In Kenny Rogers’ song, the “Gambler,” he says, “Know when to hold ’em, know when to fold ’em.” Even though he is singing about gambling, these words are so profound for real estate investors whose primary investment strategy is to find, fix and sell houses for a profit.
Apart from the upfront cost, you still need to know the details of the closing costs for the home. These will include the fees charged by your lender, homeowner association fees, title fees, settlement fees and so on. Having a rough estimate of these fees will help you in making the right decision for your ideal home.
Your local market. Even as home prices have tumbled in a lot of markets, there are still some local markets where buyers are competing for homes. This is particularly true for low to mid-priced homes in areas that appeal to first-time buyers. Your Spring Hill Realtor can help you evaluate the possibilty of facing competing offers or a seller who wants to hold out for the best offer. In a market like that, you may need to offer close to the asking price.
Job stability is an important component in determining eligibility for a loan. Most banks want to see two full years of employment with the same company. They usually want copies of the last two months of pay stubs as well as two months of bank statements. Once again if it is a joint application, they will want both people to have similar work histories.
Before you decide how much to sell for, compare your home to similar homes in the area. These homes should be as close to your property as you can come when it comes to size, amenities and condition. This is information you can probably find by searching the internet, free real estate guides and newspapers in your area.
In this step, it is very important not to let your emotions tell you that the house just needs “a little bit more” rehab money to get it done right. You just cannot rely upon your emotions. Consequently, an automatic formula or process will really help you to decide if and when you should “fold them” and move on to next house.
Where to find targeted buyers? First place to look is on the internet and try to see if any member of environmental groups might be interested in it. Or members of these groups. They are the perfect candidates. They already know the basics of solar power and if you are selling them you should emphasize on the fact that how much they can lower their carbon footprint.