What is Selling Right Now? April 2012
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Slides from the April 2012 Build Realty Success Workshop. Includes 6 examples of before and after rehab projects completed by investors in Cincinnati.
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What is Selling Right Now? April 2012
- 122. Stand Out Thursda from the y May10t Competition. h
Editor's Notes
- TakeawaysThis is what’s NOT selling. This is the situation most buyers find themselves inTell story of bob and how we got this property (copper stolen, insurance, sibcy keeping money, etc.)The art of using a general contractorPros andClean DOES NOT EQUAL COMPELLING! Kept the boiler – many investors will opt to rip it outDon’t be afraid to tear down some wallsAdded a 4th bedroom – increased the value and marketability!
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- Tell about CascadeGreat area, what did people like or not like Complaints of value – some said it was worth 90-100kComplaints of a big rehabWhat is selling now? BEING BOUGHT BY INVESTORS WHO AREN’T JUST LOOKING FOR LIPSTICK JOBS.This investor came to us wanting a comprehensive plan. He had a certain amount of money and needed to get it out and back in a certain amount of time.Plan your work and work your plan – keep your eye on the ball (and not in a tree stand)See the job through! Just because you have an offer doesn’t mean the work is over!!
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- Tell paul’s storySometimes it pays to stick close to home!Do the job right (floor joists story)Drain water from the crawlDon’t forget the exterior stuff!!Dirty doesn’t always mean it’s a big rehab!Added an additional bedroom – great value addedGet up early (he got this at 7 or 8 am)
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- Investors balked because of septicHow many of you saw this one?Septics aren’t always scary – as long as it fits the neighborhoodCall dept of healthThis was the cadillac of septicsSometimes overimproving pays off…sometimes it doesn’t!Great curb appealQuality, quality, quality!!DON”T get too aggressive on price.Just because you spent more than you planned doesn’t mean the buyers will agree!
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- You may remember this couple from our past success stories. Sometimes everything that can go wrong, will go wrongMoldTermitesWood rotWater damagePipe busted inside slapThe market is what you make of itLesson to be learned: perserverenceQuality rehabs still trump seasonal market conditions!
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- Lessons: have a well thought out plan.Talk about first property – they never called usCan’t always rely on a realtor to find your dealsThe first deal they did with us, they got it ½ right, they bought the house but nothing elseEnded up with a fridge in the dining room because they were afraid to move wallsTurns out, all they needed was an effective plan!Talk about basementTalk about exterior patio/screened porchLook for the “little extra’s” (added square footage) that will make your house stand out (no other houses had those features)
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- You’ve got to get up earlyStay in your wheelhouse
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- You won’t want to miss next month’s workshop. It’s called “Stand Out from the Competition” and will be held Thursday, May 10th. *ADVANCE