Bob: Hey guys, it’s Bob, the Flipper coming to you from the truck today. Time for a little truck talk. Who do you know that has inherited a property, is a senior that wants to downsize and wants to sell their house or is a landlord and is ready to sell their house because their tenants moved out and maybe they left them a mess or maybe they have some deferred maintenance that needs to be taken care of? I’ll explain these scenarios a little bit.
We’re working with all of these scenarios right now. We currently have four projects in operations that were inherited properties. What that means is somebody, usually in their 40s or 50s, has inherited a property from a family member, and typically these houses need some work and the owner of the property doesn’t live there, but they’re responsible for taking care of the work in the property and they’re responsible… they might be the personal representative for the estate. That’s the legal definition of the person who’s responsible for a property that’s been inherited. And they might need some help.
Typically, with these houses, they might have some materials left behind, some personal belongings, some older furniture, and in some cases, or a lot of cases, deferred maintenance on the property. Some of these houses don’t have air conditioning, if you could believe it. They were built in the ’50s ’60s ’70s, and today’s buyers, air conditioning is a mandatory feature, if you will. So a lot of these properties really aren’t ready to be sold on the market with a real estate agent. And the heirs of these properties or the personal representatives need other options. In a lot of cases, we’ll help these folks by moving the left behind belongings that they just don’t want to deal with or they don’t want anymore.
Usually family members’ll come in and take the important things out, like pictures and documents and things that are important to the family. You could probably think of things that would be important to you that are in your house. But then sometimes there’s just stuff that’s left and nobody wants the stuff. So we’ll help with the stuff, we’ll donate it to Goodwill. We’ll clean the house out and we will renovate the house and sell it again. These folks are usually… they need some help and we’re there to help them with the stuff and we’re there to help them with other things such as the repairs on the property, and in return, we buy the property from them quickly in as is condition and it usually works out.
The other scenario that we’re dealing with right now is the landlord who has tenants who have moved out and the property needs some repairs. Usually there’s some deferred maintenance on the property. Things like they have an old oil burner and it’s just not up to date and that’s an $8,000 proposition to fix or to replace. There are old roofs or there are old windows and they just need some work and the landlords are at a point in their life where they just don’t want to deal with it any more and they’re ready to sell the property. We’re able to buy the property as is in that condition and offer them a fair market price based on the condition of the property at the time. And in those cases we do have some cleanup also. We’ll help landlords clean out messes that are left behind from tenants that they had stuff and they didn’t want to take it with them.
The other scenario is we have seniors that are downsizing and they will sometimes have a lot of stuff that we’ll help out with, too. And in many cases these folks still live in the house. The house is livable, but it has some deferred maintenance and we have to buy it in as is condition. That’s easy for us to do. We can buy the house and we can fix it up. But these folks that still live there sometimes have issues that involve things like, hey, they need to move before they can sell the house or they need to move after they sell the house and they need a little bit of money in order to be able to move. What we do in those cases is we’ll buy the house, and let’s say it’s two or three weeks from now, we’ll buy the house and give the current owner a free rent back for anywhere from two to four weeks depending on what they need to do to prepare themselves to move.
Just wanted to share some of those solutions that we offer with you guys and ask you who do you know or maybe there’s somebody in your family that has an inherited house, who has a rental property that they just don’t want to deal with anymore, the tenants just moved out and maybe they left them a mess and they need to sell it in as is condition or a senior that is downsizing and they need to sell their house in as is condition. Those are all very, very common scenarios that a lot of people have to work with and we deal with every single day, and we do our best to not just buy the house, but figure out what scenario the owner of the property or the personal representative of the property is dealing with and try to figure out a way to help them.
We’re doing this all over the state of Maryland. Right now, we have properties in Middletown and Frederick, in Mount Airy, in Marriottsville, in Westminster, and four out of those five properties were inherited. We’re meeting with folks all over the place, making offers in places like Middle River, Maryland, Thurmont, Maryland, Gaithersburg, Maryland, Germantown, Maryland, Laurel, Maryland. Who do you know that has a house in Burtonsville, Maryland and they want to sell it as is?
If you know somebody like that or if it’s you, please reach out to us. We’d love to come out and meet with you and talk with you and figure out a way to help you. You can do that by filling out the quick response form on our website. And we will have an appointment set up as soon as possible. All right. Take care everybody.