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by Steve Gillman
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buy, and find the right buyer to get top dollar. The next four on the list cover ways to create value, so you'll get more when you sell.
7. Offer financing. You can often get substantially more for a property if you offer financing. This is especially true if you let someone buy it with little money down. You can also get good interest on the loan.
8. Change use. If there is a higher use for the property, you can convert it to make it worth more to the next owner. Sometimes this means making condos into apartments, or apartments into condos. Maybe converting a home into office space will get the biggest return.
9. Improve and repair. Repairing anything that needs it is obvious, but you need to look creatively and carefully to find improvements to make. Concentrate only on those that will raise the value several times more than what they cost you.
10. Sell in parts. In real estate, the parts are often worth more than the whole. For example, splitting off an extra lot to sell for $30,000 will rarely decrease the value of a home by that much, so you'll make more money in the end.
Making money in real estate can be a wonderfully creative process. Just look at the sources of profits listed here, and think of how you can maximize a few of them on your next real estate investment.
About The Author
Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit
http://www.HousesUnderFiftyThousand.com. |
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