Wholesaling Real Estate Tips for December
December can be a perplexing month of the year for newer real estate investors. So is it a good time for buying and selling homes, how does this season affect marketing opportunities and what challenges does trying to close at the end of the year bring?
Wholesaling Tips for Buying & Selling Homes in December
December is an incredible time for investors to make acquisitions.
A typical seasonal slowdown in home buyer activity, with so many either busy traveling, holiday shopping or attending parties and preparing for entertaining creates a great opportunity for investors to negotiate better deals.
Fewer buyers mean less competition and nervous sellers who become more eager to negotiate and cut deals. This applies to all owners, from individuals to banks, who want to meet end of the year quotas. This is perhaps even more pronounced this year with the looming end to short sale incentives and the coming fiscal cliff and high tax penalties for those who wait until the New Year to sell.
With this in mind, investors also need to guard themselves against the same panic other sellers face at this time of the year. Expect fewer home shoppers and offers and don’t get too emotional and sell too cheap.
Sell what you can and lock down contracts on properties you can flip as the New Year breaks.
Marketing Tips for Wholesaling in December
December is full of incredible marketing opportunities and pitfalls for real estate investors.
Recognize that the dynamics are totally different as people shift gears and focus for the holidays, which can dramatically affect shopping habits and the effectiveness of different types of advertising.
Some of your static strategies may get a little less play and response, but others can be even more productive. This is an awesome time for networking and themed content for attracting more web traffic and list building. There are certain groups of buyers who will be more active at this time of the year including those shopping for real estate as a gift, vacation home buyers and those looking to feed money through IRAs for tax protection. Then of course there is a bundle of year-end bonus money coming through the pipe which should be capitalized on too.
On the other hand, different groups will be putting off making major decisions until after the holidays or just won’t have the time. Don’t alienate them or turn them off by hard selling them in vain. Instead focus on appointment setting to cash in on a wave of new deals after January 1st.
The Perils of Planning End of Year Closings
Any experienced investor you solicit wholesaling tips from will tell you that trying to close deals right at the end of the year can be a complete nightmare.
Between title and mortgage staff taking time off and shuffling files, a surge in others wanting to close in the last couple days of the month and scheduling difficulties, it is frustrating at best.
Instead try to book all closings before the 15th. Then take the last week or two of the month off to tweak plans and get re-charged for the New Year while taking some hours out to build on your real estate investing education.
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