Ever wondered about those “We Buy Houses Fast Cash” signs stapled to telephone poles? Well wonder no longer, this is what they are and why people post them - enjoy! Add me on Instagram / Snapchat: GPStephan
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The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
So lets start here: the purpose of these signs is to attract people who NEED to sell, and NEED to sell fast - often in less desirable, or up-and-coming areas, and often at a discount to market value. These signs are also called Bandit Signs. These areas are more likely to find distressed sellers who donʼt have the luxury of waiting around for an offer, canʼt come up with cash to perform any repairs, or might only be weeks away from losing the property to the bank - and they NEED to sell ASAP and take a loss from what they could otherwise get in any other scenario. The purpose of the signs is to attract sellers who are desperate to sell, and don’t mind taking a discount to sell quickly.
But whoʼs on the other side of the deal, whoʼs the one actually buying these properties? These are the three types of people:
First, the wholesaler. They will evaluate the property and negotiate a price to buy the home, usually with an assignment clause, allowing them to transfer the deal - and the price - to someone else, for a higher price than they’re in contract for. This gives them the OPTION to buy that home at the pre agreed upon price, and then they can ASSIGN that deal to someone else for a profit.
The second type of person buying these properties are simply individual investors. These are people, like me, whoʼd like to cut out the middle man and cut out the competition. They place these signs to buy properties directly from the home owner, saving them time, commission, and hassle of selling and listing the property. The homeowner will sell the property less because they have the convenience of not dealing with a formally-listed sale, they donʼt have to pay 5%-6% fees to a Realtor, and the investor can save on all of those costs by making the sale as timely and efficient as possible.
And the third type of person posting those “We buy houses” signs are larger companies who typically give a quick close, cash offer - these are the most efficient of the ads. They can typically give a hard offer within 24-48 hours and close within a week or two. In exchange for this, theyʼll typically want a discount of 10-40% from market price. Once they buy the property, theyʼll do a quick renovation and put it back on the market for a profit. Rinse and repeat. These companies are often well-oiled machines when it comes to finding properties and making offers, and their “WE BUY HOMES CASH” signs are a very high ROI investment to getting motivated seller leads.
And that is exactly why you see “WE BUY HOMES CASH” signs posted around neighborhoods.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
So lets start here: the purpose of these signs is to attract people who NEED to sell, and NEED to sell fast - often in less desirable, or up-and-coming areas, and often at a discount to market value. These signs are also called Bandit Signs. These areas are more likely to find distressed sellers who donʼt have the luxury of waiting around for an offer, canʼt come up with cash to perform any repairs, or might only be weeks away from losing the property to the bank - and they NEED to sell ASAP and take a loss from what they could otherwise get in any other scenario. The purpose of the signs is to attract sellers who are desperate to sell, and don’t mind taking a discount to sell quickly.
But whoʼs on the other side of the deal, whoʼs the one actually buying these properties? These are the three types of people:
First, the wholesaler. They will evaluate the property and negotiate a price to buy the home, usually with an assignment clause, allowing them to transfer the deal - and the price - to someone else, for a higher price than they’re in contract for. This gives them the OPTION to buy that home at the pre agreed upon price, and then they can ASSIGN that deal to someone else for a profit.
The second type of person buying these properties are simply individual investors. These are people, like me, whoʼd like to cut out the middle man and cut out the competition. They place these signs to buy properties directly from the home owner, saving them time, commission, and hassle of selling and listing the property. The homeowner will sell the property less because they have the convenience of not dealing with a formally-listed sale, they donʼt have to pay 5%-6% fees to a Realtor, and the investor can save on all of those costs by making the sale as timely and efficient as possible.
And the third type of person posting those “We buy houses” signs are larger companies who typically give a quick close, cash offer - these are the most efficient of the ads. They can typically give a hard offer within 24-48 hours and close within a week or two. In exchange for this, theyʼll typically want a discount of 10-40% from market price. Once they buy the property, theyʼll do a quick renovation and put it back on the market for a profit. Rinse and repeat. These companies are often well-oiled machines when it comes to finding properties and making offers, and their “WE BUY HOMES CASH” signs are a very high ROI investment to getting motivated seller leads.
And that is exactly why you see “WE BUY HOMES CASH” signs posted around neighborhoods.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
We buy houses while you have no where to live….
I'm looking to sell my condo in Chicago. It needs updating which I do not have the money to do. It is located in the Gold Coast area of the city so the location is very desirable. Is there a way to get a list of these companies that want to buy with cash or should I just do a google search? How do I know I am not going to get ripped off?
Majority of house flippers half a** repairs then gouge the price on houses not a fan of flippers. The new owners are stuck with a decorative Turd And usually see most of those houseventually falling apart and condemned Shortly after It's Sad
Wow. Great Southpark imitation!
