Sometimes opportunities are created by national disasters, and in today's blog update, we're not just talking about a national disaster, but a world pandemic. During these very trying times, it's always best to look at the bright side of things and look for opportunities. Today we'll cover how there is a big opportunity for real estate investors to come in and help homeowners out of their situations now that some of the larger players are sitting on the sidelines.
How to Take Advantage of the Coronavirus Real Estate Market
Our last update delved into the statistics provided from the National Association of Realtors and how Coronavirus affected real estate listings.
Today, we are reflecting on an article posted on MSN.com that detailed the story about how Zillow's Offering service, which works in 24 markets, is putting a halt to home buying in an “effort to preserve capital.”
The Zillow Offers service makes almost instant offers in 24 US markets for a fee of 6-9% plus closing costs. The way it works is very simple: you request an offer, which is non-binding, and within two days you will get a reply. Typically you have three days to accept or deny the offer, and if you indeed decide to sign the offer, closings occur within 7 to 90 days.
How Can Real Estate Investors Benefit From This?
At BREIA, our mentoring programs teach investors of all levels how to buy and sell real estate for a profit. With big players like Zillow sitting on the sidelines during this trying time, it only creates more opportunity for people like us to help struggling homeowners avoid foreclosure, as well as pick up an investment under market value.
Over time, national disasters, such as hurricanes here in Florida, have created a wealth of opportunities in real estate for people who keep a watchful eye on the market. Rather than sit on the sideline during this tremendous opportunity, check out one of our workshops on our events page (which are done virtually for the time being, so there is no travel needed) and see how you can get involved with South Florida real estate.
There are only a handful of opportunities like this over our lifetimes, and with big institutions in holding patterns, this makes the opportunity for us even greater.