Are you thinking about investing in property as a business venture? If so, then there’s always going to be a lot to think about. If you don’t take the right steps, then property investments can quickly start to feel like a disaster. 

 

 

Find The Right Property 

 

The first stage will always be finding the perfect property for your investment. You have a few choices here. For instance, you could invest in a brand new building or purchase a fixer upper. Fixer uppers and older properties are going to be more suitable for a restricted investment budget. However, they also come with more risk. As such, you will need to complete extensive research into both the area and the building itself to find the right property.

 

Once you have found the ideal property, you’ll then need to purchase it for the right price. This is often about getting the original seller to their floor selling price. As you might expect, this is the lowest price that they will agree to sell. The best way to do this is to know as much as possible about the property so you can convince them that your offer is the right deal for them. It would also be helpful if you can provide a cash purchase offer, however that may not be possible depending on your financial situation. 

 

Of course, you should also think about your personal financial situation. Most people who invest in property will do so by taking out a business loan. For this to be an option, you’ll need the right credit history. If you have a history of not paying back your loans on time or you have maxed out your credit limit, you will need to repair your credit score before you can pursue this type of venture. 

 

Selling The Property On

 

Once you have purchased a property, you then need to prepare to flip it or sell it on. This will include:

 

• Getting the home ready for sale
• Marketing it
• Choosing the right services 

 

Here are some key pointers. 

 

Think About Curb Appeal

First, you should always consider whether your property does have the right level of curb appeal. First impressions count in the world of property sales. If you don’t hit the right mark, then you are going to struggle to get a home the attention that it deserves. There are lots of steps that you can take to boost the curb appeal of your property. For instance, you may want to think about hiring a landscaper to ensure that the property exterior looks incredible. Or, you could complete key renovations on areas like the garage door or even the front entrance. 

 

Manage Your Costs 

 

Do keep an eye on the costs when you are selling a property. The main goal when selling a property will always be to make sure it sells for the highest possible price. This will mean that you can use your profits to invest in more properties in the future. The trick here is to work with a budget. While it may be tempting to complete a massive number of changes to a property, it’s not going to be worth it if you have to spend more than the building is worth. You also need to make sure that you don’t accidentally outprice people who would be interested in buying a property in the area.

Start Early

 

There’s no set amount of time when it comes to how long it takes to prepare to sell a property. However, generally speaking we recommend that you plan between three and six months. This will give you a period where you can prepare the home, complete the necessary research and ensure that you are troubleshooting any issues that you might encounter further down the road. It will also guarantee that your property is on sale for the entire investment season and help you catch the right amount of interest. 

 

Clean It Up & Eliminate The Clutter

 

If your property looks a mess, you shouldn’t be surprised when you don’t get the big offers that you hoped for. People are never going to offer huge amounts for your property if they are left with the impression that it hasn’t been cared for. That’s why you should make sure that you are giving it a thorough clean before you even think about putting it on sale. You may even want to think about getting professionals to complete the work for you. 

 

Next, you should consider eliminating the clutter around your property. Ideally, you should aim to make your house look like a show property. While a property can feel lived in, it also needs to look as close to picture perfect as possible. If you are struggling to find a place for the extra items, we recommend you consider using a storage unit. The 10×20 storage unit size is perfect for your needs. Furthermore, once you expand your business venture, you can also use it for the additional furniture and items that will be required for property staging. This is by far one of the best ways to guarantee that a property is presentable and creates the right impact. 

 

Find The USP

 

At its core a home is a product. This means that you need to find the right way to market it if you want it to sell for the right price. One of the ways to do this is by marketing the unique selling point of a home. To do that, you need to know what it is. There are lots of different examples of USPs for properties. For instance, it could be a recent change that you have made to your property. Or, it might be an environmental factor like how much sun the yard gets through the summer. The trick here is understanding what makes your property different and more appealing compared to the rest on a street or others that might be on sale in the local area. 

 

Hire A Pro Photographer

 

Next, you should consider hiring a professional photographer. Nine times out of ten, the first impression buyers receive of a property will be online. They will view pictures of your property before deciding whether or not to arrange a viewing. This can be the difference between a bidding war for a house and no bites for months. That’s why it’s worth paying a little extra for the services of the best property photographer. They will help guarantee that your property does gain the right attention. 

 

Find The Best Estate Agent 

 

 

Finally, whether or not your property sale is successful will always depend on if you can find the right estate agent. Not all estate agents are equal. Contrary to what you may have heard, selling a property isn’t easy. It requires a certain level of skill and the right network as well as a strong marketing strategy. That’s why you should always shop around to find an estate agent with the right reviews and a strong history of delivering fantastic results to clients. 

 

Get Started 

 

We hope this helps you understand everything that you need to consider when you are selling your property. Remember, selling a home is always going to be the first step towards becoming a professional real estate investor. If you can sell one, then there’s nothing stopping you from creating a portfolio of properties. The trick is to treat this like a true business venture and manage everything from your budget to the services you use carefully.