How Do I REALLY Sell My House Fast in Chesapeake?
Today we’re gonna talk about the absolute best time to sell a house.
So when is the best time to sell a property?
Well, the truth is it depends.
If you bought it the right way, then anytime should be the right time.
However, will there be times in the market that are more advantageous than others? Try this one for a minute: Consumers and investors usually follow separate and opposite tracks.
So when all the consumers are buying up real estate, do you know what investors are typically doing? That’s when they’re selling! When everyone is in this buyer’s market, that’s when you can usually sell for the highest price and that’s when investors wanna trade into different properties.
House Flipping Tips For Success
But the opposite is also true.
When all of the consumers are dumping and saying “The sky is falling and it’s the worst investment that we saw in ’07 and 2008 and 9 and 10!”.
What were investors like me doing? We’re buying up everything like crazy! WarrenBuffett – he had his own hedge fund at the time.
He was buying 30.
40,000 homes per-year into the markets that actually were totally decimated.
So, best time to sell a home is really at the market high before it falls out is when you’re going to really cash in on top dollar.
But if your strategy requires that, then you may have in fact, the WRONG strategy.
Because if the market is ever turning and moving it away that it’s not advantageous for you, you should be able to continue holding that home, cash flowing it, and continuing to make money on it.
What do I do if I can't sell my house?Kris Krohn, Limitless TV and I get this question all the time in the comments.
Iknow that some of you are trying to sell a house because there's a need to orthere's a financial hemorrhage going on and I want you to know that in today'svideo, we're going to be providing some answers and we're going to provide somereally awesome solutions.
I don't know if you can hear that but wetotally got the cleaners upstairs that are that are cleaning the house so wemight have a little bit of vacuum sounds going on in the background, I hope thatdoesn't bother you too much.
What we're going to be doing today is, we're going to betalking about what do you do when you have a house you can't sell.
We get thisquestion all the time, it's common where I've got this house, I can't sell it andfirst of all, I want to talk about some of the different reasons why people arestruggling and actually in this situation in the first place because itcan often be a byproduct of, I didn't have a plan or the market did somethingI didn't plan for.
Steven, you know, with you running the back into the entirereal estate system, I know that you work with people on a pretty regular basisthat have a home and they perceive and need to sell it, what are some of thereasons why people become don't want or need to get out of the house? - First, sofirst of all, I want to talk about, you don't ever need to sell a home when themarket's bad, right? That's a bad decision.
- That's actually the opposite ofwhat you want to be.
When everyone's selling you should be, what.
- Yeah, youshould be holding on to the right or buy.
So the reality is, if youthink you need to sell your home, chances are you probably don't need to sell it,you just need to find a different option.
So I want to just challenge yourthinking for a second, right, what if I need to sell my home or what if I I wantto sell it but I can't sell it, well the real answer is, you just don't sell it,you just hold on to it, as a matter of fact, when markets go down, if your homeis in a lease option or a rental and the market kind of starts to tank a littlebit, you're actually in a better position than you were before because althoughyour equity that home, may it look like on paper that it's leaving, it'sgoing away, the reality is, demand for your home's going to go up becausepeople can't qualify for a homes with the bank so they have to getinto your property.
- But I want to push back, Steven.
Some people say, "I'm in abad financial situation" or "There's equity in my house" or "I got this houseand I can't cover the payments" So sometimes people will look at theirstruggling financial situation or a house just have some extra repairs andit's like, I can't afford to keep this house so I can't sell it in the market andI'm financially struggling, what do you tell that person where it's not aboutthe market, it's about their personal market? - Great so there's a couple things.
Number one, if you keep that home in a normal rental market, it's probably notgoing to be the best thing for you but we talked about lease options alittle bit, right? The lease option is a wonderful solution if you're in afinancial pinch and let's just say thatyou need an extra $2,000 or you need an extra $5,000 or even extra $10,000, alease option is a perfect scenario for you because what a lease option allowsyou to do is to collect this initial money right off the bat and click morethan your typical rental would be anyway.
- If you don't know the lease option is,check out some of the lease option videos on our channel so that you canget an explanation of what that is but essentially what Steven is saying hereis, if you need to hold your house and the market is telling you, we're notgoing to buy it from you at the price that you need or want, then you need tohold it.
So instead of losing it, hold it in the most intelligent way.
