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5 Ways to Attract Multiple Offers in a Seller’s Market in Twin Cities

Are you thinking about selling your property and it’s currently a seller’s market? Keep reading this blog post to discover the 5 ways to attract multiple offers in a seller’s market in Twin Cities…

A seller’s market is one in which the seller has an advantage. Often, it means that there are more buyers than sellers: so many buyers are looking at just a few available properties.

But just because you naturally have an advantage in a seller’s market, doesn’t mean you’re home free to sell at massive profit. You should still strive to get as many offers as possible and, in doing so, give you the opportunity to select the best offer for yourself.

Why do you want multiple offers? It’s the simple concept of a “bidding war” – if you get one offer, you might feel forced to take it. But multiple offers allows you to choose from the best one, and even to negotiate from a stronger position.

Here Are 5 Ways To Attract Multiple Offers In A Seller’s Market In Twin Cities

#1. Open House

One way to attract multiple offers is to have an open house. If it’s marketed properly you’ll likely get several people looking at your property within a very short period that could increase the number of offers you’ll get at once.

#2. Price

Even though you might ask for and even get a high selling price, asking for a slightly lower price to attract multiple offers could be a better strategy.

#3. Accept Offers At A Certain Time Only

One way to attract multiple offers is to only accept offers at a certain time. That way, if someone wants to make an offer, they have to comply with your time-frame and you may get multiple offers all at once.

#4. Stand Out

Another way to attract multiple offers is to stand out in some way. Take your property to the next level by making it beautiful, memorable, and desirable. Perhaps even paint the door a dramatic color so that it stands out. This will make it memorable in people’s minds and they may add their offer to your growing pile of offers.

#5. Targeted Buyers

A very powerful way to attract multiple offers (although it’s often overlooked) is to identify who might be the perfect buyer for your home and then laser-target your marketing to reach them. For example, if you determine that first-time homebuyers are ideal then stage your home for that buyer and then laser-target your marketing to reach them.

Summary

In a seller’s market you might normally attract multiple offers anyway – but the more offers you get, the better. Use these 5 ways to attract multiple offers in a seller’s market in Twin Cities.

Selling in a seller’s market might seem like the best option but one way to get another offer is to have us give you a cash offer for your house. We’re buying properties in the Twin Cities Minnesota area and we’d like to make an offer too. Click here now to fill out the form or call us at 612-293-3532 and we’ll get in touch with our best cash offer.

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5 Tips to Find a Deal Buying Foreclosures in Minnesota

While the number of foreclosures has gone down in the past few years, there are still great deals to be found! However not every foreclosed home is worth the money! Make sure you know what to look for so you can find a deal buying foreclosures in Minnesota.

Pay Cash or Get Pre-Qualified Before Making An Offer

When buying a foreclosure, the process can be highly competitive, with many veteran investors paying in cash. You will want to be able to compete with these investors who have great knowledge of the market, who know when new properties become available and have the ability to make an immediate offer.

You need the freedom to be able to jump at a great deal before someone else gets ahold of it. As they say, the early bird gets the worm, and you don’t want to be waiting on the bank’s red tape while your dream home slips away.

Look For A Lender Who Will Provide Repair Assistance

Some lenders will consider a loan on a foreclosed property so long as you are able to show that the property will have a much higher value after some repairs. Some lenders will even offer repair assistance if they feel there is potential for a high return on the home.

Do ALL Your Homework

Some investors will bid on a foreclosure without ever seeing it. They plan on gutting the house and redoing it for a quick flip, so they don’t take the time to see the house for themselves. By going to see the home yourself, you will be able to see a lot more than what the pictures tell you.

What are the other houses in the neighborhood like? Are the other houses owner occupied? Are the homes well maintained?

Maybe the listing agent took pictures hastily and forgot to mention the 2 car garage or the new covered patio in the backyard.

Know what other homes are going for, as well as the history and demographics of the area.

You should always have an inspection done, so you don’t end up buying a “Money Pit” house!

Work Directly With The Listing Agent

The agent listing the home is likely to have a familiarity with the bank and understand exactly how they work. Go directly to them and find out what the bank is looking for and the best way to get your offer to them.

The agent will have a relationship with the asset manager at the bank who can approve or deny the sale. Form a relationship with a listing agent who specializes in foreclosures.

Often times they can add you to a list, letting you know when new properties are available. Working directly with the source will save you a lot of time and money.

Look On

Government

&

Bank Websites

Foreclosures owned by both the Department of Housing and Urban Development and all the major banks are available on-line. These properties are often also advertised through a listing agent, who you can contact directly with your offer.

These lists are updated daily and many offer email notifications if something matching your criteria becomes available.

The bottom line is you need to prepare for an impersonal, and competitive process. Think like an investor, and do not get so caught up in “getting a deal” that you pay more than you should!

If you’re looking to find a deal buying foreclosures, Sota Home Buyers can help you now! Fill out

this simple form

, and we will be in touch! Or give us a call anytime! 612-293-3532

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4 Reasons to Sell Your Twin Cities House Directly

You are likely to avoid what you don’t understand; however, this often leads to missed opportunities. There are many different situations, issues with properties, and reasons for selling. When the time comes to sell your home, the traditional market and all the trappings of a real estate agent aren’t always a perfect fit. So, it’s worth investigating all possible methods of home sales to find what suits you best.

Read on to discover four reasons to sell your Twin Cities house directly.

