You flip houses and make substantial income from your labor. You know the two best houses to find for a good property flip are foreclosures and divorce sales.
But imagine how much more you could make if you knew how to sell people on the idea of selling their houses fast. You would find more diamonds in the rough then all your competitors who look only for opportunities on the already-foreclosed homes and the divorce sales.
So what are the secrets? How do you sell someone on selling their home fast?
There are actually 5 things you can look for. The key is to identify people in one of the following scenarios and speak to them from that perspective. If you convince someone to sell you a property based on one of the following situations, you will find good properties to flip that others weren't even aware of.
So let's explore the 5 situations together.
1. They Need Cash Fast
Sometimes, people find themselves in a bind and simply need to get a bulk of cash really fast. Multiple unfortunate events that arise unexpectedly could result in such a situation. In these cases, they may consider selling their house quickly if someone is making them a fast offer.
2. They're Tired of Being a Landlord
Perhaps they've been renting their house out to other people and it’s not all they imagined it would be. Having to hassle with tenants, repairs, and non-payments can become a drudgery. Sometimes, the work isn’t worth the pay. In these types of situations, they may consider some quick solutions to quickly get rid of those headaches. And someone with an offer may be a solution they will go for.
3. The House Was a Gifted or Willed Property
There are times when someone may end up with a house they didn’t expect to get. Someone gives it to them as part of a will or a gift. This could be a huge opportunity for them to sell quickly and get a load of extra cash that they otherwise weren’t anticipating. Quickly selling what someone gave them can pay off a huge medical bill, send a child to college, or even completely pay off the mortgage on their personal home. Either way, the benefits of getting out of a willed property and using the quick cash are numerous, and a shred flipper can benefit greatly from this opportunity.
4. They Need to Avoid Foreclosure
Foreclosures are the obvious market for ideal home flips. But if you can find foreclosures before they foreclose, you can get a good property that you could potential have lost to a competitor at an auction. Instead of losing all the equity people put into their property by having a bank foreclose on their home, many home owners are willing to sell quickly to someone with an offer.
5. It’s Time to Relocate
Sometimes, job transfers send people far away from where their currently live. Other times, family members encounter difficulties that require them to move closer to where they are to help them. The reasons as to why people sometimes have to relocate abound. However, the fact is that when this happens, people need to sell their homes quickly. In many cases, they will accept a reasonable offer simply to close the deal and move to where they need to be as soon as possible.
Therefore, if you want to find a good house to flip, you don't have to look only for foreclosures and divorce sales. Often times, people need a quite bulk of cash, they're fed up with the hassles of being a landlord, their house was a gifted or willed piece of property that they want to sell. Additionally, they may need to avoid foreclosure or even relocate. Whatever the reason, house flippers who consider these opportunities often find great properties to flip that their competitors weren't even aware of.
We would love for you to contact us about how we could help you with your house flipping business.
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