Wholesaling Vacant Houses Faster and For More Profit

Wholesaling Vacant Houses Faster and For More Profit

Despite recent trends, is wholesaling vacant houses really the better investment strategy, and if so, how can you flip these homes faster and for more profit?

There is no doubt that purchasing rental properties and flipping turnkey rental investment homes has become incredibly popular during the last few years and offers plenty of profits; however, there are many advantages to sticking to wholesaling vacant houses.

The demand for rentals is still there, due to a lack of other attractive investment options, and will keep growing as the market continues to improve. However, that doesn’t mean that you want to personally be the one holding them, especially after the risks of buy and hold which have been highlighted in the wake of hurricane Sandy.

There are also many advantages to wholesaling empty homes as opposed to occupied ones, which many newer real estate investors overlook. For a start, this means being able to sell properties faster, without having to deal with arranging showings with tenants or existing owner occupants. It provides more flexibility and limits any temporary maintenance and utility service holding costs, as well as meaning no threat of liability or frivolous personal injury lawsuits from occupants.

Vacant homes are also more attractive to potential home buyers as they can be confident that there will be no awkward issues with tenants or major hurdles trying to evict ex-homeowners who really don’t want to leave. Plus, it means properties can be rented at today’s new higher rates, rather than being locked into low leases handed out during harder times.

Perhaps one of the most important and valuable benefits of wholesaling vacant houses is having more exit strategies and options available. These homes are free to be flipped to other real estate investors or they can be turned over to retail buyers for even bigger spreads. Plus, homes are free for renovations to be started immediately.

At the same time, it is no secret that some empty homes on the market today are seriously neglected. So how can you make them appear more attractive so that they can be flipped faster and for more money?

Going at them with a lawn mower and weed whacker can make a big difference along with a few gallons of chlorine to shock brown pools back into inviting condition. Obviously most wholesalers don’t want to start going down this path and get their hands dirty but it can make a big difference in profits and deliver a large ROI, as can ‘pre-habbing’ or clearing out homes to wipe the slate clean for the end buyer.

Home staging is another option and there are many affordable ways to do it; however, instead of lugging furniture and appliances around and eating away at net profits, consider virtual staging instead.

Finally for those who do find wholesaling vacant houses to retail buyers easy or more attractive, credits can be offered to help with repairs or customizing homes.

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