Savings

One of the top reasons many homeowners consider selling their homes on their own is to save the real estate commissions for themselves. However, if you would like to sell without going through all the hassles and headaches of listing your own home, marketing, showing, and negotiating with buyers, then you should sell your Twin Cities house directly. A direct buyer like those from Sota Home Buyers will outline what you would profit from the sale should you list with a real estate agent so you can compare it to the offer we make, which you will agree is fair. And at Sota Home Buyers, our direct buyers don’t charge any commissions to help you sell your home, and no hidden fees await you at the closing either.

Convenience

Perhaps you’ve already been forced to move out of Twin Cities, carrying the financial burdens of holding two properties. Or maybe your circumstances have changed, and you can no longer afford the property. Whatever your reasons, if you are in a hurry to sell your home, a convenient solution is to sell your Twin Cities house directly. Unlike real estate agents who cannot give you a closing date, by working with a direct buyer like those at Sota Home Buyers, you can have a guaranteed closing date in as little as seven days. Now, if that’s moving a little too fast for you, then don’t worry;  Sota Home Buyers is glad to work with you and set a closing date that’s convenient for your move.

Availability

For many homeowners, the thought of strangers walking through their property and touching their belongings is uncomfortable; for others, it downright concerns them to have their home exposed to so many people given recent health considerations. Making the property available at nearly any time for showings increases the odds of selling; let’s face it, if you’re having an off day and it’s not a good time for you to leave your home, you could lose a sale by turning a buyer away. So if you’d rather not have to keep your house cleaned at all times and jump at the drop of a hat to vacate your home, you should sell your Twin Cities house directly and skip the showings altogether. The direct buyers at Sota Home Buyers will arrange to have the house cleaned after your moving day; just take what you want and leave the rest to Sota Home Buyers.

As-Is

The seller must jump through hoops for the buyer’s mortgage financing approval and pay professional inspection and appraiser fees with traditional listings. The lender could deny the loan if the house doesn’t appraise. If the inspector finds significant problems and the buyers don’t’ walk away, they are likely to counter with outrageous credit towards making the repairs themselves. When you sell your Twin Cities house directly, you don’t need to lose any more sleep worrying about the unknown of the inspection and appraisal contingencies. When you work with a direct buyer like those at Sota Home Buyers, we buy homes for cash, as-is.

Sota Home Buyers makes it easy! So, why not keep more of your money, save time, avoid showings, and sell your Twin Cities house directly?! Contact Sota Home Buyers at 612-293-3532 today!

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4 Tips for Selling an Old House in Twin Cities

While older homes are often quite charming, their age can be of concern to buyers. Because of the unique challenges that older homes can present, you must take special care to improve your odds of a deal. Therefore, we’ve gathered together our top four tips for selling an old house in Twin Cities.

Price

Believe it or not, setting your home’s price at the correct number from the beginning when you’re selling an old house in Twin Cities could determine the number of days on the market or even if the house sells at all. Set the number to hi, and buyers will scroll on by eventually, the days on the market will add up, and buyers will begin to wonder what is wrong with the property. Likewise, setting the number too low can indicate something wrong, and buyers are likely to keep looking for other listings. However, pricing your home for sale doesn’t have to be a mystery. A direct buyer like those from Sota Home Buyers will explain to you in detail what you’re likely to make by selling your home on the market and compare that to the offer we make, which you’ll agree is more than fair when you see the numbers for yourself. Real estate commissions for yourself because the direct buyers at Sota Home Buyers don’t charge commissions, and we don’t have any hidden fees.

Staging

To enhance the property’s best features and improve your chances of selling an old house in Twin Cities, you should utilize as many of the techniques of the staging method as possible. You only get one chance to make a first impression, and when it comes to buyers, that impression needs to be that they can see themselves living in the house. Removing personal items such as photos and trophies, team memorabilia, and the like goes a long way towards enhancing this perception. Staging also serves to enhance the high-quality digital photography required to compete in the online real estate market, and don’t forget to include a 360-degree virtual tour to boost your listing. Finally, while attending to your property, don’t forget to enhance the curb appeal, make sure your lawn is well maintained, and make touch-ups on the home’s exterior, such as adding a fresh coat of paint. By working with a direct buyer like those at Sota Home Buyers, you can skip the showings and avoid the hassles and expense of staging your home for showings and marketing.

Make Repairs

To garner the highest possible market value when selling an old house in Twin Cities, You should have an inspection done and complete any repairs. Buyers want move-in-ready homes, and should they show any interest, they typically make bargain-basement offers on homes that require repair. Therefore, you should attain at least three estimates from professionals for any repairs and ensure they provide their timeline for completing the work. You’ll need this information to estimate your total costs for repairs, including the time you’ll be holding the property before it is market-ready. Repairs are no longer a concern when you make a direct sale to a company like Sota Home Buyers; we buy houses as-is for cash. Therefore, working with a direct buyer like those at Sota Home Buyers not only saves you from the costs and headaches of repair work but saves you holding costs, too.

Sota Home Buyers

Selling an old house in Twin Cities is easy when you work with Sota Home Buyers. At Sota Home Buyers, our experienced professionals take the time to listen and discuss any hurdles you face with selling your old house and help you figure out the best solution for your situation, with no obligation. Contact Sota Home Buyers at 612-293-3532 today!

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Buying Investment Property in Twin Cities? Here Are 5 Due Diligence Questions to Ask First

Thinking about buying investment property in Twin Cities? Investors must perform due diligence before closing on the property because it is your last chance to avoid purchasing a bad deal. Sadly, new investors learn these lessons the hard way, oblivious to the red flags that professionals recognize. These deals can escalate into financial disaster and court battles. Due diligence is an inspection of the property’s physical features and an investigation of all financial data to ensure everything is in order.

If you’re buying investment property in Twin Cities, here are five due diligence questions to answer before closing on the deal.

