Our Rehab Solution vs Wholesale or Cash Offer
How does it work?
We work with sellers just like you on minor rehab projects to maximize your profit when the house sells. We provide all the manpower and funding to sale the property within 30-90 days depending upon the project. The seller benefits tremendously because there is ZERO out of pocket expenses. Our sellers receive tens of thousands more directly into their pocket.
Who can qualify?
- Any seller who has some equity in their house.
- Any house that needs a minor rehab to sell quickly.
Does the seller have to have good credit to qualify?
That’s the great news! No credit, large bank accounts or personal guarantees are required.
Who would be the average seller that could utilize this solution?
- Relocating Seller whose financial resources are limited.
- The Greatest Generation or Baby Boomers who need to maximize their return but do not want to access their cash reserves.
- Any Seller that needs to have rehab work that does not have the time or resources to fund such a project and needs to sell their property right away.
- Any Seller who is looking to maximize the profit on their property.
What is the type of home that would benefit from this solution?
We call it the “Tired Home”. Usually 15-60 years old. The home needs to be updated and usually has quite a bit of deferred maintenance.
What is considered a minor rehab?
A minor update would be:
- New flooring (carpet, laminate, tile, etc.)
- New paint interior or exterior or both
- New appliances
- New countertops in kitchen and bathroom
- New fixtures (lights, faucets, knobs, etc.)
- Possible new cabinets in kitchen and bathrooms (depends upon area)
- New flooring in bathrooms.
- Landscape cleanup and adding curb appeal.
- New furnace and/or water heater
What are we not looking for?
- Major rehab work
- Replacing roof (May consider on a case by case base)
- Termite repair
- Moving walls
- Foundation work
(Depending upon the project, we may consider funding one or all of the above mentioned)
What is the average cost of the project that you are funding?
$25K-$150K (depending upon the property and situation we may even consider funding and rehabbing more)
Tell me about the process?
- The property is professionally inspected to establish the amount of work that will be required and to establish the value of the house.
- Everyone meets to discuss the scope of work, estimates, value and timeline.
- Agreements signed.
- Rehab begins: we provide all the financing, project management, permits, materials, licensed contractors and complete the project within 90 days +/- depending upon scope of project.
- House is sold and all parties receive their funds.
Do you have to go on title in order for this to transpire?
Yes. We will need to be placed on title to insure our interest is protected and allow us to make the necessary repairs to the house. The same as a bank would require in order to insure that their investment is secure.
What criteria will the house seller need to fulfill?
The house seller will need to move out of the home before we can start the rehab process. Why? Due to the scope of work and the limited time frame to complete the project; the house will be uninhabitable and not a safe environment to live in.
What if we do not have the money to relocate while the project is being completed and the house is sold?
Please call us to discuss your specific situation. We are happy to work with you to determine a safe and viable solution that can work for everyone.
How much does the homeowner have to pay for this solution?
Absolutely Nothing! We provide all the funding, labor, materials and management necessary for the project. We only get paid when the house sells.
Why would the homeowner NOT want to do the rehab themselves?
TIME, MONEY and VALUE
Many sellers do not have the financial resources or knowledge to pay for a renovation project. Sadly, they end up selling their house “AS IS” and lose thousands of dollars simply because they did not have the resources available to them. Until now!
Moving is stressful enough. We eliminate stress for the homeowner by doing all the things they do not want to do or may not be qualified to do. Think about all the hassle and stress of trying to find a new place to live, possibly a new job, and new schools for the kids, family stress and then add in a rehab project on top of it all. This can be extremely stressful having to possibly do the work themselves or try to manage the project, hire or potentially fire contractors, pick out materials that a future buyer may or may not want, pick colors, stage the home and the list goes on and on. We have streamlined the process for our house sellers to insure they receive more money in their pockets without all the hassle and stress.
Why not just call the Wholesale or Cash Buyer Community?
Those are two options and we can offer the same deal if you wish. However with a little bit of patience; our sellers receive tens of thousands more through this process than going with a wholesaler or cash buyer!
How is this solution a 3x win for everyone?
Here are a just few examples:
- NO MONEY out of Sellers pocket.
- MORE MONEY into Sellers pocket; usually $35K-$100K+
- NO STRESS having to worry if the right colors and combinations to insure a quick sale.
- NO HASSLE of hiring licensed qualified contractors, being a project manager, moving, selling and buying or renting a new place all at the same time.
