Foreclosure Investments El Dorado Hills, CA
Are you looking to make some easy money in foreclosure real estate investments in El Dorado Hills, CA? You have come to the right place at Wallen Realty! We have years of expertise and a great selection of low-price, high-value properties that are perfect for your next investment venture.
Foreclosures in El Dorado Hills, CA
Foreclosures are a great investment because you can get a high value property at a rock bottom price. Many people buy foreclosures in El Dorado Hills, CA with the plan to fix up the property, make it look like a designer home, and then sell it for the highest price they can get for it. Other investors simply buy foreclosures at a low price and then put it back on the market, hoping to sell it for its true market value.
How to invest in foreclosures in El Dorado Hills, CA
Foreclosure investments are not very labor-intensive, but they do take some savvy to be able to do well and make a good profit on. We can help you with that, here at Wallen Realty. Here are some of our top tips for making profits on foreclosure investments:
- Decide if you are going to renovate the home or flip it. If you choose to renovate, this will require additional investment on your part, in the form of materials and time to renovate. If you are simply going to flip the house, this requires less effort on your part but you need to know the market very well to be able to guarantee a return.
- If you are going to renovate the home: First, make sure to have a thorough inspection done on the home. You do not want to discover halfway through your renovations that you are going to need to make an important structural repair hat will actually cost most of the profit you were hoping to make. Some things to look for include wiring in older houses, problems with the foundation, and any other structural problems that there might be. If you are going to have to make major repairs along these lines, price what the repairs will cost, compare it to the market value the house will have once it is repaired, and determine whether this will bring in enough profit to make it worthwhile.
- If you are going to flip the home: You also need to have a thorough inspection done on the house, but not because you are going to be making the repairs. You need an inspection to know if you will need to significantly lower the asking price of the house from the market value. Your buyer will have an inspection done, and even if you sell the house “as-is,” you will not be able to sell it at your ideal price if there are major repairs to be made to it. So before you buy the foreclosure, make sure that the price you will be able to sell it at will be high enough to give you the profit you are looking for.
- Choose the right time of year: Spring is high season for home buyers, and far fewer people are looking in the winter. You want to buy when few people are buying, and sell when everyone is buying. Here at Wallen Realty, we will help you create your strategy for foreclosure real estate investment in El Dorado Hills, CA, and find you the foreclosure properties that will give you the ideal return on your investment.