Real estate investors have the power to do more than just buy and sell properties. The investments you acquire, and what you do with them, can have a significant impact on your community.
Turn Losses into Opportunities
Homeowners in forbearance will often decide to sell their home in order to avoid foreclosure and have turned to programs like Hubzu’s Signature Seller Auctions. As a real estate investor or agent, you may be in a position to assist these homeowners on their path to financial recovery. Time is of the essence when selling during a forbearance period, so buying a home from someone in this situation greatly benefits investors who are looking to acquire a new property quickly. With Hubzu’s Signature Seller Auctions, for example, an auction and bid selection can take place in as few as 7 days. This serves the interest of both you and the homeowner in forbearance. You can add another property to your portfolio and the homeowner can be unburdened from paying a mortgage they can’t afford while likely mitigating damage to their credit and allowing them the opportunity to extract any equity earned to start anew. Another possibility in this scenario is to negotiate a rental agreement with the former homeowner. Instead of purchasing the property with the goal of flipping or holding, thus requiring the seller to vacate the property, you have the option to allow them to remain in the home as a tenant. By doing so, you can turn your new investment into a rental property without the challenge of finding prospective renters. While you generate passive income from rental payments, the former homeowner can avoid the hassle of relocating.
Add Value
A debilitated home can significantly detract from your community’s market value. They can become an eyesore that can potentially affect another homeowner’s ability to sell their own property at a price point they desire. If you’re the kind of investor who enjoys DIY projects or full-scale renovations, you could increase the property value in your community by rehabilitating neglected homes. Simply repainting the exterior, maintaining the yard or installing a new front door can completely change the look of a property. And if you’re up for it, you can do more than just making cosmetic changes. Fixing the roof and replacing appliances are common home repairs that can increase property value.
Help Others Invest
An easy but fulfilling way to contribute to your community is by helping others invest in local real estate, which can be accomplished in numerous ways. You can start by sharing resources that are accessible to both beginners and experienced investors. For example, on Hubzu, people can buy and sell properties online. Referring platforms like this to investors in your community can help them launch a budding investment career or boost a business in progress. If you’re interested in using your investment experience to improve your community, try incorporating some of these options into your investment strategy!
Visit Hubzu.com/ThinkRealty for more market insights and to find properties in your area.
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