- The NEW buyer of the home receives a home that is fresh and move in ready with no rehab required that is to their liking when it comes to colors, carpet, etc. Many misinformed Sellers think they will just “discount” the property slightly to take care of the extra expense of a rehab project. Unfortunately, the issue is that the new buyer will have to go through all the headaches the seller didn’t want to go through; add in possibly not being able to live in the house while it is being rehabbed. Plus the new owner will have to pay cash out of their pocket or get a new line of credit to fund the rehab. We like to place ourselves in the new Buyers shoes and ask the question: If we were in there position would we rather pay a little more per month for a “move in ready house” vs having to pay an additional $35K-$150K for a rehab above and beyond what we have already put down as a down payment? This is not taking into consideration the time vs value proposition. This is how the new House Buyers are thinking with all the choices available to them. Would they rather move in and start living their new life or go through a rehab project? If the Buyer has to go through a rehab they will want a serious discount to compensate for the hassle, stress and frustration they will have to go through.
- The neighborhood value has been raised by the new sale which can lead to referrals and future sales.
- The community and neighborhood are brought to a new level as a result of the rehab.
- Helps keep the local economy growing.
- Licensed and insured vendors are hired
- After each property is renovated and sold we will donate a minimum of 1000 packed meals to the local food bank in the Sellers honor!
Ok, this sounds too good to be true…what is the catch?
There is no catch. The agreement that we enter into allows us to legally conduct the rehab and fund the project. If you are unsure in anyway, we encourage you schedule a no obligation meeting with us first, then to seek counsel to put any questions you may have to rest. We work with many individuals, real estate agents and companies throughout this process and they are very comfortable with this type of transaction.
How much do we make on the sale?
The amount varies depending upon the project. We receive a reasonable fee for providing all the services and financing to rehab the house. The MAJOR win is that the Seller will see a greater amount in their pocket, eliminating stress, cost and time than if the house was sold “AS IS”.
How quickly can a decision be made to do or not do a project?
Provided we have all the required information and have inspected the property; usually within 48-72 hours.
We are ready to sign and move forward; how quickly can we get started?
As soon as we know the date the Seller will be moving out we can set up the project timeline.
How long will the typical rehab take?
Our time frame for the minor rehab is usually 60-90 days. We like to see that a home is ready and sold within 90-120 days from start to finish. This is provided that there are no additional time delays that are outside of our control (permits, inspections, material order delays, etc.)
How can we submit information about our house?
You can submit them online through our website.
Are licensed agents and contractors used for this process?
Yes. There are members on our team who are licensed agents as well as licensed contractors. You can rest easy knowing that our team of experts operate at a high standard of excellence.
Can I use my own Real Estate Agent?
Yes. Please just let us know so we can arrange the necessary proper paperwork in advance.
What if I do not have a Real Estate Agent?
We have licensed Agents who can sell the house once the rehab is completed.
What if I have worked with a Real Estate Agent in the past; am I still obligated to use them?
The answer will vary depending upon each situation due to the legal obligations that may exist.
Many Sellers are understandably unaware of what specifically new home buyers are looking for. They are not in the house selling business. Many times the Seller tries to guess and sadly presumes what the market is looking for. Unfortunately, by the time a Real Estate Agent arrives to sell the house the Seller has tried to do the work themselves. They have placed what they would personally like and want in their own home; not necessarily what the “new Buyer likes”. Now the poor Real Estate Agent is stuck trying to sell a property that may only appeal to a select buyer or even worse- no buyer at all. This will be a great source of frustration for the Seller, Buyer and the Agent(s). With a little bit of forethought, this scenario can be completely eliminated and the whole process less stressful. With our team of experts we provide tremendous solutions for the Seller, the new Buyer as well as the Real Estate Agent(s). Win-Win-Win!
NO Equity or Short Sale Solution
What can you help us with?
- 105% or less equity
- Current on payments
How is the “Little or No Equity” solution a benefit to us the Seller?
This is a great alternative verses a short sale and having to ruin your credit. Sadly, many real estate agents are not offering any other alternatives to their clients. This is a great way to help save the hassle and embarrassment of having your credit damaged.
What type of Seller(s) would benefit from this solution?
- Loss of job
- Death in the household
- Unable to pay the difference on what is upside down on the property in Agent fees, closing costs, taxes, transfer fees, etc.
How does it work?
We set up a phone interview and collect some information to determine if we can provide you with a solution. Once we are able to understand the house situation, we can then precede to the next step which is inspecting the property, determining the value, signing an agreement and placing a new Buyer in your home.
How long does it take?
Usually we can provide the Seller relief within 30-90 days.
Is this legal?
Absolutely! Since we have licensed agents affiliated with our organization that can assist in these types of situations and transactions.