Time

How much time do I need? The period of days allotted in the transaction by law for due diligence efforts may not allow for a full investigation when buying investment property in Twin Cities. For this reason, it is advisable to request extra time to perform a thorough and complete due diligence process. You’ll want to ensure to allow time for whatever inspections may be called for, depending upon the type of real estate you are acquiring, and provide any inspectors, engineers, surveyors, and the like to ensure they will be available, allowing enough time.  

Differing Analysis

When you buy an investment property in Twin Cities for refurbishment, established rental properties will have records for examination. Due diligence calls for careful accounting by an experienced eye. And the property itself should be scrutinized by a certified inspector to catch things that you may very well miss. You’ll also want to cover all legal bases, such as ensuring a clear title on a rehabilitation project or endangered species on land development. When purchasing more significant rental properties, investors must examine management expenses.

Development Costs

Due diligence allows you to fully understand the development costs of your project when buying investment property in Twin Cities. If you are developing raw land, you need to answer questions regarding the buildability of the property. To rehabilitate an existing property, you’ll need time for a thorough inspection and review of financial records.

Demand in the Area

Due diligence questions should include those about rental rates for similar housing in the area to ensure accurate data. Location is paramount to success, but you should also consider the amenities and finishes essential to new buyers when buying investment property in Twin Cities.

Appreciation

When you are buying investment property in Twin Cities, due diligence questions will allow you to ensure the potential for appreciation that matches your goals for returns. A great way to find an average appreciation is to check the land value records for the past quarter-century and compare your parcel to the county average.

Repair Costs

Costs are affected if upgrades are called for to achieve the highest returns on the investment. Practicing due diligence when you’re buying investment property in Twin Cities should include professional inspections and estimates from three providers for the work. Don’t forget to calculate extra for what could go wrong, at least one percent of the property’s value. There will also be costs for the extended time you hold ownership until the repairs are completed, including paying all of the monthly expenses until resold.

It’s easy to see how highly differing investment types can affect the due diligence process when buying investment property in Twin Cities. You can rely on the experts at Sota Home Buyers for guidance, familiar with all of the necessary due diligence questions to ask, no matter what type of real estate investment in your niche. At Sota Home Buyers, you are welcome to ask us any questions or share your concerns, it is our passion to see you succeed, and there is no obligation for the call. Call Sota Home Buyers at 612-293-3532 or send us a message today.

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5 Selling Secrets From Professional Real Estate Investors in Twin Cities

When you’re ready to sell your home, it’s helpful to know some insider tricks to make the process fast, simple, and straightforward. By understanding what it takes to sell your home without going through weeks and months of trial and error, you can save yourself time and money as well.

Read on for the inside scoop on five selling secrets from professional real estate investors in Twin Cities.

The Price is Right

Our first selling secret from professional real estate investors in Twin Cities is to get the price right from the very start. Failure to do so may be much more costly than you could ever imagine. Should you set your price too high or too low, today’s highly savvy buyer pool will know and take it as a signal in either event that there is a problem with the listing. While it’s understandable that your home is worth a great deal to you, determining current market value is a systematic and business-like process comparing recent sales of more closely located properties that are the most similar to yours. A direct buyer like those at Sota Home Buyers will detail how much you’d make from a listing so you can compare it to our offer, which you’ll agree is fair.

The Stage is Set

The next selling secret from professional real estate investors in Twin Cities is to stage the home in neutral tones and create a blank canvas, allowing buyers’ imaginations to see the home as their own. Thorough staging typically requires renting a storage locker and placing all possible excess belongings within it, removing photographs and personal items. You also want to remove any larger pieces of furniture that may make rooms appear smaller than they are and empty closets and other storage spaces until they are only half-full to show ample space available to the new owners.

Quality Marketing

One more selling secret from professional real estate investors in Twin Cities is to invest in high-quality professional digital photography and 360-degree virtual tours. As buyers swipe past hundreds of listings, the photographs of your home are your first opportunity to catch their eye and make them stop. Although, of course, you’ll also want to make sure that you list your property on all of the top real estate sites, your buyer pool is now worldwide; to be found, you have to be there.

An Easy Show

Yet another selling secret from professional real estate investors in Twin Cities is to allow access to the property at the drop of a hat. You simply never know which buyer is the right buyer; you can’t afford to turn one away. So, if you’d rather avoid the hassles of showings and the expenses of marketing and staging, why not sell to a direct buyer like those at Sota Home Buyers.

No Repairs

Our final selling secret from professional real estate investors in Twin Cities, buyers will typically run the other way when they see a home that requires significant repairs. Should they stop scrolling and express interest in your property, their offer will likely be insultingly low, especially if you don’t have a realistic picture of the current market value. If you’d rather skip on the entire repair ordeal, prepare yourself for buyers who will seek outrageous amounts of credit off of the listing price for completing the work themselves. Direct buyers like those at Sota Home Buyers buy homes as-is, so you can skip the repairs and save your money.

At Sota Home Buyers, we are happy to share these selling secrets from professional real estate investors in Twin Cities and many more with you, with absolutely no obligation. Contact Sota Home Buyers at 612-293-3532 today!

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How To Buy Foreclosures in Twin Cities

Maybe you’ve heard about people making a living buying and selling foreclosures. It isn’t something you want to just jump into. There are processes and strategies that are far different than buying a regular home off the MLS.

This article will let tell you what you need to know about working with the banks and how to buy foreclosures in Twin Cities.

What Type of Foreclosure Do You Want To Buy?

There are three stages of foreclosure, and each requires a different strategy.

