Developing Your Own Purchase Strategies


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As you venture further into real estate investment, you will discover that certain situations need more than the standard or traditional routine or solution. Many times, these situations require a little more creativity. It is quite all right for you to develop your own solutions to some of real estate investment’s problems, like purchasing properties.

 

One possible solution to the lack of funds in purchasing properties would be a partnership. Although it sounds strange, a partnership between you and the seller of the property is the perfect solution. Sellers want money and to be able to be rid of their property. While you can’t afford to pay them outright for their property and fix it up, you can turn them into partnering investors.

 

As a partnering investor, the seller receives a partial payment for their property. In turn, they add your name onto the title or trust so you have some legal rights to the property. In return,  they receive a percentage of the profit from the property. Once the property rents, you are reimbursed expenses  first. Then, any remaining amount is split 50/50 with the seller.

 

Your Role

After the partnership is formed, you are the one responsible for cleaning and preparing the property for rental or leasing. Then, you must advertise, screen tenants, choose tenants, and manage the properties. As you choose tenants, look for long term ones or those that desire a lease-to-own relationship. You will set the terms and interest rates of the loans used, and that’s where your partnership will make its profit.

 

Requirements:

Make sure the property is one that is in decent condition and very little work will need to be done to it.

Do your due diligence on the property before making any offers or partnerships. You never know what will show up..

Make sure the seller is one that really is interested in the money but does not have an immediate need for the full amount. Also, the seller has to move out and stay out. You can’t fix the property up if they are there, and you can’t rent it either.

Make sure that there is a contract between the two parties. It should explain in detail what each party is responsible for. This includes handling of expenses, division of profits, and experience reimbursement.

 

A little creative problem solving like this will have your real estate business growing by leaps and bounds. For more information on real estate investment, call or visit us at Homevestorsfranchise.com. We are the nation’s number one home buying franchise with over 15 years experience buying and selling properties. We have an abundant assortment of real estate investment and real estate franchise opportunities to help you grow your business. Call or visit us today to see how we can help you real estate business grow.

 

 

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