Our realtor advised us to purchase a 2 bedroom 1 bath investment property. She knew it had enough square footage to be more in an area where it would move quickly. She provided comps, contractor refferals and stats to determine profit margin, sales price point, how long the investment could potentially sit on the market and so on. After all her knowledge and assistance, we felt more than comfortable to move forward. It was listed for $69K. We purchased it for $55K.
After purchasing the property for $55K, per our realtor's advice, it was converted to a 3 bedroom 2 bath home. We also added some special features based on the comps. It was completely renovated and back on the market in months. Our realtor connected us with a stager, had professional pictures taken, listed, marketed it, held open houses, included in Broker Tours and ran social media ads. It was under contract in a matters of days and sold for $228K. We've purchase several other properties since using her formula.
When I met my realtor, my scores were not where they needed to be and I had a gifter who's funds I believed I couldn't use for the purchase of a home. Many turned me away. She did not. She connect me with her award winning lender team who eagerly advised me on what I needed to do to raise my scores and the paper needed for any gift funds. I just wanted a place my family could call home. With my realtor's assistance, I end up with much more ... a brand new construction in a great neighborhood with nearby parks, shopping, restaurants and a recreation center.
Most people dream of a white picket fence, I wanted an entertainment space that looked like a Grand Ballroom in a gated community. Of course, once I said it out loud, I realized how crazy I sounded. Thankfully, not to my realtor. My realtor went to work quickly, sending me homes in gated communities that had "Grand" appeals. She wouldn't let me settle or get discouraged when the first week went by without any prospects that fit the bill. We did not quit and stayed true to my dream. Less than 2 weeks later we found it! And becuase she had her lender fully pre-approve me (instead of just pre-qualify), we closed in ONLY 3 WEEKS.
We knew we wanted to put our home on the market, but didn't know where to start. Our realtor took care of everything, from hiring a handyman to do little things to spruce it up, to staging consulting, to getting professional pictures taken and more. We put it on the market and was under contract almost instanly.
When we met our realtor, we actually had no intention of buying anytime soon. We had convinced oursleves we needed to save a ton of money and get a luxurious home to reap the financial benefit of having an Air BnB. After a brief conversation with our realtor we learned our scores allowed for us to put down much less. We also realized we could get something small and quaint with a low note and be profitable. Since closing on our investment property, every month has been profitable.