First, you have the house in Pre-Foreclosure, or, more commonly called a “short sale.” During this period, the current owner may still sell the home themselves in an effort to save them the pain of having the bank take their home. The homeowners are usually eager to sell but will want to recoup what they owe on the house so they are able to pay off the bank. Owners in this situation do not typically have much time until the bank comes knocking at the door, so you’re able to find a great deal, and help a fellow homeowner save themselves from doing horrible damage to their credit.

Once a home is out of the pre-forclosure phase, there will often be a public auction of the home. You may have heard of this happening on the courthouse steps, and while some auctions are now done online, others are done in person, some still on the courthouse steps. Purchasing an auctioned home offers both great risk and reward. The bank can only get back what is still owed to them on the house, they are not allowed to make a profit. If you are able to find a hidden gem, you can find a great deal, paying the bank only a fraction of what the home is worth. However, you must remember you are buying as-is. Without a proper inspection, you could end up buying a home in need of extensive repairs or that in encumbered with liens.

The third type of foreclosure is a Bank Owned REO (Real Estate Owned.) This is the most common as it is typically the easiest way to buy a foreclosed property. The bank will want to get this property off their books fast, however, the home will still be priced close to market value. You can definitely find great deals, but make sure the costs to repair and maintain the home don’t outweigh the deal you are getting.

Work With A Pro

If you are in the market to buy a home for yourself or your family, and you want to find the best opportunities, you will want to work with a licensed realtor. They can help you to work with the bank, set your terms and navigate the process of purchasing foreclosed properties.

They can help you find deals as they become available, and help to steer you away from homes with potential problems.

However, at the end of the day, you are ultimately responsible for the home you buy. This is why you will want to have your own, independent inspection done if possible.

If you are looking to buy a foreclosure for a fast flip, you might want to think about partnering with a seasoned investor who can show you the ropes, or work with a company like Sota Home Buyers who can help guide you throughout the entire process.

Get Your Financing In Order

Depending on the home, obtaining traditional financing might require you to jump a few additional hurdles. The banks are investing in you, and if the home appraises for a low amount, you might not be able to get the loan you’re after. Many foreclosure buyers deal in cash.

A cash offer can speed up the process by avoiding additional red tape from another bank. Many foreclosure investors deal only in cash, making the process highly competitive.

Making Your Offer

Know your limits. Sure, you might pay a bit more if you are trying to buy a home you want to live in for the next 50 years. But if you are only looking to flip, you will not want to pay a dime more than you have to.

You must have predetermined price guidelines you stick to. You are better off losing a deal than losing money. The banks will often ask you to submit your “highest & best” offer.

In essence, this is the bank, asking for all interested parties to submit their maximum bid. If you’ve ever bought anything on eBay, you’ll know those last few seconds, trying to get the highest price can be invigorating and stressful!

Don’t get caught up trying to outbid what you think your competitors will offer. Stick to your price, and walk away if you have to.

At Sota Home Buyers, our mission is to help you navigate the world of foreclosures and help you find a great deal. If you have any questions about the process, or if you would like to receive early access to deals, fill out

this short form ,or give our office a call now! 612-293-3532

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4 Major Repairs to Avoid When Selling Your House in Twin Cities

When you’re ready to sell, thoughts of what is wrong with your house, the desire to sell your home for a higher price may motivate you to make the repairs on your own to save money. Remember too, when you are selling, the disclosure form awaits, and you will need to advise the new owners of all of the work or face possible legal and financial consequences down the road. So if you’d like to avoid what could be a costly mistake and potentially life-threatening situations, it may be worth hiring a professional to get the job done right.

Additionally, should something go wrong, your insurance company might not cover the damage should you make the repairs yourself or hire a local handyperson. Therefore, before any work proceeds, it’s essential to review your policy and consider the value of hiring a professional and having a paper trail for your insurance adjuster.

Read on to discover four major repairs to avoid when selling your house in Twin Cities.

Electrical

While changing a light switch may be perfectly safe, when done correctly, significant electrical issues are top on our list of repairs to avoid when selling your house in Twin Cities for good reason; it’s one of the most dangerous and could cost someone their life. In addition, the slightest error in the installment could potentially cause a fire.

Plumbing

Besides the common issues with drain clogs, you should avoid plumbing repairs when selling your house in Twin Cities. Not only is there a severe threat of damage to your home from a newly formed fountain spewing out of your kitchen pipes or upstairs plumbing soaking through the ceiling, but you’ll also end up paying the plumber to repair the damage. Not only that, you’ll still need the original plumbing problem resolved.

Foundation

Without exception, you should hire a professional to make any foundation repairs when selling your house in Twin Cities because the foundation upon which the home sits is integral to the structural stability of the building. A mistake in making a foundation repair could take months or years to finally reveal itself, usually when it’s much too late to make a simple fix. While it may appear to be just a tiny crack to you, the eyes of an expert are always required, along with specialized equipment and processes to protect your home from extreme damage.

Roof

While it may appear to be a simple matter of hammering in a few shingles, you shouldn’t attempt roofing repairs when selling your house in Twin Cities. Regrettably, it is easy to make simple mistakes working on a roof that can cause heavy structural damage or cause leaks. Often homeowners will attempt to buy leak-stopping miracles at a local hardware store and delay proper repairs, which only adds to the final expense of getting the job done right. Unfortunately, without the appropriate equipment and no knowledge of proper safety protocol, many homeowners have fallen and been seriously injured in accidents while undertaking roof repairs.

Selling directly to Sota Home Buyers can help you avoid repairs altogether when selling your house in Twin Cities!

Sota Home Buyers saves you time; why wait out the repair process before you sell? At Sota Home Buyers, we guarantee our closing date, which can be in a matter of a few days or weeks.  

