TOP Buyer Hacks You Need for 2023
Here are three buyer hacks moving into 2023.
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First, if you are a fixin flipper, I would encourage you to get deep, deep discounts. Reason why we don’t know where the interest rates are gonna land. Most of the buyers nowadays can’t quite afford a 6 and 1/2 or 7% interest rate. So if you are flipping, I encourage you to stay under $300,000 and make sure you have a deep discount. So no matter what, in any case, you have profit margin and in the worst case scenario, you can always keep it as a rental.
Point number two, if you’re buying hold type buyer, then I would encourage you to make sure that you’re not trying to buy the property at rock bottom and make sure you’re just analyzing make sure it is a very solid deal for you. In fact, again, I would say under 300,000. And I would see if it would be a great BRRRR property where you can add value and be able to refi out your cash after remodel so that you’re really not into the property for much. And quite honestly, it’s whether the rents can cover your principal your interest, your taxes and insurance and give you roughly 2 to $300 per door.
And point number three. If you’re a wholesaler trying to find buyers make sure you’re getting a deep discount. Based around the first two points I just told you, you’re fixing flip buyers and your landlord buyers are looking for the right deal. They don’t always need to make millions and millions of dollars. But as someone in fixing flips, they’re going to be quite cautious of whether there’s enough margin just in case the buyers aren’t quite there. And as someone who buys and holds, they wanna to make sure that they can cover all expenses, get their money out and be able to make a couple dollars each and every month. As a wholesaler make sure you’re getting a deeper discount now than you were even six months ago. Interest rates are the big factor in all of this. Now without you guys worrying about it, I will always tell you that is still a supply and demand issue, meaning the home builders have stopped building again, there is currently a supply and demand issue. So it won’t be a big crash. Just no matter what type of buyer you are, make sure you’re getting a great discount.
All right, so once again, this is the audio version of an incredible video I have over on my YouTube channel, make sure to head over youtube.com/justincolby and make sure you subscribe.
