WE BUY HOUSES

November 17, 2016

 

You've seen it.  The infamous "WE BUY HOUSES" sign in your local neighborhood.  I'll tell you a bit about what this sign means.  This is often referred to as a "Bandit Sign".  As many times posting these signs are always legal, wholesalers and investors are often referred to as bandits for posting them all over highways, light poles, trees etc.... These signs are designed to drum up calls and interest from "motivated sellers".  The idea is that a seller who is motivated to sell their property would call and the "bandit" or wholesaler will offer them a cash offer at 65%-75% of the value in order to 1. resale the contract to an end buyer at 85%-90% of the value.  2. purchase the property, rehab and hold the property as a rental with the ability to refinance with a commercial or conventional lender for 75%-80% LTV.  These percentages are estimates and there are many other scenarios that could go into a deal when a "bandit" receives a call from a "motivated seller"

 

Thanks for reading.....Happy investing

 

IKRE,LLC

 

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