Sota Home Buyers saves you money, there is no need to worry about the repairs, we buy houses as-is and pay cash. Sota Home Buyers will make you an offer you’ll agree is fair, detailing what you would profit if you have the repairs made so that you can compare which best suits your circumstances. Contact Sota Home Buyers at 612-293-3532 today!

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4 Things to Watch Out for When Buying a Foreclosure in Twin Cities

Buying a foreclosure in Twin Cities can be a great way to make some extra cash… as long as you know what to look for. The process can require you to be much more diligent in your research of the house.

In this article, we will go over things to watch out for when buying a foreclosure so you can make a smart investment decision.

General Wear, Neglect & Vandalism

When a homeowner falls victim to foreclosure, they often fail to properly upkeep the home. The yard can become badly overgrown, pools improperly maintained and common repairs will go ignored. Everything from a minor leaky faucet, to a major leak in the roof, can affect the condition of the home. And once a homeowner learns that they will be losing their home, they are less likely to sink any money into fixing it.

Sometimes the banks can stall the sale of the home, leaving the property vacant for months at a time. You can expect major appliances to be removed by either the previous owner or by people who know the house is empty.

Even things such as copper pipes can be removed as there is a cash value for them. Sometimes, an owner who knows they are losing their home will cause damage to the house, either due to anger or in an attempt to retrieve items from the home after the bank has locked them out.

You can expect some broken windows and for items to be ripped from the home haphazardly.

Dealing With Dirt & Items Left Behind

In addition to the lack of routine repairs and maintenance, you can expect things to be dirty. It is highly probable the house will not have been cleaned in months. And with the possibility of broken windows, critters, dirt and leaves can find their way in, making a mess of the floors.

Sometimes, if a homeowner leaves quickly, or lacks the space for their belongings, things can be left behind. This includes larger pieces that you will have to move out yourself.

No Disclosures

You will be working with the bank to buy this home as opposed to the previous owner. Because of this, you cannot expect the bank to offer you any insight into previous repair work or issues with the home. The bank has never lived there. You will need to have your own home inspection done so can understand the home’s foundation, both literally and figuratively.

The bank is under no obligation to disclose anything about the home. They sell as-is, leaving you to deal with any issues that may arise.

Financing Hurdles

A bank will not give you a loan for a house that appraises lower than what you are paying. They will not see the value in giving you a loan for a property they consider uninhabitable. Many foreclosures are paid for in cash, by investors who want to fix and flip the home.

You can expect high competition from cash buyers who are able to work with the banks and quickly pay the amount for the home the bank is requesting.

Many of these investors flip homes for a living and will be able to get the inside track on when a good deal is about to hit the market. Position yourself by thoroughly educating yourself on the property in question, and what is required of you to make an offer.

If you are interested in making an investment in foreclosed properties,

fill out this form and a member of our team will get back to you! Or feel free to call our office anytime! 612-293-3532

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How to Sell an Off-Market Property Listing in Twin Cities

A traditional property listing isn’t the only way to sell your house in Twin Cities. As the population pushes away from larger cities, along with a pool of skimming over the rental phase typically experienced in earlier adulthood, opting for the benefits of more permanent housing with recreational amenities and a more home-based lifestyle driving the current seller’s market. Off-market or pocket listings aren’t marketed to the general public, add the allure of grabbing an exclusive opportunity for buyers, and may garner a higher sales price.

When you sell off-market, you control who knows your home is for sale and when they see it. There are far fewer showings by the very nature of being private, and the buyers who know about the off-market listing are likely to be much more serious about the property.  Listing your property off-market also tends to create an act now or never feeling.

We will share the inside scoop on how you can sell an off-market property listing in Twin Cities.

Commissions

Real estate agents love off-market listings because they can market the property exclusively to select clients and collect whatever commission you have negotiated in the contract. Additionally, because other agents in the Twin Cities market are unaware of the listing, they don’t have to split the commission with anyone else. They will earn the other side of the commission because they are bringing the buyer. You can avoid commissions altogether when you sell an off-market property listing in Twin Cities to a professional buyer like those at Sota Home Buyers.

Prepping or Repairs

Most buyers seek to move into their new home as soon as possible. If your home is older or maintenance and repairs are lacking, you as the seller must worry about passing the inspection and making repairs out of pocket before closing or taking a deep discount off of the asking price. Preparing the home for the showings ahead and making updates is costly. When you sell an off-market property listing in Twin Cities through a direct sale with a company like Sota Home Buyers, we buy homes as-is, so there is no more need to worry about repairs or even cleaning up. Sota Home Buyers takes on all the risk.

Agent Fees

Many agents also charge a fee for transaction processing and other expenses that agents may hide. When you sell your off-market property listing in Twin Cities to a professional buyer like those at Sota Home Buyers, they charge no agent fees. There will be no hidden fees to pay at closing; the offer will clearly outline how much cash you’ll receive at the closing.

Time

When properties are listed traditionally through the MLS, potential buyers can track the number of days the property is on the market. A great many days passing indicates to buyers that something is wrong with the property that the listing doesn’t disclose, typically resulting in bargain-basement offers, if any. The number of days an off-market property has been for sale is unknown to the buyer, which is one of the motivating factors behind off-market listings. Instead, sell fast to a direct sales company like Sota Home Buyers, closing on your private listing can be in a matter of days or whenever best suits your needs.

Sota Home Buyers makes it simple and straightforward to sell an off-market property listing in Twin Cities. We make the process easy! When you get an offer from Sota Home Buyers, we will handle everything, and we can guarantee your home will close fast, often in just a few days. Whether your home is older and needs repairs or you want to limit the number of strangers who come through your home, why not reach out to Sota Home Buyers and learn more about your options with no obligation. Send us a message or call Sota Home Buyers at 612-293-3532.

