|
Using the
seller financing
option when planning to sell a property is the perfect scenario for
Rehabbers. The goal of Rehabbers is to acquire a piece of property
and remodel it to make the necessary changes to improve its value.
The most important part for Rehabbers though is to sell the property
quickly. Why? Because the key to such business is not so
much the current project as it is the next project. Rehabbers are
forward looking and they are constantly planning ahead for their
next project. Let me give you an example of two different
scenarios…..
Scenario I : A Rehabber, we’ll call him
John, decides to acquire 2 homes at the same time, hoping to improve
them and have them sold and closed within the next 6 months. He
decides not to opt to provide a seller financing option and goes in
search of buyers. Several weeks have passed by and John has had
little interest in his homes. After many months he finds a suitable
buyer for one of his homes and agrees on price. However, the
buyer is having problems securing a conventional loan (this could
happen for any number of reasons). The buyer asks John about the
possibilities of seller financing. John doesn’t know much about the process, so he declines and
has to go search for another buyer. John is stuck with each
property and cannot move on to his next project in the time that he
had hoped. Scenario II : A different Rehabber, we’ll call
him Joe, decides to acquire 2 homes at the same time as well. He
takes the same approach, hoping to make necessary renovations and
sell the properties within 6 months. However, Joe advertises a
seller financing option for his properties. He immediately gets
several inquiries and is able to agree on prices for the properties
within mere weeks after they were put on the market. He
creates
a
real estate note with terms that the buyers will meet and
he closes on the homes. Joe, having known before closing
exactly how much he would receive for each of his real estate notes,
then sells the notes immediately and makes a nice profit. He is on
to his next projects immediately.
As
you can see, the second option is both more practical and
profitable. Our goal is to establish long-term
relationships with Rehabbers who want our help in selling their
properties via
simultaneous closings.
Give us a call at
1-877-860-0086 or E-mail us at info@therealestatenotebuyer.com |
