Sundae’s marketplace is the fastest and most cost-effective way to find your next investment property. But what about winning it? This guide brings you all the tips and tricks for landing a deal.
Sundae’s marketplace brings you a curated set of underwritten off-market properties that are ready for bids. But we all know winning a deal takes some investor gymnastics, and sometimes that means employing more than one strategy.
Here’s a list of tips for winning a deal on the Sundae marketplace.
1. Your Investor Advisor is your advocate
Sundae’s Investor Advisors (IA) are always here for you. One of the best strategies to winning a deal is constantly reaching out to your IA. Call, email, or text them for new property listings, stats and data on properties, and market trends. They can offer you a variety of reports, including flip duration, number of deals made in your market per month, number of bids per property, and how quickly flips sell, to help you leverage the power of data and make an informed bid. We also recommend setting up a recurring check-in with your IA and pinging them for stats on a deal you lost.
2. Timing is key
When you see a property go live, consider your strategy immediately. Offers are due in three days, and the highest one wins. Bid in advance and ask your IA if offers are in the range. If they say it’s too low, give yourself time to do more analysis so you can come back with a higher offer.
3. Put your best foot forward first
Come in strong with your highest bid. You might be used to starting with a lower offer thinking you’ll get the chance to come back with a higher offer, but there’s no negotiating with the homeowner in a direct opportunity. With standardized terms, price is your most powerful weapon so be mindful that every dollar counts.
4. Consider your strategies then be decisive
A competitive advantage can come in many forms. Flipping is an art and a science: Be creative during your due diligence with your remodel and exit plans. Think about what can bring you the best revenue on your flip. But when the time comes to submit your offer, it’s best to commit to one path.
5. Keep an eye on communication
- Add Sundae’s email address, [email protected], and your IA’s email to your contact address book in your email. This way you won’t miss a single deal that lands in your inbox or Sundae’s newsletter.
- Join our Facebook groups for an exclusive look at upcoming Sundae properties.
- Check out the Investor Blog. It features insights, tips, education, and advice from experts.
6. Have your capital ready
Before placing a bid, have your cash or finance plan ready. Or, use Sundae’s lending services to make your offer more competitive. We offer low costs, simple and fast processes, and reliability. On top of this, we will include Sundae’s buyer premium as part of your purchase price, when it comes to leverage.
7. Don’t leave money on the table with a conservative ARV
- Know your market. Inventory is one of the most important variables to consider. Lower inventory could mean more home price appreciation,
- Style matters. Pay attention to the potential character of the property, one design type often has more value.
- Weigh any potential advantages. Views, pools, and lot size can carry big price swings in your favor!
8. Use urgency when it counts
Not all Sundae deals are sold highest and best, some have a “buy it now” price and are sold first come, first serve. So if you are finding that you often struggle with competing on price, then you should focus on speed and compete more on the “buy it now” sales.
9. Don’t give up and be patient
You only get better on Sundae’s marketplace and flipping. We want you to win. Continue bidding and reaching out to your Investor Advisor to see how the property you just lost performed and what to do next. They can offer helpful insights and data.
Ready to place a bid? Email your dedicated Investor Advisor today.
Want to get onboarded? Email [email protected] or visit investor.sundae.com to begin the process.