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Guide to Land Investment in Minnesota

When it comes to real estate investment, land is often times the overlooked step-child. There is amazing potential when investing in land that many investors never tap into! Learn more about land investment and strategy in our latest post!

There are many reasons to get into land investment. It can be an excellent way to begin investing or as a way to diversify an already robust portfolio. People from all parts of the country and in all income brackets are turning to land as a stable and limited resource. Is it right for you? Learn more below!

Guide to Land Investment in Minnesota

Land is Low Maintenance

There isn’t much you have to do when owning a piece of land. Maybe some landscaping so weeds don’t get out of control, but otherwise, it basically just sits there. Make sure to be aware if utilities or other expensive assessments will be enforced while you are in ownership of the land. You wouldn’t want to buy a $5,000 lot only to find you will be paying $20,000 (over time) to have water ran to it.

Easy to Get Started

You don’t need to have a ton of experience to get started in land. Do your homework and you should be able to find something for only a few thousand dollars. Learn about the market and see what lots are going for. Are there seasonal trends? What does future population growth look like? Are there development plans or changes in zoning on the radar? It is ready to be developed or is it raw land with no foreseeable plans nearby?

Why Is It For Sale?

Not all land is the same. Plots of land in one neighborhood might be impacted by completely different environmental factors. Protected animals might live on your lot and not your neighbors. This can inhibit your ability to build, thus lowering the value of the land. Maybe there are oil tanks in the ground or frequent flooding problems from the creek nearby. Make sure you learn as much as possible about the lot before making a purchase!

What’s Your Strategy?

Flip It – To flip land effectively, you need to buy low and sell high. You can do this by finding unlisted deals or directly contacting the owners of lots that appear to be overgrown and forgotten. The land may have been purchased long ago, and all but forgotten about until it’s time to pay property taxes. By reaching out to owners directly, you will be able to create a relationship and possibly take unwanted real estate off their hands. When contacting any property owner, always be respectful and respect their privacy. If they are not interested in selling, never harass or bother them in hopes of doing so. You should then market the property to retail buyers. People who want to build a home on the site for themselves, etc.

Buy And Hold – Land is an excellent investment to buy and hold. It will typically appreciate over time and is very simple to maintain. Your primary expense will be property taxes which are significantly lower than taxes on a home. You can hold until land values see a considerable jump or development plans are put into place.

Lease It – Another option when owning land is to lease it to a party that has a use for it. This translates into almost 100% for you. Some interested parties might be farmers, hunters or a nearby business looking for parking. Obviously, you will need to make sure the lot is zoned for what your renter intends to use it for.

Are you interested in buying and selling land in the Twin Cities area? We would love to help you!

Send us a message with your investment goals or give our office a call now! 612-293-3532

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5 Tips for Sustainable Investment Growth in Minnesota

Many people get into real estate investment thinking they will instantly strike it rich. This is rarely the case. There is much more work that goes into successful investment growth. In our latest post, we will explore ways to accelerate and amplify your real estate investment success.

Real estate investment is a great way to bring additional income to you and your family. The trick is not only to find great investments but to find investment opportunities that provide sustainable growth. You don’t want to invest your money somewhere that has the potential to lose all of its value overnight. Keep reading to learn some great tips to secure sustainable investment growth!

5 Tips for Sustainable Investment Growth in Minnesota

Tip #1: You Are Running A Business

When you venture into the world of investing you are in all reality, building a business for yourself. It should be treated as such. You should dedicate time to your work and deal with people in a fair and consistent manner. Focus on your job at hand and don’t get caught up in the details. Sometimes you have to rely on your head over your heart when it comes to investment, and this isn’t always easy for newbie investors to manage. In real estate investing, time really is money. Market prices can fluctuate quickly. You will want to be able to swoop up great deals as they become available and unload properties you want to flip in a timely manner. The longer you hold a property, the more it will cost in the long run!

Tip #2: Have a Plan

Just like any successful business, you should have a business plan. This will help you create goals along with actionable steps to get you there. Ask yourself these questions:

How many properties do you want to own?

What kinds of properties do you see yourself investing in? Single-family? Multi-family? Commercial?

Will you require the help of a property management company?

What locations will you consider investing in?

What is your price range?

What size property are you after?

Do you want to buy and hold or go for the quick flip?

What is your exit strategy?

Are there other partners involved? How are profits divided?

You should have clear answers to all of these questions with as much thought put into it as possible.

Tip #3: Build Your Power Team

Once you begin your investing journey, you are bound to meet lots of professional along the way who can help you. It is important to foster and nurture these relationships so you can find the professional YOU want to work with. On your team, there should be an agent you turn to when the situation arises. A lawyer whom you consult with on all deals. An accountant who keeps all of your books in order. And a lender who will be there with the funds when you need them. By surrounding yourself with a team of people you can trust (and enjoy working with) will streamline your processes and make things much easier for you!

Tip #4: Find A Mentor

Building a relationship with someone who has been in your shoes, can be invaluable to your success. Your mentor should help keep you motivated, provide you with advice on potential purchases, and help you avoid making costly mistakes. You will learn more from someone who has done it all than you would in any book.

Tip #5: Don’t Be Afraid To Stay Off The MLS

Some of the best investment deals are found off the MLS. Many are “For Sale By Owner” properties you can find at a great price. Look to work with private owners and utilize other real estate websites in your search.

Are you interested in investing in the Twin Cities area? If so, we can help!

