If you are planning to invest in properties, you will need to learn to read real estate listings. If you are an experienced realtor, you can easily unravel the code in property descriptions. Otherwise, you will find those listings as bare frames. But, knowing how to read between the lines of a property description will let you write down your own high-conversion rental listings. When searching for a property to invest in, make sure you watch out for the following:
Pictures of the Property
Check if the listing includes photos of the property. If the listing is posted without photos, the intention might be to hide major flaws in the house. Perhaps the home has cracked walls or crumbling siding. Unless the agent is marketing the property as a cheap tear down property that you can flip, ignore listings that do not have photos.
A Custom Home Description
Usually, homes marketed as custom indicate inconvenience for the new owners. This is because custom homes have been improved based on the taste of the seller and you might have to have some serious jobs to change things. For instance, the current owners have installed a shower stall next to the fridge or painted a half wall for a beachy vibe. If you think that dealing with this stuff is too much for you, move on to the next listing. Also, it is best to work with real estate experts like Béatrice Baudinet.
Tenancy
If a property has current tenants, you might assume they are well-appointed and you can turn around and rent the property out again right away after buying it. However, not all property owners are responsible and properties with existing tenants can usually spell disaster.
For instance, photos included a listing of a tenant-occupied property can be from before the tenant moved in and turned the place into a mess. Keep in mind that poor upkeep can cause structural damage to the property.
Coziness
A listing that advertises a proerty as “cozy” should be a red flag. This is because cozy is usually a word that realtors use for describing a small space. If you are looking to rent out the property to single people on a budget, this kind of home might work for you. However, the word “cozy” could also describe a studio apartment in a big city which might just as small as an improved closet. Moreover, home listings which include the word “cozy” may include terms such as “efficient kitchen.” Unfortunately, this kitchen could mean a little room for navigating around the flames and utensils.