California Wholesale Real EstateCalifornia Wholesale Real Estate: Now that you’ve purchased a piece of property, it’s time to put your super strategy into play. If you’ve decided to flip it, rehab it, or rent it, there’s a plan to be followed. If you plan to flip it, you can wait for the home prices to go up in the area before you sell. Wait until you think you can get the price that you planned to get. The only thing you’ll need to do is keep the lawn mowed. The utilities don’t need to be on unless you are ready to show it to potential buyers.

If you plan to rehab it you can start the process right away. As soon as you have performed the planned repairs and remodel projects, you can put it on the market for sale. Some investors will begin the repairs and place it on the market while they work. They offer the place for sale at climbing increments according to how much of the repair work has been done. The price goes up with every repair.

When you applied for the loan you may have given the bank an estimate of the repairs that needed to be done. The contractor that wrote up the estimate for you doesn’t necessarily have to do the job for you. You can hire someone cheaper if you’d like to, but be sure that the work gets done and in a timely manner.

Maybe you’ve decided that it’s going to be a rental unit. You can determine how long you’d like to rent it. If you want to flip it but need to rent it out for awhile while you wait for the market to improve, you will want great tenants.

A simple neon orange sign that says ‘for rent’ will work just fine. Place it on a stake in the yard with your cell phone number. When someone calls with interest in your unit, just meet them to show it to them. If they are interested (and you are interested in them as tenants) give them an application to fill out.

You can get applications to print out online or at an office supply store. They usually have the typical details on them that you would be interested in knowing about your potential renters. Lease agreements are also available.

These are simple explanations of what your strategies might look like in practice. It isn’t too difficult, but you do need to follow through with what you start if you want to see success.

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