Re: Buying houses from “The Desk” - Posted by Ben (OH)
Posted by Ben (OH) on February 15, 2001 at 04:23:43:
I have been full time in RE since May of last year. I discovered this method of buying houses “from the desk”, by accident.
I was so busy at one point last year that when my RE broker called me with a deal I told a few of my investor customers about it. They went and looked, made an offer. It went to closing, using the investors funds, I was paid on my assignment. Since then, I routinely will buy and sell this way. It makes perfect sense and MAXIMIZES your time. In fact, I’ve bought houses I’ve never seen, to investors whom I’ve never met, from Brokers whom I’ve never met (to this day).
The closing company comes to my office to sign the papers. A few days later I get a check.
I’m not sure why the other posters find an advantage, or whatever, in doing things the old-fashioned way. If the darn thing works, and it does, do more of it! What the heck is the big deal. My company, Freedom Home & Land in Ohio, is doing just that. We will buy and sell in cities 250 miles from my office in precisely this manner.
When you think about it isn’t this really what mortgage lending, or REO’s or foreclosures is all about? The appraiser sees it, the BPO person sees it, but the guy at the bank writing the check never leaves his desk! What’s the difference if we do it.
In addition, most of my flips bought in this manner are generally under $30K. Oftentimes, the houses are trashed, smell bad, missing furnaces, copper, the whole bit. My point–you’ve seen one you’ve seen them all. So what’s there to look at! SELL, SELL, SELL.
Old paradigms need to be broken. Break them and bring new ideas to the table. Good Luck.