Right now ona lease option, on a home, a single-family home purchased at or below the median,there's usually a $40,000 difference between renting and doing the leaseoption because like Steven said, you can collect a $3,000, $5,000, $7,000, $10,000 down payment,you're going to collect a higher rent so if you were renting it for $1,300, you canprobably lease option it for $1,500, that extra cash flow can create thatbreathing room of, I'm not going negative, I'm not losing money,I collected a down payment, I got someone taking care of the house, they'reactually doing all the maintenance on it, it actually manages mostly itself, I canbreathe again and then sell that house at the right time later in the market oryou can wait for a rebound, you can wait for the market to come back but you getto be positive on your cash flow.
- So one thing that people often say is, "Wellwhat if I'm upside down in my house? I need to get rid of my house orI feel like I need to but I'm upside down.
" - That is the worsttime to be thinking, "Oh I'm down in the market, I should sell.
" - Please don't, likeplease don't sell off your upside down in your home but the reality is, thelease option done right also accounts for that type of a scenario.
- Well justthink about it, man.
Every 15 years, the market is going through its ups and itsdowns.
In time, it will correct itself.
How can we say that with confidence over thelast 3,000 years? I'll tell you, they've been tracking it and it's because wekeep doing this thing called making babies.
Population increases and it always creates more demand.
We might be in amarket right now where at one point in the market, it's like there's not enoughhouses and we're building like crazy but you know what always follows that? Too manyhouses and not enough buyers and that's when people start getting skittish andfearful, the market goes down, they want to take, they want out.
I'm like, don'tsell the house, manage house.
This is part of knowing how tomanage your assets so really the message that we're sharing today is, if themarket will not take your house and a price you need for it to go for, then youneed to hang on to the house - get creative - but do it strategically andwatch one of the lease option videos because we'll share with you the mostintelligent way to do that and we even have a course that will show you, giveyou the contracts, show you how to market it, it's really simple, we create so manysuccesses with this system and so if you're in that position where you'rethinking, "Man, I really need to get out of this.
" Maybe you don't, you might fastforward five years and say, "Whoa at that time, I thought it needed out but I endedup making $30,000 out of a lemon situation, I turn it into lemonade andthirty thousand dollars is way better off where I was fighting.
- I want to saysomething crazy here for just a second.
- Give them a bonus okay.
- This is a bonus.
What if you're upside down in your home, you can no longer afford your paymentsso you need to downsize.
Now for often for people, they think, I used to get ridof this home, I need to get it off, get it out of my mind, I need to move on andmove out.
- Because of the fear and the scares, how am I going to pay for it -Here's an idea.
If you can't qualify to buy another home, what if you, what ifyou downsized, what if you rented for a while and now what if while you'rerenting, you turn that home into a lease option? - Well and you can actually getyour own self into a lease option.
- You can absolutely do that.
- And at the same time,so your own house and before you notice like, man, I reduced my payments, Iincreased my profitability, I'm way better off.
- Yeah, all of a sudden,you thought you were down because maybe you had a decrease in monthly income orwhatever the case is but now all the sudden you're able to maybe make up someof that, maybe make up a lot of that and put yourself in a situation where fiveyears down the road, you're not only a little bit better off,you're way better off.
- So if you are in a situation where you need to sell yourhouse and you don't know how and you want to make that extra forty thousandgain that we're talking about, make sure you click the link here and we'll goahead and have one of our team, it might even be Steven Miller or myself thatreaches out to you and actually shares a gameplan for a very real solution totake a stressful situation and turn it into a beautiful profitable situation.
Ihope this provided some really good optional solution for you on what youcan do.
The lease option truly is an amazing way to go click the linkso that you can learn more about it.
Otherwise, subscribe and join ourFacebook channel.
Oh my heavens, Facebook is the place for us to meet up, it's aplace where I'm doing a lot of real time and life videos, it's a place to findpartners and introduce partners, it's a place where I can share deals with you,if you want to get way more hands-on in real estate then you know what? Come findus on that Facebook page.
This is one of the reasons why one of my many rules in real estate is that I buy below the median.
Why do I do that on my short-term buy and holds? Because if the market ever turns AGAINST me, I’m gonna keep on cash flowing that property and those lower-priced homes – they don’t lose value like a million ora half a million dollar home does.
So Warren Buffett has this principle, right?He calls it the margin of risk.
