|How Sellers Make Listings More Attractive to Investors||3:40|
|What Makes an Offer Attractive to Investors||10:08|
|Key Investment Markets||13:05|
|Strategies to Determine Whether to Flip or Hold||16:15|
|Home Improvements with Best ROI||19:33|
|General Contractor? Do These Things to Get in with an Investor||20:49|
|Stories from Big Wins & Big Mistakes||27:26|
|Advice for Agents Who Want to Move in to Real Estate Investment||31:32|
|How to Reach Out To and Develop a Relationship with an Investor||36:21|
This week on Modern American Realtor the brothers look at the real estate industry from the investor side, which can be an exciting approach for agents in the industry interested in developing partnerships with investors in their market. To give expert insight on this highly important aspect of the industry is James Paine, who is the managing partner at West Realty Advisors, and has impressively flipped 3,000 homes in 26 states. Paine explains in detail how agents can make themselves and their listings more attractive to real estate investors, and the steps they should follow to establish official partnerships.
Like traditional real estate agents, investors too are sifting through the MLS looking for potential properties that they can flip. However, Paine describes that many of the homes on the MLS lack proper information, meaning full descriptions of the house and detailed photos. In Paine’s opinion, it should be a no-brainer to spend an extra hour writing out perfectly worded descriptions, after all that description can make the difference between your property getting investor attention or it being passed over.
Along those same lines, investors are more inclined to work with sellers and buyers agents who take the extra time to be completely knowledgable about the house and provide detailed information that is pertinent to help the investor make an educated decision. What’s the benefit of the additional work? That investor will come to you again and again to do deals.
Another important factor to investors is to provide attractive offers. Paine surprisingly reveals that pricing is not always the most vital factor, but rather a quick close with assurance that it will be completed. In addition, the best ROI on flipped homes comes from improving the kitchen, master bath, and an overall sparkly clean atmosphere.
To wrap up the episode the brothers ask Paine the lessons he has learned over the years he has developed his business. The best advice he gives is to always self-educate, learn how to master systems one at a time, base decisions on data, and learn to do one or two things extremely well.
2:52 – Guest Introduction
3:40 – How Sellers Make Listings More Attractive to Investors
10:08 – What Makes an Offer Attractive to Investors
13:05 – Key Investment Markets
16:15 – Strategies to Determine Whether to Flip or Hold
19:33 – Home Improvements with Best ROI
20:49 – General Contractor? Do These Things to Get in with an Investor
27:26 – Stories from Big Wins & Big Mistakes
31:32 – Advice for Agents Who Want to Move in to Real Estate Investment
36:21 – How to Reach Out To and Develop a Relationship with an Investor
Podcast produced and edited by Jacob Turnbloom
Intro and outro music created by Jacob Turnbloom
Show notes and transcription by Matt Russell
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