Selling Real Estate SF

Image via Wikipedia

A very important member of your investment team, is your real estate broker . When you or your real estate agent locate a particular property investing opportunity that you are interested in , your real estate agent will provide you with comparable properties other properties to compare with .

Your realtor will use the Multi Listing Service (MLS) listings to compare similar properties sold in the six to twelve months . Plainly , the nearer the comparable properties date is to the present time , it will show a more precise reflection of prices that are current

When doing a comparable, lay the information out in front of you and then figure out what amenities one property has that the other properties don’t. Next add or deduct the value of the amenity or lack of it.

For an example , we have two properties that are very similar. Both properties are the exact same in every way, except, one has a two -car garage and the other doesn’t have a garage .

The property, with the garage, sold six weeks earlier for $85,000. The other property, without the garage, has an asking price of $80,000. We now know that a two -car garage would give the property an extra value of $5,000 and that the property, without the garage, is priced accurately.

Always get a home inspection done or a very bona fide handyman to go over the property and get a preliminary title report as part of you evaluating deals.

have a property analysis financial statement . Once you have established the fair market value of the property, multiply that amount by 70%, then subtract your estimated costs for repairs. Your number would be the price that you would offer. A 20% profit or more should be your goal

To calculate the offer price on the $80,000 property (fair market value):

$80,000 x 70% = $56,000

Now, we will say that the repairs are $6000, subtract that amount from the $80,000. For this property, our offer would be $56,000-$6,000=$50,000. If you put in an offer of $50,000, your profit would be
$30,000. Not a bad profit .

A realtor will be able to provide this advantage and many others . So, find one that you like, trust and is experienced in investment properties when you are planning on buying Canadian real estate investment properties.

Related articles

• Should I Invest In A Condo, Townhome, Or Single Family Home? (barryhillrealtors.com)
• Can You Sell A Home Without A Realtor? (sellingrealestatesf.com)
• How To Get A Fair Deal In Buying A Real Estate (sfrealestatetoday.com)
• Pricing Your FSBO Property Right (sfrealestatetoday.com)
• Looking to buy your first home (jackbarryrealtors.com)
• You Can Make Money In Real Estate If You Choose The Right Home (barryhillrealtors.com)
• Don’t Ignore Purchasing Commercial Real Estate — Now! (jackbarryrealtors.com)
• Condo/Townhome Vs. Single Family Homes (sfrealestatetoday.com)
• Beautiful Lake Tahoe Real Estate (sfrealestatetoday.com)
• Property Investment Companies – Long Term Prosperity (sfrealestatetoday.com)
• Real Estate Investing for the First Timer (understandingecommerce.com)
• A Real Estate Investor Needs To Understand His Target Market (barryhillrealtors.com)
• How Does Flat Fee MLS Work? (jackbarryrealtors.com)

Related posts:

1. Can You Sell A Home Without A Realtor?
2. New Developments Could Affect The MLS System
3. Purchasing the Best Condo
4. Home Staging Strategies For Selling Your Home
5. Luxury Home Buying Guide