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I am a real estate agent and just listed a home that hasn't been updated at all since it was built in the mid 70's. Owner is a hoarder and wants to have an estate sale before the home goes on the MLS.
The seller is fine with any investor coming through now, but just doesn't want an Open House or it to be on the market yet until he gets rid of a lot of stuff.
So, that's where I am at. Does anyone have any good ideas on how to find an investor?
I did search the MLS for past sales (over the last 600 days) to see what sold under price and I was able to find a few LLC and investment groups in the area that way. So, I am contacting them.
Any other ideas would greatly be appreciated. I was considering using the Zillow feature "Coming Soon," but I don't know if that is a good idea.
Hi! Home is in San Gabriel Valley, major fixer built in 1975. Probably not updated since then... asking price is $588,000 (with comps in the area with updated houses being $675,000 -700K)
It seems like every investor I called was a real estate agent. Got offers from two investors already, one at 460K and the other at 540K
If the seller is willing to take a low offer because the house is a dirty fixer, then you could drop a line on a couple of the real estate investment websites. Bigger Pockets, REI Club, and even on Mr Landlord. That's where your buyers are.
But they aren't going to buy unless they can fix it up and still make a decent profit.
Southern California is much to far away for me, but that area ought to be crawling with flippers and fixers, and even first time home buyers who are willing to do a lot of work in order to actually be able to buy a house.
What kind of stuff is he hoarding? Is it potentially damaging? The home I bought my sister was a hoarder home. We made it being clear of debris as part of the contract. They were pretty good, but left a lot of filth under the porch.
We discovered the drain had been broken for years and poured out onto the floor when the tub drained, but there was so much crap down there that there wasn't any water damage to the basement. She's also found 4 rings on the upside.
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