Selling house to an investor?

[the spindoctor]

Anyone done this before? Other than getting lowballed, any scams or shady stuff to watch out for? The house needs more work than I can afford to do now, and would likely be hard for borrowers to to get financing for as is. The investor option just seems like a quick, easy option.

Thoughts?

[DON SVO]

My fathers house sold to an investor. I actually came out about where I expected to be prior to improvements so it was a break even and I didn’t have touch jack shit. I got cut a check at the title office and we we done in literally 6 days.

[svauto-erotic855]

Douchebags are profiting from your misfortune. I would rather sit in a house that's falling down around my ears then sell it to one of those guys. They remind me of the cash for gold stores that you see everywhere.

[bcoop]

I’ve got an investor, if you want to send me contact name, number, and email, I’ll have him call you.

[Gasser64]

Douchebags are profiting from your misfortune.

C'mon man. That's how the game is played. One day you're the douchebag, the next day you're the... the... well you know.

[MustangPoser]

I would recommend you find a BEGINNER investor. Have a BUNCH of investors come by and ask them for an offer and you will get back to them in two weeks. Find the highest bidder.

My dads friend looked at investors for a house with comps at 350k while living out of state. The investors I sent him all low balled around 270k. He felt insulted, tried to flip it himself - he gave a 10k deposit to one guy for the kitchen who was arrested a week later smoking meth in the garage at 3am. It took him a year to sell and while he made a bit, he made a little bit but for a year of hassle I doubt he came out ahead.

Find an amateur. They almost always loose on their first flip and will over bid.

[svauto-erotic855]

C'mon man. That's how the game is played. One day you're the douchebag, the next day you're the... the... well you know.

I don't blame them for trying to make a buck but I've had them try to buy stuff from me that's not for sale and then get butt hurt when I tell them my only price.

[krazy kris]

I sold my last house to an investor it wasn't on the market for 2 days before it sold. I bought it in 2012 for 120k and sold it in 2016 for 150k to an investor that never looked at the house. I was happy but kind of pissed I painted the entire freaking house inside and out, put new carpets in the bedrooms and the rest of the house was tile, new stainless dishwasher and stove. A few other little repairs. After closing they came and repainted, new appliances, new tile, I spent a month doing all that and could have saved a couple Grand. I did like not having to worry about any issues with funding at closing or anything like that with an individual buyer.

[kingjason]

Make sure they are legit. I have seen people lose all their equity over being in a hurry. Like 80k to a con man.

[KBScobravert]

I actually follow a few FB pages for Wholesale "we pay cash for house" folks. Do your homework on the comps, after repair value and how much improvements/repairs are going to cost. I've been trying to learn the game to figure out how to buy from them.

I'll tell you from what have seen, they are making a sizable chunk for each seller and buyer they bring to the table. Assignment fees is what theyh call it. They are like scabs but got the hustle to deal with 100s rejections for every deal they close.

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[MustangPoser]

I'll tell you from what have seen, they are making a sizable chunk for each seller and buyer they bring to the table. Assignment fees is what theyh call it. They are like scabs but got the hustle to deal with 100s rejections for every deal they close.

One of the companies I've worked with does this. The agents and the company make a TON of money. The agents get assigned a lead, they close the deal, and pass it over to an investor who pays a big chunk for the opportunity to buy the property.

Another hustle I see is where people search down land owners and low ball them on the property. They then have a 90 day/180 day option to purchase the land, so they line up a buyer and make the sale without having put anything down on the land they just flipped.

[svauto-erotic855]

One of the companies I've worked with does this. The agents and the company make a TON of money. The agents get assigned a lead, they close the deal, and pass it over to an investor who pays a big chunk for the opportunity to buy the property.

Another hustle I see is where people search down land owners and low ball them on the property. They then have a 90 day/180 day option to purchase the land, so they line up a buyer and make the sale without having put anything down on the land they just flipped.

This, these are the twat waffles that harass me constantly.

[KBScobravert]

And it's how Dave Ramsey got started. Flipping paper.

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[lincolnboy]

If it's a good location and decent house. I'd wait. Someone will buy it as is and fix it how they want to. Or another investor will come along

[the spindoctor]

Thanks for the replies. This is my first house, bought the place as a long term fixer upper back in 08 when I was young and single, never really thought I'd want to move anywhere else.

Just trying to weigh my options and trying to avoid financing issues with conventional buyers because the house needs repairs. Nice established older neighborhood in Garland.