If you have ever driven around Syracuse area, I am sure that you have seen "We Buy Houses" signs either on telephone poles or lawns.
Your problem wondering, do people actually sell their homes to someone with a few words and number on a telephone pole?
Some of these signs seem to be professionally printed, while others are simply written with marker on poster board or a cardboard box.
These signs have really emerged in the past five to six years after the latest recession and its ensuing years. The reason for this is because people who are in search of making extra money or getting rich began turning to real estate. During this period of time, as real estate prices were in such a depressed state people felt like they could capitalize on this opportunity.
These people who are trying to get into real estate and begin investing were "sold" this "bandit sign" idea to try and draw potential distressed home buyers into their sales funnel. These "bandit signs" are a marketing technique that is preached by several real estate investing "gurus" who make money off of charging people/investors for their knowledge. They are selling the dream of long life security and wealth to people searching for an out in life.
With that being said, not all "We Buy Houses" signs in Syracuse NY leave homeowners with false hope. Some of the people behind these signs can truly deliver value and assist you with your housing solutions. Some of these signs will bring you to legit home solution businesses where they can assist you if you find yourself in a difficult situation with your property.
In our opinion, if you are in a situation where you need to sell and you are looking for a legitimate real estate solutions company who buys houses, all's you need to do is a quick google search for "we buy houses CITY" and you can do your own homework on who you would like to speak with.
So Who Will You Find Behind The "We Buy Houses" Signs
Depending on the sign that you contact will depend on who you will find and what their intentions are. This is the issue with calling these signs. You do not know who is truly behind them, if they can help you or even if they are a legit business.
Lets find out who is making them? Can these people really help you sell your house? And what situation you need to be in for these signs to benefit you.
1) Wholesalers - The only form of buying and selling real estate you may be aware of is through a brokerage or a real estate agent. An ever evolving and more prevalent concept being used today is called wholesaling. This strategy is usually used by real estate investors as another form of income in this industry.
Wholesaling is the concept of putting a property under contract and then assigning that contract to a cash buyer or investor for purchase.
So someone who is looking to use the strategy of wholesaling, will place these signs around town hoping for a distressed homeowner or somebody looking to sell their property at a a deep discount. You will contact them, they will up an appointment to come see your property. If the numbers work on their end and you are satisfied with the price, they will put your home under contract for that amount (throughout this whole process, they should make you aware of their intentions and explain to you how they will be going about this transaction). Once your home is under contract for a specific price, they will then "assign" this contract to another investor for a "fee".
Typically, wholesalers have created a large investor buyers list, where they will send your property information, photos, details and a video walk through to their buyers in order to find a "real" buyer for your property.
With all that being said, if you are in a difficult financial situation or are being forced to move or need to sell for numerous reasons, a real, legitimate wholesaler does have the ability to assist you and move your house quickly.
2) A Property Flipper - I am sure you have seen the house flipping shows on TV, where investors purchase homes at a discount, fix them up and resell them for a profit.
The same concept applies here and the first step for all of these investors is to find a deeply discounted property, where they can fix it up to neighborhood standards and resell for full market value. As you can imagine, this type of transaction requires the purchase of a deeply discounted property for it to work. Anywhere for 30% - 70% of the homes full market value (depending on the level of repairs needed).
If you are a homeowner, reaching out to property flippers will be a better option for you. The reason for this is because these folks are "real" buyers and have the funds to actually purchase your home.
A lot of these signs will advertise they will give you cash offers on your home but there are only so many "We Buy Houses" companies in Syracuse NY that can actually follow through with this statement.
Once again, if you find yourself in a situation where you need to sell your property fast - a property flipper will be able to help you if the transaction works for all parties involved. If they will be able to make a good profit and you are satisfied with the sales price, then it is very possible that you will be able to sell and close on your house within a month.
3) Landlords | Rental Property Investors - Another type of person or company that you will find behind the "we buy houses" signs in Syracuse NY are rental property investors or landlords.
The same concept applies for these folks as the other two strategies discussed earlier. They will be looking for discounted properties but may purchase your home for more money depending on if the numbers work or not. They will also be interested in purchasing properties that are in good condition that may be discounted 10 - 25% of the full market value.
These investors will want to know how much they will cash flow a month, how valuable the location is, what are the operating expenses on the property (utilities, taxes, insurance, etc.), what type of return they will get from the purchase.
We Buy Houses Signs in Syracuse NY
Getting started in real estate can take months or even years and can be very costly. Marketing for discounted properties can become very expensive. Putting up signs on telephone poles and in yards is inexpensive and has the possibility of getting investors phones ringing and bringing them in a deal.
This goes back to the seminars and guru's that we spoke of earlier. This is an approach that is taught in these classes and that is why you see so many of these signs hanging around town. With unlimited access to the internet these days, anybody can be a real estate professional or guru and you can also find this information on these folks blogs or websites.
So basically these we buy houses signs are used as a marketing tool for real estate investors to acquire properties at a discount.
If you do need to sell your house fast and are in a difficult situation, it is not going to hurt to contact these signs. See what they have to say, how long they have been doing this and if they are a legit business. As stated earlier, the best way to do this is to do a quick google search for "we buy houses CITY" or "sell my house fast CITY" and do some research on the companies that come up.
We are the #1 home buyers in Syracuse and surrounding areas, so if you do need some assistance on the sale of your property, contact us and we will walk through the process and let you know how and if we can help you.
HS Property Funds
Funds to Help, Problems to Solve
(315)516-8023
www.hspropertyfunds.com