Send us a message

outlining your goals or give our team a call now! 612-293-3532

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5 Ways to Buy Investment Property in Twin Cities When You Have Bad Credit

Bad credit doesn’t have to derail efforts towards building passive retirement for your income through real estate investments. While conventional lenders may turn you away over your past transgressions, they are not the only option available for funding investment property. While the perfect scenario would be to repair your credit issues and then gain financing on your own at lower interest through conventional methods, this could take years. The sooner you invest, the sooner you can increase your current cash flow and the more your long-term returns will be.

Read on to discover five ways to buy investment property in Twin Cities when you have bad credit.

Partner Up

Networking, gathering with like-minded Real Estate Investors allows you to begin building Connections in the real estate industry. Having a support team around you that you can rely on is imperative to success as an investor. By spending time getting to know other investors, you can find someone you click with and offer a partnership, bringing the skills you have to contribute to the table, with their financial backing to buy investment property in Twin Cities when you have bad credit.

Private Loan

A private loan is a secured contract or a mortgage created by a private individual that may be a friend or family member or by an investment firm that will allow you to buy investment property in Twin Cities when you have bad credit. Because of the risk, they can charge you a higher interest rate, though there are limits in place setting a maximum amount allowed. The lender will benefit from helping you through the passive income they will earn on your repayment of the principle and the interest over the life of the loan.

Borrow from Family

Family is often ready to help you buy investment property in Twin Cities when you have bad credit because they understand that an investment for a more extended period allows it to earn higher passive income. Providing for a better life quality during your retirement years is their desire on your behalf.

While handshake agreements among families are often acceptable, it is wise in such a financial matter of import to have the loan secured by a promissory note to avoid any possible issues down the road. Typically these loans carry a much lower interest rate than you would otherwise be able to qualify for, with a poor credit score. The IRS has set a minimum on the amount of interest that The IRS will impute upon the lender if they do not charge interest to you on loan.

Sell Other Assets

It may be time to trade in your treasured collection of baseball cards to buy investment property in Twin Cities when you have bad credit. If you don’t happen to have a valuable collection or a vintage car to trade in for investment property, you would be amazed at the gems you can find when raising funds. Necessity often forces people to discover just what they have in all those boxes. You may be surprised at the value hidden within what they consider dust collectors sitting in the corner of an attic or basement.

Work with Sota Home Buyers

The experienced professionals at Sota Home Buyers make it easy to buy investment property in Twin Cities when you have bad credit. Sota Home Buyers has inventory available, and private lenders are looking to work with people who can find deals with high returns. Working with Sota Home Buyers means you can still purchase investment property no matter your credit score. At Sota Home Buyers, we are happy to answer any questions or concerns you have with no obligation. Just call Sota Home Buyers at 612-293-3532 or send us a message today!

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Dealing With Bad Tenants in Twin Cities

Owning a rental property is an excellent way to generate extra income for you and your family. However, if you are faced with bad tenants, your wonderful investment can quickly turn into a nightmare! In our latest post, we will provide you with our favorite tips for dealing with bad tenants!

Do own a rental in Twin Cities? Are you sick and tired of dealing with tenants who aren’t on time with rent or who are destructive to the property? If you have ever experienced a tenant like this, you’ll know it can quickly make you regret owning the rental in the first place! Usually, problems can be remedied on your own, without having to involve outside parties.

How to Deal With Bad Tenants in Twin Cities

Try To Be Understanding

While you should treat your investment(s) like a business, there is a time and place to be human. Sometimes good people find themselves in a tough situation. If an otherwise wonderful, long-term tenant is late on rent, you don’t necessarily have to evoke the highest penalty outlined in the lease. If you have an excellent renter with only one minor infraction, it is best to overlook the problem as opposed to potentially losing a great tenant.

Stick to Your Guns

You can only be understanding to a point. Once it goes beyond that, you might find that you are dealing with a tenant who is looking for ways to skip out on rent or repairs. If you let someone pay rent late once, they are likely to want to do it again, and again, and again… Be firm with your policy regarding rent payment. While there are situations where you can be flexible, simply not having rent isn’t an excuse. This can be one of the most difficult parts of being a landlord and why many investors hire a property manager to collect rent on their behalf.

Document Everything

Any and all interactions should be recorded and saved. Write down conversation notes with a time and date, save all texts, emails and any written contact. Take pictures as needed. In situations where damage has occurred or repairs are required.

Hire a Property Manager

As mentioned above, hiring a property manager can take the pain out of collecting rent. However, that is not all they do. A property manager will: screen prospective tenants, take care of maintenance, advertise your rentals, handle tenant issues and complaints and even deal with the eviction process on your behalf. If you are managing multiple units, hiring a property manager will save you a ton of time and headaches!

Eviction Process

Hopefully, you won’t ever have to deal with the eviction process as a landlord. It is a long and stressful process that varies state to state. First of all, you need to have a good reason to ask the tenant to move. They need to have broken the lease or be behind on rent. At NO point are you allowed to take matters into your own hands, even if they are causing property damage! You will need a court order to remove the tenant’s belongings or change the locks. You will want the courts to see you have done everything right so that they will have no choice but to be on your side in the matter. You will need to provide a formal notice of eviction that includes the day they need to pay by and the amount owed if they want to stay. Place it on their front door and send certified mail so you can prove it has been received. You will have to file with the courts and go through a hearing if the tenant still refuses to move. It is at this point you will be glad you documented everything!

Bad tenants are few and far between. With careful screening and an iron-clad lease, you can ensure a peaceful living environment for all of your tenants!

Are you dealing with bad tenants in Twin Cities? We can help!

