Employing batch skip tracing post COVID-19 as a real estate investor can help you maximize profits.
The COVID-19 pandemic affected the real estate industry as fewer sellers were interested in allowing people into their homes for an open house sale or list their properties.
Also, fewer buyers were interested in searching for houses, and homeowners that might have been willing to sell their properties.
With the lockdown eased and movements restored, the real estate industry is experiencing a boost in activities as real estate agents and potential sellers are going about their business while keeping safe.
EMPLOYING BATCH SKIPTRACING POST COVID-19
Batch skip tracing is the process of finding homeowners whose properties are not on sale but have high motivation to want to sell their property to you. How do you know homeowners with higher tendencies to make a sale? Identifying property owners that would likely sell to you is easy if you know exactly what you are looking for.
Example of such homeowners include:
- Homeowners that just got married.
- Homeowners that just had a new addition to the family and are in search of a larger home.
- Old homeowners looking for privacy and peace of mind and would prefer a smaller home.
- Homeowners being held in a long-term facility and are looking to sell off their property.
- Homeowners who recently came to inherit a real estate property after the death of a relative.
- Those that recently got divorced.
- Homeowners that are falling behind in their mortgage and tax payments and would rather sell their house to pay off their debt.
- Owners with multiple properties and therefore have one currently abandoned.
The list of potential sellers is endless and different circumstances can come as an opportunity to make a pitch and land valuable sales.
WHAT HAPPENS AFTER?
So, you located the homeowner using a quality skip tracing service and have been able to convince the seller to sell you their property, what next? A home inspection is very vital for every purchase you wish to make to your portfolio. Having a thorough home inspection can help you make a final decision and inform you of the state of the house you are about to purchase.
Advantages of a home inspection include:
- It reveals the hidden cost of maintenance and repairs that may be required to put this house in a good state. This extra step can help you save a lot of money.
- It helps to tell the safety level of the house and reveals any health hazards that may be present such as molds, carbon monoxide, radon e.t.c
- It serves to predict future expenses by helping to forecast the “shelf-life” of vital systems within the house such as the plumbing system, cooling, and heating systems e.t.c. Knowing what requires immediate replacement can help you determine what sort of home insurance coverage to get for the property.
Conclusion: Batch Skip tracing is still an important tool to have in your arsenal as a real estate investor post COVID-19. We hope that this article showed you how to batch skip trace in real estate.