The Greatest Hidden Secret in Rehabbing
Some things in the business of rehabbing are pretty clear-cut. Foreclosures are generally open for consideration when a real estate investor is looking for deals. If someone contacts a real estate investor through the investor’s website, it’s safe to say that a follow-up will occur. So what is something that you can do that will give you a secret edge in the real estate industry?
The greatest hidden secret in rehabbing is to find people who will sell their property without the seller even knowing that they want to sell. That may sound complicated, and in a lot of ways it’s no easy task, but there is a great strategy for finding these seemingly elusive sellers. This excellent technique requires real estate investors to find out-of-state owners.
So what makes out-of-state owners so great?
- Out-of-state owners don’t know the market of the area their properties are in as well as people who live directly in that area.
- Out-of-state owners generally aren’t as attached to their properties as much as people who live in their homes.
- Out-of-state owners don’t usually know the condition of their properties accurately.
These make some great reasons for looking specifically for properties that are either vacant or being used as rentals by out-of-state owners. It’s easy to misconstrue this as taking advantage of these people, but due to their lack of interest in their own property, it usually represents a clear sign that the owners don’t want to keep the property anymore anyways: They just didn’t know it! So, I encourage anyone trying to get into residential redevelopment to look into out-of-state owned properties. If you’d like more information on great real estate strategies, feel free to contact us anytime at: email@example.com