This is the next installment of a 7 part series exploring ideas of why real estate is such a good investment. The focus will be on single family and multifamily real estate, but a good idea is a good idea, enjoy.
Alas, today we will be discussing the main thing people think about when they think about real estate investing, selling the asset high after buying low.
The biggest advantage to selling real estate is the value added you can do yourself. There is no requirement to hire anyone to do any repairs on the property, as real estate is sold as is. You can do your own marketing, your own negotiating, there does not have to be anyone between you and the market unless you choose for there to be. You choose your partners at terms you both agree with. With that great power, comes great responsibility.
Though you can do it yourself, it is more advisable to partner with those who do it every day, rather than every so often. Consider that a real estate transaction employs about 30 people (partial list, realtor, realtor office admin, handyman, home inspector, NHD report, title rep, title officer, appraiser, loan officer, loan processor, loan underwriter, escrow officer, escrow assistant, runner, recording office, et al), each of which is integral to selling a house.
To 'repair a house' is about 44 C-License 'specialties' licensed by the state of California, to keep an update list those who are reputable to price well, do good work and have integrity for every single profession is a job in itself.
I AM NOT 'shilling' for a real estate agent, I am merely thinking through the decision-making process of how one should approach effectively maximizing their sale price with the least amount of hassle. It really comes down to one salesperson and one 'doer' (contractor) that knows how to get the answers rather than having the answers. All the effort should be to determine whether this person is competent, honest and charges fair pricing, everything else is not nearly as important.
As a corollary, seller financing (carrying paper) is a thing, I would prefer to skip it as it has been talked out in many other places.
Feel free to #askGene about real estate, it is a little bit of a focused topic for him.
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