Why This Market is Perfect for Buying and Selling Wholesale Houses?
Real estate market’s like this one come once in a few lifetimes. The conditions that create such a unique time are the perfect storm of economic and market unfortunate events. Prices change dramatically and residential inventory becomes abundant. This type of recipe has the ingredients to creat what’s called a “buyers market”.
What is a Wholesale Property?
Wholesale properties are some of the most popular choices when it comes to investing. The price of wholesale properties are usually 20% to 60% below the average market value. Some are in need of repair while others are in move-in condition. These types of properties are one of the best investments this day and age due to the desperation and anxiousness the market’s created.
Why Wholesale Properties are Now in High Demand
As I said in the beginning of this article, market conditions have changed. Times like this allow many to themselves in above average situations. Investors are much different from your traditional agents. Instead of paying for closing costs, real estate agent fees and possible costs of repairs, real estate investors usually buy properties as-is and are able to pay you in full.
Why Homeowners Should Wholesale Their Homes
Wholesalers don’t care what your situation is when it comes to purchasing your home. They see them as golden opportunities to secure another property to make a profit from. This is an advantage for homeowners who cannot or chose not to sell their home the traditional way. Many reasons arise as to why homeowners are put in the positions to sell and sell quickly. Some of those reasons included:
- Simply want to sell quickly
- Moving out of town, state or country
- More owed on the home than it’s worth
- Cannot afford to make repairs
- Unwanted inherited property
How Wholesalers are Changing the face of Real Estate
Wholesalers are a form of investors. They look for homes to buy at below market values and turn around and sell them for a profit of their own. They’re able to do this due to the list of investors and buyers that they’re able to turn to once they’ve secured a wholesale property. This is how they’re able to give you a time frame of sell that traditional real estate agents usually can’t. Because the bottom has dropped out of the real estate market, tons of wholesalers see it as the perfect time to stock pile their inventory and make great profits.
Buying and selling wholesale properties has kept the real estate industry alive. After the devastating downfall of the real estate marketing in 2007-08, the way of buying and selling homes took a dramatic turn and has taken the traditional real estate sale out of the equation.