WE BUY HOUSES "CASH"

[happyardy 0]

Guys,

When we put up signs like WE BUY HOUSES CASH, how does it work?

Does anyone have an experience where a homeowner called reading the sign only to find out that we are interested in LPing the property and he is not getting any cash upfront. Do they get irritated and say "Your sign said that you buy houses by Cash !!"

 

I am thinking of ordering some signs. Should I just stick to "WE BUY HOUSES" ?

 

- Ardy

[Doug Pretorius (ON) 9]

YES, all the time. Sellers would say: "You mean you're not going to buy it?" But the "cash" part isn't the problem, plain old "we buy houses" will get the same response, that's because it has nothing to do with the message and everything to do with the selling public not wanting to be involved with their property after they "sell" it or not being willing to wait for their money.

[Craig 0]

Guys,

When we put up signs like WE BUY HOUSES CASH, how does it work?

Does anyone have an experience where a homeowner called reading the sign only to find out that we are interested in LPing the property and he is not getting any cash upfront. Do they get irritated and say "Your sign said that you buy houses by Cash !!"

 

I am thinking of ordering some signs. Should I just stick to "WE BUY HOUSES" ?

 

- Ardy

 

Every transaction is cash at some point. If they are truly in need of cash, sign the contract at 65% of APR -minus all repairs with a note sub 2 inspection and wholesale the property as a assignment of contract.

At that price I am sure you can find a contractor to pay cash at that price and still pocket at least $5,000 to $10,000.

[Jonathan RexfordFL 8]

Here is my take. Be true with your advertising. Even though you may not be in the living room you still need to be up front. If you have the belief that you can buy all houses CASH then do so. Just as craig stated. CASH means my price. Its either Price or Terms.

[steve55121 0]

You can buy anything with all cash. This does not mean you have to use your cash. Basically it just means the seller is going to receive payment without having to carry back a second mortgage, If you pick these up at a big enough discount you can assign your contract to make some immediate profit.

 

 

-Steve

[West Coast Girl 1]

Here is my take. Be true with your advertising. Even though you may not be in the living room you still need to be up front. If you have the belief that you can buy all houses CASH then do so. Just as craig stated. CASH means my price. Its either Price or Terms.

 

Well, I thought that I would chime in here and try to shed some light on what it really means. What I'm posting was written by the One and Only Michael's friend Charles Parrish who explains it quite well.

 

 

"I had always heard or seen the phrase that says 'we pay all cash'. What does this really mean? Does this mean paying off with solid cash?($100 bills!) or paying with a certified check or cashier's check?

Will telling sellers this term convey a clear message to them that they expect to be paid 'cash' or will they conceive it as being paid

by means of a check from the buyer's (investor's)lender.

Also when someone says they will close quickly, what time frame are we really talking about - 2 weeks, a month or what?

Thanks for shedding some light on this topic."

 

Allen T NYC

 

 

 

Darn good question Allen....

 

You will find that most title companies have a problem with CASH! If you purchased a property for a $100,000, can you see yourself bring that much cash to settlement? Not likely, and the risk would be very serious.

 

I think it is silly to run an ad that says you pay all cash. It is just not true.

 

You can run an ad that says; "We pay all cash (certifed funds at settlement)" A reader would be more likely to take you ad message serious.

 

"...Fast settlement" Not really true, if you are an investor, you need a lien and title report before you go to settlement! You are not going to settlement without the lien and title. Only a fool would do that.

 

Too many investors are buying into the real estate peddlers selling books and tapes. It sounds good, but does not work!

 

I want time to settle, in fact, I use "bank days" I want an extension, my deposit check is NOT CASHED until I am assured that the lien and title report is good and that the seller is the OWNER, not some relative trying to grab my deposit.

 

I hope the light has been shed for you.....I do transactions daily, and this is what I do; I want time, I want proof of ownership, I want equity potential and I want a trouble free settlement on my terms.....

 

Good luck,

CharlesParrish.com

[Jonathan RexfordFL 8]

Well knowing who Charles is I do concur with his impression on some occasion. That is the way he does business. I also know he has an opinion. Control and Roll is a favorite expression.

 

We can play on words if you want to but if you do he bait and switch then your REI biz will be SHORT.

[West Coast Girl 1]

We can play on words if you want to but if you do the bait and switch then your REI biz will be SHORT.

 

Yes, Rexford, that was EXACTLY the point I was trying to make. You NEVER want to do a bait and switch.

That's why I've changed my marketing to reflect closer to what I'm trying to accomplish.

 

Cheers,

 

WCG

[813equities 0]

 

We can play on words if you want to but if you do the bait and switch then your REI biz will be SHORT.

 

Yes, Rexford, that was EXACTLY the point I was trying to make. You NEVER want to do a bait and switch.

That's why I've changed my marketing to reflect closer to what I'm trying to accomplish.

 

Cheers,

 

WCG

 

I know I'm jumping into this thread a little late, but...

 

West Coast Girl, I actually had the same feelings towards most marketing as you just stated. I think it makes it a lot harder talking to people that call on your signs when you start describing something that sounds different than what they read, so I'm curious.

 

You said you changed your marketing to reflect what you're trying to do...I was wondering how exactly. Could you give a real example, and expand on the response as apposed to your old materials?

 

Thanks...