Creating a Simple Data Sheet4 min read
Today’s buyers are using mobile apps and websites to research and find properties. And that means that buyers are not interested in reading a series of huge, long paragraphs to discover what your property has to offer. You need to think of your data sheet as a super-efficient commercial for your property. And as such, it needs to present all of the important information in a very easy to recognize and understand format.
One of the fastest ways to grab potential buyers attention is with a picture. Get a great shot of the outside of the property or an amazing one of a kind feature inside the property. In addition, buyers are going to want to know the complete address, the asking price, the square footage and the number of beds and baths. It can also be helpful to include the year of the original construction.
For investment properties, there is a little bit more information that you should provide to grab the attention of investors. And remember that these people are not looking to have an emotional attachment to a property like a homeowner. These people are emotionally attached to numbers and profit. You already listed the asking price, but you need to include an estimate for closing costs as well as an honest estimate for renovations that are needed. This gives investors an idea of the total cost to get the property and the have it turned around to be earning income.
Investors will also appreciate any information that you can provide on the operating expenses for the property. This saves the investor the time of tracking down the numbers and helps you to know that an investor who calls you is really serious about a purchase and is not just thinking about getting more information. These numbers can include the annual taxes, insurance, and any management fees that you have paid for the property.
The final piece to really get an investors attention is to provide a realistic estimate of the monthly rental income and the CAP rate for the property. A high return on investment is the best way to get investors excited about a property and even create a bidding war to buy your property. And all of this is done with a single document that can be printed or viewed online in just seconds.