Starting a new business is hard. It takes time to get the word out what you do to the point where folks call you when they have a need that matches your products or services. And, there’s no way we want to spend the big bucks required to advertise on radio, television or billboards. Those may be great ways to brand a business, it doesn’t make the phone ring right away. This blog is free, but it’s reach isn’t far unless my friends share it and leave comments, so please do so. Help a gal out!
Need to Sell House Fast
This is nothing to be ashamed of. There are so many reasons this happens, and they aren’t all horrible situations. For example, sometimes a job
relocation or promotion requires a fast move. Lots of folks don’t want to pay for housing in their new city, plus pay on their mortgage while the house they just left is listed for sale. Same thing can happen with a marriage. Both people have homes they own, so they consolidate households into one home, and the other home needs to be sold right away.
Some reasons are tougher. Our parents and grandparents lived in the same homes forever, making lots of memories but very few updates. When they’re ready or have to downsize, the homes just aren’t in a condition to sell at a good price. These homes sit on the market for a long time waiting for a buyer who need that price or who is willing to do the updates for a lower price. Divorces, deaths, illnesses are all hard reasons folks need to sell fast. Sometimes in this tough economy, it’s easy to get behind on your mortgage payments, so selling fast is the only way to avoid foreclosure.
Myth: Investors Only Make Low Offers
One of the things we’re most proud of in this business is that we get to help people solve their problems. We always say, it’s not a win, unless it’s a win for both of us. I know a lot of investors only make super low offers, but that’s not true about the team at Best REI. We try to give every seller a choice of offers, so they can choose the one that works best for their situation. Those offers depend a lot on the condition of the property. If it’s in great shape, we can make a full price offer. Homes that need repairs or updates have a price that reflects to time and money we’ll need to invest before we can rent or sell it. It never hurts to ask us to make an offer. We’ll do our best to give you an offer you can accept, and we can explain why those offers work for us. We want a win-win solution with you.
What If My Credit Needs Help?
Almost everyone has struggled with no or low credit scores at sometime. This is another area where we’re proud to help those who can’t get a
mortgage due to their credit score or lack of a down payment. We offer homes lease with an option to purchase. Here’s how this works. We offer the house for lease for one year, with a renewal for one year. The renter signs two documents, a lease and a purchase option. The purchase price is set in the purchase option contract, and the renter has the option to exercise their right to purchase the contract any time in those two years. If they choose not to purchase it, they must vacate the property at the end of the second lease.
Here’s how this helps the renter to their path of home ownership. We connect the renter with a mortgage lender during the application process, and the mortgage lender advises the steps they need to improve their credit score over the next 12 to 24 months. If the renter follows their advice, their credit scores increase to where they can buy the house. And, we do not collect a deposit on the lease agreement. We collect a deposit on the option to purchase contract. This solves the down payment problem. All the deposits paid on the option to purchase contract become their down payment to purchase the house. We know these steps will help those who don’t see any other path to home ownership. See, you really can own a home, despite low credit scores and no down payments.
Raising Home Values in Neighborhoods
We frequently buy homes that are vacant and need lots of work on them. As soon as our contractors start work on these homes, neighbors drop by to find out what we’re doing, and they’re so happy to know we’re updating the home. Distressed homes lower the home values of neighborhoods, but our updated homes sell for the top prices in the neighborhood. Our home prices become a comparable for the neighborhood, raising the value of all the homes. We love impacting entire neighborhoods as we renovate one home in that neighborhood. It’s the ripple effect!
Offering Employment & Business Opportunities in Real Estate
We don’t work on our investments homes ourselves. Sometimes we sweep a floor, clean a window, mow a lawn, but that’s the limit to the work we do on a property. So, lots of contractors work on our properties. Our general contractors are fabulous, and they hire painters, tile people, floor people, window and glass people, landscapers, fencers, framers, haulers and more. As we buy more and more properties to renovate, more people are paid to work on our projects. After the work is complete, we pay an interior decorator to stage the home beautifully, and videographers and photographers to create images for our marketing. We’ve added folks to our acquisition team to help us find properties to rehab, as well as realtors to our team to help us sell our properties. Our business offers employment or payments to their businesses to others. That makes us smile!
We Offer Hope
I say this all the time. When someone can’t sell their home, they feel hopeless. We want to offer them a solution. The news tells us that more folks feel like home ownership is not available to them. We love saying, that’s fake news, we can help you get there. And, it’s fun to hire contractors to work on our property, and keep them busy all year long where they have to hire more workers, too. It’s fun being a stimulus to our economy just offering hope to person after person in the course of our business day.
We hope you’ll share the news that Best REI are spreading hope in Central Arkansas. Then you can be part of the miracle of offering hope, too!