“We pay cash for houses” companies/websites are a topic that come up from time to time. I decided to do some research of my own to see how viable these companies are as a buyer. Naturally, we think these companies are cash investors. However, what I have found out is that is not always the cash, and in my sample, the was actually not often the case. Cash buyers/investors are the best kind of buyer since they don’t need funding and are obviously quite serious. These are the types of buyers would we love to have snatching up our deals. What I actually found from my sample is most of these companies aren’t cash buyers. They don’t tell you that, but when I looked into them I found the connections from their cash buyer website to their assignment wholesale offers. So what does this mean to you?
Don’t always assume you are dealing with a cash buyer when you option your assignments to these places. In some instances they are looking are not looking for any deal, they are looking for motivated sellers to come to them and get a great price locked up to assign it themselves. They likely have some connections to cash buyers, but these types of websites are not the ones with the cash. If these websites are marketing “cash for houses” to do assignments then it must be a strategy that works. Even if you don’t have the cash yourself, but have the ability to potentially line up a cash buyer for your deals it may be worth trying to approach to attract motivated sellers with equity. We buy houses Toledo
The best way you approach this is to make a list of the various parts of the home. Things like, Exterior Front, Exterior Back, Living Room, Kitchen, Bath #1, Bath #2, Dining Room, Master Bedroom, Bedroom 2, Bedroom 3, Garage, etc. For each of these areas you make a sub-list. Example: Kitchen (this is the most important selling room of the home), Lighting, counter-tops, upper cabinets, lower cabinets, drawers, sink, sink fixture, dishwasher, disposal, stove, etc. To each item you set a planned “installed” price range: (Example: Sink Fixture $85.00 to $250.00). You get this price range by going to Home Depot, Lowes, or wherever, price the range, then add the install cost based on time to install times hourly rate you plan to pay.