And really when you talk about the best time to sella house, I wanna draw attention to how Warren Buffett has become a billionaire and the, one of the greatest philanthropist of our day and age; all based on a very simple principle you may have heard called Buy Low, Sell High, okay?
Warren is a really great example if you read his book Snowball, of an individual that really live his principles. He must have understood VirginiaInvesting.com!
He says if you wanna reduce your risk, you gotta increase your margin of profitability.
So it’s real simple:If you buy a house as an investor, you buy it with a lot of equity ’cause if you do, whether it’s the wrong or right time to sell, you can sell profitably! Understanding this principle is key for this next part: If you buy the right house, you can sell it anytime for great profit.
I’ve got an example here of the house that I’ve just recently sold.
This is a house that I sold and purchased in ’05 and sold in 2015.
So I’ve held onto this house for 10 years and here’s some background on this house: I actually leveraged a partner’s money and a partner’s credit to buy this house.
So how much money was I into this deal? I wasn’t in it at all.
And I used my staff and my team and we basically lined it up.
Now I have here the HUD.
This is actually the closing documents on selling this house where I received as you can see here a $38,986check.
But here’s the summary on this spread that I wanna point out.
I purchased this house in 2005 and we bought it for $109,000 and a down payment of 10% was $1,069.
My expenses over the life of holding this was 70,000 but my income was a 107.
What’s the difference? Roughly $37,000 that we got to make in cash flow and to down payments, deposits, along the way.
Then when we sold the house, we collected a check for $28,000 that me and my partner got to split afterI paid back my partner the $9,000 that he put in.
So he put in the money, he got paid back.
So basically there’s 28,000 of profits to split, there’s 37,000 that was made along the way, 37 and 28 is roughly $65,000, okay? So this tiny little house – 4 bedroom, 1 and a half bath, did a good job taking care of me.
Now let’s just for a moment take a look at the ROI.
I could’ve sold this house at any time but why did I sell it now? Well, it’s been a cash cow.
The little bit out, how do I know it’s a cash cow? For a moment, take a look at the ROI! We put in $9,000 but look at what we got out? $65,000! That’s a 720%increase.
Now, divide that over holding the home for10 years and that is 72% a year on your money.
Now, my business partner and I made 72% a year based on whose money? His money! He’s.
he and I get to split the ROI 36% each.
But let me ask you, if I put no money in, what is my real net ROI? It’s infinite! Think about it.
I didn’t put anything in, but I got all of that money coming back out to me.
So this is an example of ‘I could’ve sold this house at any time.
It’s been cash flow cowing.
Why did I really sell it?’.
Because the market was right! What do you do when the market’s wrong? Just keep making money and keep cash flowing! When you do real estate the right way, it can always be a great time to buy, hold, or sell.
which is why I love short-term buy and hold strategies ’cause I get to make my money along the way.
I hope you’ve enjoyed today’s video on the best time to sell your house.
Put some comments below! We’d love to respond and give you the help that you need as we work on turning you into a brilliant, bright, and successful real estate investor.
Love is one of those human emotions that are as vital as air and water. It has been behind the biggest feats – and biggest atrocities – of humankind. Love is everywhere and in everything humans are involved in, so, what are the similarities, intersections, and relationships between Love and Real Estate?
That’s what we are going to figure out with this article. Shall we?
First impressions matter
Like with love and dating, while it’s not definitive, first impressions do matter in real estate. A house with no home staging, completely uncared for, will not impress home buyers. A poorly put together real estate agent ad, website or a poorly presented in-person real estate agent will not impress home sellers and home buyers either. On the contrary, it will make them shy away from you or the house.
You’re not physically getting into bed with your clients and buyers, but you are metaphorical. So you need to present yourself and what you have to offer with confidence. One will truly love the other only if they see in their eyes a spark of self-love. That’s what people really fall in love with. Pity is not love, and that’s what home buyers feel when they walk into a home with an uncared-for garden entryway in desperate need of care. And worst: if they do make an offer, chances are it’s the opposite of love; indifference to you and your desires of selling for the highest you can. They are probably trying to buy it on the real low, put some of their love to the home so they can sell it for much more. So, in other words, its all about self-love, really. Love yourself and your house and increase your home value with these home improvement ideas.
