Research Short Sale Homes?

Who Should Be On My Team To Flip Short Sale Homes?

Short Sales in NYC is not bad for everyone. You can capitalize on a short sale in NYC if you have the right team behind you. They should be experts in short sale processes and able to help you get your projects completed faster.

Hire an Experienced Real Estate Agent
You don’t want just any real estate agent on your team. You need an experienced short sale or foreclosure agent in NYC. They have a great working relationship with bank property asset managers. These managers are the ones working directly with REO properties.

A real estate agent also can help you choose the right short sale property in NYC, alerting you of which will sell fastest. They know the areas and what type of homes will do best as a short sale.

A Lending Team
When too good to pass up short sales come your way, you need to have your funding ready to go. That’s why having a lending team of hard money loan lenders can help you with multiple purchases at a time. You also should have conventional financing approval if you will have the property for several months, as the interest would be cheaper than a hard money lender. This money would also be needed to help cover your labor work.

A Refurbishing Team
In order to flip a home, you’ll need contractors on your team who can be ready on short notice. These include plumbers, roofers, electricians, and carpenters. It’s not necessary to have licensed professionals, but they should prove they do have the experience necessary.

Always remember to keep your property looking great at all times. A landscaper may be needed to keep the exterior looking well-kept and a photographer is useful for taking pictures getting the property ready to list online.

Vendors and Suppliers
Flipping short sale properties involves changing out appliances, painting the rooms, and tiling floors. These supplies can add up quickly. Purchasing items in bundles from vendors and suppliers can help you in your refurbishing process. They may also be able to expedite shipment of items you need in a hurry.

An Alarm System Technician
This may not seem like a top team member, but if you are purchasing multiple short sale NYC properties, having an alarm system technician on board offering discounts can save you tons of money. Any vacant home is a target for squatters and vandalism. You need to protect your labor and monetary investment with an exceptional alarm system.