Let me just start off by saying selling your house for cash to a real estate investor is not the right solution for everyone. Often times an investor (like me) who is looking to pay cash for a home has a goal: find a house for the lowest price possible, fix it up, and then sell it for a healthy margin. Unfortunately, this goal is sometimes at odds with what the homeowner would like to happen - namely, to sell their house for the highest possible price. And because of these "competing interests", some unscrupulous real estate investors have given the business a bad name by preying on homeowners who are in difficult situations and have no choice but to sell their house. Nobody wants to feel like they were taken advantage of or ripped off.
That's why, when I invest in real estate, I always look for a win-win situation.
"But Jacci, what is a "win-win" situation?"
I'm glad you asked! A win-win in this case is when both the investor and the homeowner leave the transaction feeling good about what transpired. Here's a quick story that will help illustrate my point.
The Story of the Really Nasty, Totally Smelly, Make-You-Gag House
I once paid cash for a house that we rehabbed (that's investor-speak for fixed up) and sold. It was in a very desireable Appleton neighborhood, near great schools, with great walkability, and certainly yielded a profit because I got a very good deal on it.
You might ask how I beat out all the other investors competing for good deals in the area. Did I have an in with the owner? No. Did I use hypnotism to convince the owner to sell it to me at a bargain basement price? No. Did I do anything shady at all? HECK NO! I'm as straight as they come, because I value my reputation, I know word travels fast, and, well, I'm just like that for real! But on top of that, I didn't have any competition from other investors to buy this house.
In fact, not only did NOBODY want to buy this place, but the owner was almost ready to GIVE IT AWAY!
Let me explain. The house was owned by an elderly person, who, unbeknownst to family and friends, was suffering from severe dementia. When they died, their daughter inherited the house, realizing only then how serious the illness had gotten. The parent had turned to alchohol to deal with their declining health, becoming a virtual hermit and descending into a completely sedentary lifestyle. Not only that, but the parent had been living with several animals (cats, dogs, even one of those crazy ferrets) who had the run of the house. The result - a house that was filled with feces, trash, mold, water damage - name a problem, and this house had it. In fact, the smell was so disgusting, you could hardly walk inside without gagging. The ammonia was dangerous that our crew needed to wear full respirators when working in the home.
Just picture that for a minute. Ugh!
Now put yourself in the shoes of the woman who had to deal with this. Not only had she just lost her parent, but she realized that she now had a property that was a health hazzard on her hands. She was alone in a town she didn't live in (she moved out of town years ago) and unsure of what to do. To top that off, every investor she called to look at the house made her feel so bad about the condition of the house that she got off the phone crying almost every time. Now that just stinks.
So when I met with her, looked past the nastiness of the situation, and told her I could make the situation work, she was ecstatic. She almost didn't care about the price (although I gave her a fair deal), she just wanted the problem off of her hands. She wanted somebody to treat her like a human being. She wanted someone who empathized with the situation and was able to tell her what COULD be done instead of what COULDN'T be done. And I'm happy to say that's what I did. We came to a fair deal, and she got out of a horrific situation. She can rest at night now, I was able to help her, and when all the renovation was completed we invited her whole family to come back and see the home completely restored and beautiful. It was wonderful closure for them in this sad loss of a loved one and their family home.
I call that a win-win for everybody!
DO YOU HAVE A PROBLEM HOUSE IN APPLETON, GREEN BAY, OSHKOSH, OR THE FOX VALLEY? FILL OUT THE FORM BELOW AND LET'S TALK ABOUT A WIN-WIN SITUATION!