My brother-in-law is a pretty savvy businessman. He owns several rental properties, and a few years ago, he bought a popular bar in the downtown area of our hometown. His latest business venture involves flipping houses. He has gotten me involved in the search process, and I also do a bit for him when the property is ready to go on the market. I’ve learned a lot about how to put a home up as “for sale by owner.”
Because my brother-in-law primarily buys foreclosed homes, they all have to undergo a renovation process. When that is complete, I head out to the home to take pictures. The first thing I do is look through everything I snapped and select the best photographs. From there, I make a flyer that we can put outside the home, near the for sale sign. That way, interested buyers have something to take with them, and they know how to contact us if they are interested in viewing the property or putting in an offer.
In addition, I use the pictures to come up with an advertisement that I can put on real estate sites and other classified advertisement websites. We hook quite a few interested individuals with this method. The key, though, is to be persistent and to post the ads as often as is allowed by each site’s rules. In that way, we get maximum exposure without doing anything to get ourselves banned from the sites.
Flipping houses, and putting them on the market without a Realtor, is an interesting process. I am learning a lot, but there is still a lot more for me to learn as this business takes off. I am just glad that I can help and that I am allowed to be a part of the process.