping is a smart investment in that town, area or neighborhood. You will know if you will be able to make a favorable return on your investment, if the market conditions in that area are selling or not selling.
Real estate markets are always changing. You want to find the right agent who will help guide you through the process.
First time home flippers underestimate the amount of work, time and money it takes to flip a house- and how much risk is involved in your investment. If you partner with the right real estate agent, flip-experienced agent, you’ll be in the best position to make sure your flip is a successful venture.
- Kelly Smyth