The Simplest and Fastest Way to Buy Houses
In business, time is money. Never forget your real estate investments—no matter how big or small—are a business. Your goal is to make profits and maximize your return on investment (ROI) on any property you buy. One of your top priorities should be finding solutions that allow you to purchase investment properties as quickly as possible. You should be looking for the simplest and fastest way to buy houses.
Find the Best Home Buying Solution
As a real estate investor, there may be different ways you can make offers to potential home sellers. Not every transaction will be exactly the same. They may have different needs and priorities that help shape the final deal, as long as the terms are acceptable to you as the buyer. It can be beneficial to listen to the seller and find solutions that work best for both parties—solutions that enable the transaction to be completed quickly with as few complications as possible.
Cash Home Purchases
In general, a cash home purchase is going to be your fastest way to buy houses. The transactions can be very simplified and closing can be completed within a week or two if everything is planned out properly. Of course, to close deals this quickly, you may be willing to take on a few risks with the property. A fast cash sale will typically mean you are buying the house in as-is condition and covering any closing costs. These are likely very motivated sellers who want and/or need to move out as soon as possible. They don’t have the time or money to make repairs and they may not be able to afford to live in the home much longer.
Again, understanding their specific situation can benefit you when trying to craft the perfect purchase offer. A homeowner facing foreclosure or tax seizure will have different priorities than a divorced couple trying to sell off their property to split the proceeds. Someone moving quickly for a sudden job relocation will have their own needs compared to a seller who simply just doesn’t want to deal with a Realtor® and go through the traditional selling process. Remember there may be any number of reasons why a homeowner wants to sell quickly, so tailor your offer to address those needs.
Benefits of a Cash Purchase
Otherwise, a cash deal can be completed quickly. The home seller gets out from under their house and will get the cash in hand to use how they see fit. You will have the title to the property soon, so you can start with your renovations or flip it directly to the next buyer. What you do with the property is up to you. The important thing is that you get the deal done as fast and simple as possible—as long as you aren’t overpaying or getting in too far over your head with a bad investment. This is important to remember when making cash offers on properties in as-is condition. We all know the saying “buyer beware.” Make sure you have run the necessary property analytics and renovation estimates before you commit to buying the house!
PropertyLark can help you find great off-market real estate deals, run detailed property analytics and find the simplest, fastest way to buy a house you are interested in. Fill out the form to the right to see if you qualify for our exclusive home buying network.