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Marketing Strategies For Real Estate Investors
People are increasingly investing in real estate after the uncertainties of the stock market. Many real estate investors are new to this market and often make mistakes leading to losses. They need to plan strategies for investing in real estate. People invest in real estate for selling at a later stage for a handsome profit. For this they need to have a marketing strategy in place.
Buy At Bargain Prices; Many real estate investors have entered the business because they saw someone else do the same, and make oodles of money. This is a big mistake, as it may not always work for you. As you will be selling your property later, you need to make bargain purchases, where you pay only around 80% of the current market value. Not easy, but possible.
Buy foreclosure properties; buy properties that are off the beaten path; properties that people avoid due to some adverse aspect they have – such as a massive roof leak condemned by the board of health.
Foreclosed properties are always bargain buys, and you may even get them cheaper than 80% of the current market value.
Upgrade The Properties; By upgrading the properties, you add market value to them. A property condemned by the board of health due to a massive roof leak, with a market value of 0,000 could be bought for, say, 0,000.
You can upgrade the property by effecting roof repairs, which could cost about ,000. You can make a neat little profit, just by effecting little repairs, and easily selling for about 0,000, which is below the current market value.
Upgrading does not mean cosmetic changes. Cosmetic changes will not fetch you a high price, though you may have spent a bundle on it.
Flipping This is a very common strategy, but is risky at times. Some real estate investors, as a form of marketing strategy, buy and hold real estate properties for a short period and sell it at a profit. This is based on the assumption that the real estate prices will rise.
Flipping is not an easy way to make money, and you need to have enough cash flow, if you are not able to sell your property fast, and may have to hold on to it because of adverse real estate prices. Real estate investors, who are real flippers, combine the strategies of bargain buying and upgrading the properties to make decent profits.
Real estate investors must develop a marketing strategy for their properties. Depending alone on the tenet that all property prices always go up and never come down, may not be safe, as there are times of slump in the markets. Real estate prices do come down occasionally, and real estate investors should not believe in blind faith.
Alexander Gordon is a writer for www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at .95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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