Real estate has been and remains the most robust investment and can be the key to your financial freedom if approached correctly. Nick Vertucci notes that while most people are willing to succeed in real estate, they lack the know-how. And that what Nick Vertucci NV Real Estate Academy offers.
In the system crafted by Nick Vertucci, the technique of flipping homes comes up. Flipping entails buying a house or property with the goal of selling it at a profit. Also, it might involve buying a home, renovating and then selling for a profit. The following are Nick’s tactics to investing in single family homes and making a fortune out of it.
- Identify Motivated Homeowners Willing to Sell Below the Market Value
A smart investor understands like Nick Vertucci, how the minds of homeowners work. When a homeowner needs cash badly, he/she is willing to sell below the market value and will consider the purchase price only and disregard the market value.
Your responsibility as a real investor is to identify the needy investors who have no choice but to sell. For instance, follow closely property owners who’ve been fired, or have had job transfers. Also, direct your focus on homeowners who divorced recently, and those who can’t bear the weight of medical bills.
- Pose As a Friend Willing to Offer Help in Tough Times
For any homeowner to decide to sell their property, the most likely reason is a financial strain. As an investor, you need to make the seller understand that you’re there to offer a solution. Yes, by buying the property, you’ll be saving the property owner the embarrassment and massive losses that come with auctions.
Nick Vertucci can offer some financial help as they get things in order. Besides, you can agree to pay their mortgages or arrange for the leasing of the property. Any cash-strapped homeowner will perceive you as a friend, and they won’t turn down your offers.
- Be the first to Identify Motivated Sellers
For over seven decades, the door to door prospecting method has stood the test of time and is still effective to date. In this techniques, you identify motivated seller who must sell by approaching them in person.
Since most investors find it hard to walk from one home to another, there’s another practical approach. Watch out for any announced foreclosures put on public notices. Immediately after the homeowner receives the notice of a possible loss of their home, it motivates them to sell. Divorce, bankruptcy, and probate are more opportunities you might want to look out for.
Two simple ways to reach prospects include calling them through the contacts given under their name and sending a postcard detailing your interest in buying their property.
- Conduct Critical Analysis Before Making Any Purchases
You’re in business, and so you should strive to generate the maximum profit possible. If uncertain about the profitability of a real estate deal, quit and rethink the idea. If you happen to hold a property on a long-term basis, make sure that the monthly income exceeds the monthly mortgage by far. Alternatively, you can do some renovations to increase the value of the property and sell it at a profit. https://www.facebook.com/nvrealestateacademy/