Wait. I think the signs are being made by a middle man who gets paid by the Wholeseller/investor/Company. The middle man gets paid a commission. RIght?
Now these creeps send text messages – like multiple times a day from all different numbers. So aggravating. Block &delete convo and they just use a different number (same company) next week.
Grham doesn't understand wholesalers Unsubbed dislike
Believe me!! These signs work!!
Someone came through and put these signs up in my neighborhood today and I just cut them down. Theft of this magnitude is unacceptable and I'll be damned if some shady investment firm is going to exploit people like this. Thay can take this carrot and shove it up their asses.
Sounds like an up-and-coming business throughout the US. Not very usual in my country though.
O always wondered, im on a spree of watching videos on things we usually don't really care about
I'm not desperate to sell my house there's some low life in the area WHo keeps nagging me to sell the house for 300k less how can I report this
Yeah I get these in my city, when I first saw them I knew there was a catch or a scam
The lowest of the low end of this is if there is still an outstanding mortgage or reverse mortgage, the scammer sells the house to an unsuspecting naive party and takes the money and runs and the original owner and new "owner' are screwed.
they buy at or below tax value. then found a loop hole so as not to be busted for illegally brokering houses, sell it for retail, even if its a fixer upper. all buyers pay closing cost, never money out of pocket, that gets done at closing out of the house funds. its all a scam. dont fall for it, and take down every sign . i did. many mornings drinking coffee taking down all the signs in my town. i wish someone would go after the robo calls i get from them.
Well, my house isn't in the best shape, but at the same time there has been a developer going around buying up old homes, knocking them down and putting up two to three houses in it's place or even putting up townhomes and duplexes. So, is there a way I can maybe see if they are interested in my property? I want a good deal in the end, because if I don't get it, then I can just stay and maybe fix up the place myself and turn it into a rental.
I want to paid in cocainum.
I figured out a way to sell homes that I've never even seen. I watch "American Greed".
An this I what leads to the gentrification on lower income neighborhoods and the push out of the poor and/or people of color from that neighborhood.
So whats wrong with creating a win win situation for both parties??💁♂️
Im stuck in one of those that close monday help what do i do, I need a pro bono lawyer, Im a disabled veteran and i think they played my fears against me what do I do, do i breach contract and not sign escrows papers to continue or breach contract by not having the place clean and impossible solar panels to remove even though i told them i cant get them off or buy out of my contract.
They are all snake 🐍 oil 🛢 salesman. Fake phonies. They low ball you from the beginning and then during the title search with come up with a fake excuse that the agreed price has to be lowered. Also, they list your house as a third party for a mark up of 50k to 70k and they pocket that money while you get less than the property value. Read the contact if the down payment is $500 in escrow that means they don't have funding also if it's just a one or two page contact nonsense.
Good info!
It just a business. you have to learn. I buy beauty houses close to market value and still make money.
Thank you for the video, good information
They buy at 65% of market price.
Your voice really changed over the years my man
watching an old video of you, you sound funny.
I’m striving to be an ethical “wholesaler”. I understand very strongly why someone could use a quick cash offer. (There are sooo many reasons) stop marketing towards the property and market towards your “client”.. solve their problems and Have their best interest in mind you’ll become rich. Then starts the snowball.. It’s not an easy game and that’s why people are unethical in it because they get in it and all they want is money.. however, I lovvve Real Estate.. went for my agents course but it went to Humber while I was doing the local course and I only got the chance to attempt it once before the course was shut down and taken to actual schools.. (which makes sense). From Ontario, 🇨🇦
Anyone else think the audio quality of this channel is pretty bad for having 2 million subscribers?
Jokes on the dislikes because it still adds to you tubes engagement algorithm for more views.
What I don't understand is if the loan on the home is $100k, and the "fast cash" buyer gives 60%, the loan isn't cleared up, the title isn't clear – the originator won't release the house, will they?
I'd be the 4th guy. The one making signs for $10 a sign to sale to the wholesaler.
I use those signs to buy houses. Works for me. We buy distressed houses all the time. Also preforeclosures
On the lines of whole selling, even retailers buy their products from whole sellers, and then sell them to us for a higher price. We don’t complain about paying $20-$30 for a shirt or a pair of jeans. The retailer usually only pays 50% of that price.
I had an uneducated family member sell their house to one of those We Buy Houses now signs. He lost his shirt in the deal. He would not listen to me because he always feels like I'm telling him what to do and he's tired of me being right. So he acted like he knew what he was doing and I just said fine help yourself and walked away. I don't think he even got 50% of the value of the house. But honestly that's just fine with me because whatever money he got, he bought drugs with anyway so I think it was a good deal in the long run.