Looking Out From the Garage: 180* Turn...

180* Turn...

I had a great thought for a blog post.  I was surfing some of my daily reading, and ran across an item and after a few synapses fired in my brain... unrelated post idea sprang to life.  So, I jumped into my Admin Panel, ran across a particular spam comment...

New Subject...

(the other subject will be on LilburnDwellings.com in a little while)

The spam in question was from someone that "buys homes for cash to help home owners."  The part that is funny is that I can see the email address they leave in order to get the comment posted (Askimet caught the comment as spam and it never posted).  His email was loball@hisdomin.com (not the actual one, but close enough).

So, the point is that he must be a heck of a guy.  Beat someone into the ground on the offer for their house... after all, they are in trouble.  And then tell them to email you at "LoBall."  Nice.

Just so you know...

The sign along the side of the road advertising that they will buy your home for cash have a catch...  And the catch is the price.  Typically, they don't want to spend more than 70% of what they think they can fetch for the property in current condition.  For some people, the fact that they close fast is worth it.  But don't think they are giving you a market price. In fact, I'm hearing of a lotof them that are under 70% in the current climate.  I don't blame them too much... their costs for carrying them are increasing as properties can be harder to move.

Most agents know a few investors that may actually beat those kinds of offers.  Not by much... but instead of flipping, they are looking for homes to rent out.  Their primary concern is that the house "cash flows positive."  That means that they can rent it out for more than it costs to carry it.

The important thing to remember is that if you are in trouble, talk to someone before it gets out of hand.  Talk to your mortgage company.  Talk to a real estate agent.  Find out what your options are BEFORE you run out of options.

 

from LaneBailey.com

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Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

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Comment balloon 0 commentsLane Bailey • October 14 2008 08:00PM

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