Posted on: 26 April 2021
In today's most competitive real estate markets, investors are often willing to pay top dollar for the opportunity to flip properties. Architectural property selling consultants can help net larger windfalls by helping feed a flipping frenzy.
Here are some of the ways an architectural property selling consultant can help you profit on a property's flipping potential.
Banking on ROI
Smart investors are focused on their return on investment (ROI). In a seller's market, even if the property you're selling hasn't been recently renovated, profiting on the potential for renovation can be enticing enough.
- ROI Renovation Analysis: An architectural property consultant can conduct an ROI renovation analysis on your property. These types of reports normally break renovation projects into specific components and phases. For instance, the first section of the analysis might include structural upgrades like foundation repairs, new roofs, updated plumbing, and plumbing improvements. Each upgrade will include an estimated cost and an estimated ROI. After addressing structural renovations, an architectural property consultant can estimate the cost of adding square footage to the structure or making sizable changes to the property's layout. Showing investors how much of a return they can make on an investment can entice them to offer bids that exceed the current market value. This is particularly true in real estate markets where cash investors don't need to go through mortgage brokers to get deals done.
Creating a Relationship
An architectural property consultant can help buyers and sellers establish a mutually beneficial relationship. You can capitalize on this relationship to finalize a sale and/or start a bidding war.
- Creating a Continuum: Many property investors looking to flip properties are concerned as much about time as they are about costs. If a property investor is banking on making significant changes to the property before selling it, you can utilize time as a marketable commodity. For instance, you can hire an architectural property consultant who can begin drawing up renovation plans before the property is actually sold. If you're willing to subsidize some of the initial costs associated with retaining an architectural property consultant, you'll create good faith with potential buyers, while also giving them the chance to get their renovation projects planned before the sale is finalized.
- Bidding Wars: In the tightest real estate markets, you can spark a bidding war by providing sketches and blueprints of potential renovation projects to buyers. These sketches can be displayed online, on social media, and outside the property to increase interest in a home and solicit more bids.
Contact an architectural property selling consultant for more information.Share