Send us a message

or give our office a call today! 612-293-3532

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How to Get Financing for Your Twin Cities Investment Property

Time waits for no one. Nowhere in life is this more true than taking measures to ensure your passive income during your retirement years. By taking action, you will have the ability to tackle your bucket list as well. It is more critical that you get started sooner rather than later because the amount of time you invest vastly increases your potential lifetime investment earnings.

Gaining a foothold on your future through financing can allow you to build wealth earlier and wise real estate investments. Your passive income will let you ride the waves of any future economic hardships and inflation with ease. We will explore some of the ways that many investors use to get financing for your Twin Cities investment property.

Partner Up

As a newcomer to real estate investing, it may be beneficial to you in many ways to get financing for your Twin Cities investment property by offering your skills or labor as your contribution to a partnership as you learn the ropes.  It’s essential to take a practical examination of the skills and knowledge you bring to the table so that you can strengthen any of your weak links by finding a partner with strengths in those areas. By consistently networking at events and building relationships with other like-minded investors, you can find an experienced investor with the drive and skills that make them a great partner for you.

Private Loan

A private loan is another way for you to attain funding for your Twin Cities investment property. Created as a secured mortgage note or a comparable contract between private individuals specifically for a real estate purchase, this type of loan allows borrowers to circumvent the red tape and stringent requirements of conventional mortgages. The attraction for the lender is passive income earned through the interest earned on the mortgage loan.

Borrow from Family

Wanting to see you succeed, family members often offer to finance your Twin Cities investment property. Or, should you ask for assistance, they are willing to do so because they understand that your efforts now can mean living life on your terms in your golden years. Your loved ones want to give you the benefits that long-term investing provides, knowing you will live in the style to which you have become accustomed. The best part is that your offer comes without the contingencies most contracts contain for loan approval. A private loan equals a cash offer in the sellers eyes because you have already secured the financial backing,

Sell Something Else

Getting an earlier start building your investment portfolio is more wealth which sometimes requires personal sacrifice. While your project car may be valuable and dear to you, it will not bring you the passive income you can achieve by using your collectible asset as financing for your Twin Cities investment property. Take inventory of your assets. Don’t forget to go through all of the boxes in storage units, the basement, or the attic. Take the time to research what you may consider dusty old family hand-me-downs. They could be hidden valuables.

Ready to get started? You have to begin somewhere building your credit and wealth, and there is no better time than right now. While it is not always easy to reach out and ask for help, there are times in life when we all need to ask for support and guidance. The experts at Matt Buys Houses MN can help you find a way to finance your Twin Cities investment property. At Matt Buys Houses MN, we are happy to answer your questions and concerns with no obligation. Working with Matt Buys Houses MN makes real estate investing easy. Just call Matt Buys Houses MN at 612-293-3532 or send us a message today!

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Costs of Selling Your Twin Cities House With an Agent vs. to an Investor

The decision to sell your home is a big one. Now that you’re ready to sell, you must consider the method you select to sell your home. While most homeowners first thought is to call a licensed real estate agent, why not consider the alternative of selling to a professional investor, like those at Matt Buys Houses MN.

Real estate all comes down to the numbers, so it is helpful to understand the differences in the costs between selling your Twin Cities house with an agent versus to an investor.

Agent –

Marketing expenses for selling your Twin Cities house with an agent are part of the listing contract. They outline all of the steps that the agent will take towards selling the home, which can vary significantly by property.

Listing costs will include anything you must do to prepare to sell your Twin Cities house with an agent. These listing costs could consist of simple cleaning so that it is in ready condition for showings, to significant updates to the home’s interior, appliances, or more. Often, an agent will recommend sellers invest in renovations modernizing the features of a home to meet the demands of technology. Other amenities they may suggest space for two home offices or even the addition of a study area for school-aged children.

Repairs for any issues with the house will come out of pocket before closing. If the inspection revealed problems with your home that you were previously unaware of, you would also have to pay to complete these repairs. Otherwise, the lender will not approve the loan in many cases. Alternatively, you can expect the buyers to respond with their estimated costs for these repairs deducted from the offer. Avoiding this surprise can be achieved by hiring an inspector.

Staging expenses cover the cost to depersonalize the space, which enhances selling your Twin Cities house with an agent. Buyers who tour the home can easily imagine themselves occupying a home free of personal items or showing a distinct personal taste in decor. You may also encounter storage costs to clear your home of excess belongings.

Advertising expenses should be discussed and agreed to before signing the contract when selling your Twin Cities house with an agent. These costs include professional photography for the high-quality images buyers have come to expect as they search listings online and professional drone pilots to provide 360-degree virtual tours.

Commissions are paid for professional services provided, including marketing, paperwork, arranging for inspections, appraisals, and doing all of the footwork to bring a buyer to the door and finally the closing table when selling your Twin Cities house with an agent. You can expect to pay a total of around 6 percent of the sales price in commission.

Holding costs for the duration you have listed your Twin Cities house with an agent can quickly add up, especially if you have had to relocate. Suppose your reasons for selling are financial. In that case, the longer that the listing lingers on the market, the more monthly payments for the mortgage, insurance, and taxes, and all of the utilities you will continue to carry. The strain of this situation can cause restless nights and extreme stress for your entire family.

Investor –

An investor has none of these expenses! And because investors pay cash and buy your house as-is in most cases, you can close fast, sometimes in a matter of days!

With little closing time to worry about, it is easy to see how selling your Twin Cities house to an investor like the professionals at Matt Buys Houses MN saves you time and money! Ready to sell your Twin Cities house? Call Matt Buys Houses MN at 612-293-3532 or send us a message today!