Real estate is an up and down industry that can make or break your investment business. This is why it’s essential to research the areas you purchase properties in. If you can consistently purchase houses inside of neighborhoods and communities that are favorable, then you should have no issues with renting them out and selling them. You may also find investing in rundown homes to be profitable, if you have an affordable contractor you can hire to fix it up nicely.
Whatever type of buildings and homes you choose to invest in, you can use the following tips to help you make the most of your career in real estate.
Buy a Website for Your Company
This is a good idea whether you’re a lone investor or work together with a group of others. A website will make your business look more professional, which will in turn earn the trust of prospects. You can hire a web designer or build one yourself using tools like Wix.com. You can purchase a domain name from a registrar like Namecheap.com. Make sure your site is responsive, so visitors using mobile devices and desktops can easily access it.
Open an Escrow Account
This is important to have to ensure both parties are secure during transactions. Escrow accounts hold the funds of buyers until the closing of the deal. Once the deal is closed, the funds are released to you. What this does is ensure that the buyer has the funds to complete the deal and that the realtor won’t just take the money and run. There are shady investors out there, so both sides need to be protected.
Use a Quality Camera to Take Photos
The listings you post up of your properties should be displayed using high-quality photos. You’re going to need a quality digital camera to pull this off. Some smartphones have great cameras as well. If you want to make virtual tours, this can be done using a mini-drone. You can hire someone to do it for you or learn to operate it on your own. In the long run, this will save you a lot of money.
Invest in Online Marketing
Where do people go when they need a property to rent or buy? The internet. If you’re properties and business website can’t be found, then your traffic will come to a slowing stop. The only way around this is to use online marketing. There are different methods of internet marketing you can use, such as promoting your listings on social media, using search engine optimization to rank in Google and setting up listings on popular sites like Zillow.
When you meet with prospects to show properties, make sure you dress and act professionally. Your goal is to build trust with the potential occupant. Again, there are a lot of shady real estate agents out there and homeowners are very skeptical. Be honest about the flaws a property has to help show that you’re not hiding anything about the property.