Using the Web and social media to sell real estate

The most complex aspect of real estate is rehabbing a property, here you can make the most profit or the most loss since you have many variables to keep under control and you depend on other people for the correct execution of the project within the time and the budget you have set aside. Although it doesn’t seem so apparent, the highest burden for the investor who is dealing with rehabs is to keep track of all the costs associated with the project and project manage all the resources so to reach the final result as fast as possible and as close to the original cost target as possible.

Unfortunately the majority of problems arise during this phase and therefore you can never predict with absolute accuracy the total cost of the project and you should keep some reserve space so that you can complete the project without having to go back to your financing investor for more money, which is always a bad business practice.

On the other hand, you can try to include in the project some elements that can make the house interesting also to an international buyer so widening you marketing scope and possibly shortening your selling time since many international buyers can pay cash or can arrange their financing pretty fast.

One of the key elements to keep in mind when you prepare a project for an international buyer is the proximity to amenities that would make the house desirable for a vacation or for coming to study in the US. Some Europeans like to send their sons to the US for their final university training and therefore the proximity of your house to a renown university could make it interesting for people overseas. You can check with your local university, if any, to see how many foreign students they have and of which nationality and then use the Web to market to those countries.

Then you can include some elements in your rehab that would make the house more comfortable for a foreigner. A big garage with a strong door where they can leave their car when they are away is an attractive element. Tile or hardwood floors are usually preferred by Europeans because they are easier to maintain. Pay special attention to the roof, to plumbing, to mechanical (heating and cooling) and electrical or to any open permit that might be an issue for the new owner. You want to build a good relationship and foster word of mouth or multiple sale. Be ready to provide services, like creating an LLC, solving international taxing or legal issue. If you don’t know how to do that you can connect with people like me that can provide these services and help you market you properties overseas.

Roberto Mazzoni

Tags: "new business ideas", "Roberto Mazzoni", International Real Estate