**DON'T PANIC** IT'S SUPER EASY TO SELL YOUR HOUSE! (Real-Estate Crash?)

TL;DR

Investors are selling properties before completing renovations, allowing for faster turnaround and potential savings on holding costs.

Transcript

so what's a new strategy that current investors are using to acquire properties in this hot market what's going on team it's ricky with techweb solutions i have nick palladino here and we have a crazy story for you on how we actually had this property pretty much under contract to sell before we actually even finish the renovations but first i want... Read More

Key Insights

• 🥺 Using social media platforms, such as Instagram, can lead to opportunities for finding deals and partnerships.
• 💨 Selling properties before completing renovations can result in faster sales and potentially lower holding costs.
• ✋ There is a trade-off between accepting an offer before completing renovations and potentially missing out on higher offers from bidding wars.
• 👻 The strategy of selling before renovations can allow investors to reinvest capital more quickly into other properties.
• 💨 Real estate investors are getting creative in finding new ways to acquire properties in a competitive market.
• 🧑‍🏭 The speed of the sale can depend on various factors, such as location and market demand.
• 🤝 Offering finder's fees or commissions for deals can incentivize individuals to bring potential sellers and buyers together.
• ❤️‍🩹 The video creators highlight the importance of ending the year on a profitable note and encourage viewers to reach out if they have deals or are interested in investing.

Questions & Answers

Q: How did Ricky and Nick find the deal for the property?

They found the deal through a follower on Instagram, Ramiro, who sent them the property information and earned a finder's fee.

Q: What kind of renovations did they do on the property?

Ricky and Nick removed a wall in the kitchen, did new flooring and paint, redid the bathrooms, added granite countertops, and updated the hardware.

Q: What are the pros and cons of selling before completing renovations?

The pros include faster turnaround and potential savings on holding costs, while the cons include potentially missing out on higher offers through bidding wars.

Q: Are other real estate investors experiencing similar situations?

Ricky and Nick pose this question to their audience, asking if others have encountered sellers receiving offers before properties are publicly listed.

Summary & Key Takeaways

• A follower on Instagram, Ramiro, found a deal on a two-bedroom condo in Phoenix and sold it to the video creators, Ricky and Nick, who paid him a finder's fee.

• The property was purchased before renovations began, and after spending $25,000 on renovations, it was listed and sold within three to four days.

• Selling properties before completing renovations allows for quicker turnaround and potential savings on holding costs.