Every property is unique in it's own way. Some properties need more work than others, in different locations, bigger, smaller, you get the drift.
Creating equity in a property has to be done by having knowledge of a local area and the values that can be created in that local area. Does the property need certain updates or not to get to the top value?
Even in the Cleveland Metro area property values can fluctuate from street to street. A great example is Parma, Ohio. A property can be worth more on some streets than others. There are cities that surround Parma and the closer the property to each city affects the price of the property.
That is why it is important to know that whoever is buying your property understands the values in the areas you are considering buying in.
The other major consideration is rehab and how are you going to budget and get the property completed.
That is why Zillow stopped buying homes in a large way. Every piece of property requires different attention and has a different value.
I ran into a company that was buying a ton of real estate 5 years ago. I met with them and they needed a lot of real estate and were buying a lot also. After I listened to their real estate needs I told them that the amount of real estate they were buying was not manageable. They could not control cost and they were not detailed in their buying.
When you're buying or selling real estate you need to know what the value is and what it could be. Cost is another factor that you need to know on creating a value.
That is why I am a Realtor and understand values. Doing literally 100's and 100's of homes I understand the Cleveland Metro area. Need real estate in Cleveland? Need to Sell your Real Estate in Cleveland?
Call Me (Brett) 216-703-5740 Fathom Realty WE also BUY HOMES FOR CASH STILL or just sign in below
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Thank you