6. BUY A VACATION HOME
A well-purchased vacation home gives you an inexpensive place to land periodically throughout the year for some rest and relaxation, but it also can generate substantial rental revenue when you’re not using it. In hot vacation spots, demand is high for affordable alternatives to hotels and motels — especially from vacationers planning to stay a week or more. Filling the property with renters during just a few months of the year can often produce more than enough revenue to cover your annual property expenses.
7. BUY WITH CASH
Cash buyers are king in a real estate market where tight lending guidelines dominate and prospective buyers who use financing are restricted in their ability to make quick and flexible offers. Cash buyers appeal to banks and other sellers because their offers can be closed quickly and without the contingency of final loan approval. Even if you can’t make a full cash offer, you may consider including a statement in your offer that you are willing to pay any difference between your offer price and the assessed value of the property in cash. That way, the seller will not reject your offer just because the assessed value used to approve your loan is less than the amount you’re willing to offer for the property.
(The content of this message is taken from RealtyTrac Agent Advocate; Volume 6 Issue 6.)
Randolph County has its share of both short sales and REO properties (foreclosures) available right now. If you are interested in finding out more about properties for sale in the Asheboro and Randolph County areas, call or email me today.
I make offers for you on HUD properties for sale in NC….
For tactics 1 & 2, click here: 10 Real Estate Investing Tactics (1 & 2 of 10)
For tactics 3-5, click here: 10 Real Estate Investing Tactics (3-5)
Waynette Hoover Araj
RE/MAX Central Realty
231 S. Fayetteville St
Asheboro, NC 27203