Loyalty is important
The majority of our society is strictly monogamist when it comes to love relationships, and the same should apply to real estate. We’re not saying real estate agents should have just one client at a time, but they should treat them as if they were the only one, with the care, attention, and respect they deserve.
And regarding home buyers or home sellers avoid dual listings as much as you can. Yes, we know it’s okay if the real estate agent comes clean with both the lovers—I mean, clients! But you know what? Go back to the first topic. Love yourself! A dual agency will keep your real estate agent from fully focusing on his fiduciary duties to you. But also, don’t go out selling your home with a bunch of real estate agents, like in an Open Listing. It seems like a good idea, like a lot of people are out there selling your house and it will speed up the process, but you’re better served with one dedicated person trying to sell it because they know if they do they’ll get a commission. The reality is that in an open listing, only inexperienced real estate agents really spend their time marketing the home; most will have it at their backburner in case it perfectly matches a client’s taste.
Exes are forever
Just like in romantic relationships, it’s likely that an ex will, down the road, show up again in your life. And, like with love, that can be a good or a bad thing. That’s why, real estate agents, no matter how big their influence (or commission) will be, should always do their best, be the kindest and the most righteous they can. You don’t want the evil Ex returning, complaining about something you forgot to do, smearing your name all around your real estate market. You want the good Ex that will return because they want to sell the house and buy another one, and their experience with you was so good it’s part of the reason why they want to do it again.
No matter if it’s a fling (like someone just wanting to have more information about something real estate-related) or a long-term relationship (like someone who hired you to buy or sell a house with you) show them some love and courtesy.
There's no I in love
And neither in a real estate agent.
When you love someone, you give up a few of your needs in favor of your loved ones’. Which is great when they do the same in return. If they don’t; maybe rethink your relationship, ok? With real estate agents, it should be the same thing. Sure, they are relying on your experience to guide them through the home buying process, but please: this is not about you! Listen to your clients, become interested in understanding them and their needs before you come with your “my way or the highway” attitude. That’s one of the worst Real Estate Agent types there is. Every case is different, don’t try to simplify it for your own sake. Don’t be lazy. Your clients deserve your best efforts and doing exactly the same every time is not doing that.
Surprise x Routine
A balance between this too is very important in a romantic relationship. Humans long for the comfort of routine, but also get bored by it and crave for a little bit (not too much!) of surprise. That usually translates in unexpectedly bringing flowers home, going out to dinner from time to time, traveling to get some one-on-one time away in a different setting. For a real estate agent that means mixing up a little bit. Don’t be just the guy who calls or appears when there’s a showing/offer on the table. Call them even if nothing special is going on; let them know you’re thinking of them. Send an e-mail with something that you saw on the news or the internet that relates to them and their house. There are several websites out there that put out great content related to real estate; just like on our website RealEstateAgent.com. Be their curator!
But like we said, don’t overdo it either. Try to find the balance. You don’t want to bother them too much.
Communication is key
This is the most important aspect of a romantic relationship. If you don’t develop a clear communication with your loved one, it doesn’t matter how much you love them and how much they love you back… it will be a troubled, confusing relationship. Who wants that? Be very clear about your intentions and your way of working, learn to listen to your client; learn to understand even their non-verbal communication! If both of you are completely honest with each other, there will hardly be any disappointments.
May it be eternal while it lasts
Hey, sometimes everything started out great but something happened along the way and communication started getting bad and now you can’t understand or respect each other and it’s just… bad.
That’s ok. It happens. Dealing with unreasonable home buyers and home sellers is something every real estate agent goes through. And straight giving up is normal. No one should be ostracized for that. What is important is to realize it and set yourself and your client/loved one free. Reach out to the client and tell him or her that maybe it’s best to part ways. Don’t just say “hey, it’s not working, I’m out! Good luck!”. If you do, you’ll be the one responsible for them becoming an evil ex. Talk about how it’s not working for the both of them and you feel he/she will be better served with a fresh mind and point of view related to their house. You should even have recommendations of real estate agents you think could be a good fit, but remember they are free to do whatever they want.
Because in the end, the great lesson about love and real estate is a lesson of Freedom! No one is obligated to have you there by their side, as a lover or real estate agent. They are free to have or not have you. You need to prove your worth. Freedom is the only feeling humans long for more than love. For the truth is that only people who understand the concept of freedom can truly love. Only those who respect and adore freedom can understand and love another person’s spirit. So be free, let it be free and let love rule!