The holiday slump is no reason to stop real estate investing! In fact, the last quarter of the year is a great time to start making some serious real estate investments while other investors are thinking about the holidays! If you want to keep building your real estate investments in Phoenix, but not feel the seasonal slump, keep reading!
While new listings may not be showing up every day in December, deals are still showing up on the market. If there is a new home on the market, there is open houses and events to attend. Attending open houses make it easy for agents to remember you, and for you to see the potential a flip or rental property has. With the slow season’s clients and agents and anxious to move properties quickly and make deals happen.
This is a great time to shop for new and exciting opportunities for real estate investments in Phoenix, so take advantage of the slow season. As the seller market slowly shifts to the buyer in the slower seasons, realtors and clients will be thrilled to have a property move quickly. So build relationships with realtors, wholesalers, and others in the industry who will want to move properties fast when no one else is looking. You can learn more about how to network at events here!
Negotiate for every deal
Every deal can be negotiated in the slow months! As the market shifts to the buyer from the seller, you can cut shot low for your offers on homes, and those willing to move the property fast may take an offer for substantially lower than the listing. You can even negotiate with contractors you hire to upgrade your property, as the amount of work they have available slows and may be able to pocket a large amount of savings from your upgrade budget. This article gives some great tips on how to negotiate with your contractor!
When finding and upgrading your real estate investments in Phoenix it’s important to be as flexible as possible. Understand that the holidays are an extremely busy time of year and that people have many family and work obligations to fulfill. By being flexible you will build a better relationship with your clients and ensure that more people will want to work with you. When making your appointments, and offer a variety of times or dates, so if a broker, or contractor, or tenant has other obligations it is easy to schedule something and doesn’t require much back and forth.
Know The Trends
Know what the real estate trends are and where they are heading. By staying informed you can see how many sales are happening and how many people are listing homes and buying per month. This makes it easy to see when as an investor you have the upper hand in purchasing new properties or when the best time to list your new real estate investments in Phoenix. Keeping an eye on the market is crucial to know when to make deals, and when you have the power in negotiation or when your realtor is fielding offers from over 50 other investors. You can find our favorite real estate market apps here!
Luck favors the prepared. When you attend network events, make sure you have business cards, photos of your investments properties, or leave-behinds to make your business in the slow season. You can even bring all the paperwork to buy a property to an open house to make sure you close the fastest and that no one has a chance to steal a property from under you. You should also have a contractor you already want to work in place, and a hard money lender ready to fund.
Hard money lenders make acquiring real estate investments in Phoenix faster than ever. With same day approvals and funding in 24 hours or less, hard money loans are a lifesaver for real estate investors! Hard money loans are secured from property value, so getting approved and funded is hassle-free. In fact, Prime Plus Mortgages application takes 2 minutes or less! Apply for our hard money loans here!