Michael Giannulis on the Competent Strategies Entrepreneurs may Encompass for Growing in the Real Estate Market

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Michael Giannulis on the Competent Strategies Entrepreneurs may Encompass for Growing in the Real Estate Market

In case you have decided to start a real estate business, you know that it is essential that your company makes a profit. You need to have enough money in your bank for your survival and also leading a luxurious life. 

In this scenario, business entrepreneurs sometimes get confronted with questions about the most effective strategy, which might help them make that amount of money. Since a technique that works for you may not work for someone else, you have to pay keen attention to various critical areas before choosing one particular strategy for your business. Michael Giannulis, in this regard, provides the readers with tactics and techniques which real estate agents may utilize for gaining additional revenue and also maximizing their current revenue

Take a Look at the Following Points as Provided By Mike Giannulis

Flip It and Fix It: if you plan to sell a house after fixing it up, following your purchase, you can consider flipping it. House flipping is the favorite option of many real estate agents. It is an efficient way of generating additional income. However, just one flip may not help you grab a considerable amount, and you may have to flip it multiple times to make a modest profit. Moreover, there are various risks involved in the flipping business

To ensure that the strategy works, you have to purchase a property below market price and accurately estimate the repairing cost. Experience plays a significant role in this regard, as it may help house owners make a smart purchase. While purchasing a property, ensure that you know about after repair value. You may require the help of a real estate agent to estimate the after repair value and thereby grab customers who can purchase your property at a higher rate.

Search for Hidden and Off-Market Properties: An off-market property is one which is owned by people who go for frequent vacations, those who are going through a divorce, or those individuals who no longer want to wait for the selling of their property. Since they cannot sell the house through traditional channels, they are available at a lower price than the market. 

When you find a person who requires immediate cash, it provides you with an opportunity to acquire a property below market value. These properties will assist you in giving the highest return on your investment. For this, you have to build your network and develop strong connections with real estate attorneys. Most of the time, they have reliable information about these off-market properties.

In addition to this, you may also target the vacation rental market for making a sound purchase. When you purchase a property that you can rent during tourist seasons, you stand the chance of gaining higher returns. For this, you have to price the property low enough in comparison to others to attract vacation rental. Also, staging the property is essential as the clients require an accurate picture of the estate before buying your house.

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