How To Know If A Real Estate Investor is Legitimate

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How To Know If A Real Estate Investor is Legitimate
Video Transcription

Bob Allwein: Hey guys, it’s Bob Allwein from Maryland Cash House Buyers. Just making a quick impromptu video because I was, whoops, thinking about something. Take two. We’re just going to let that roll. Okay. I was thinking about something and that is how do you know if the real estate investor is a true professional? You might have gotten a postcard in the mail. You might’ve gotten seven or eight postcards in the mail, and you just don’t know. Right? You’re wondering, “Is this a legitimate operation? How does this work? And are these people for real?”

So a couple of things came to mind when I was thinking about this, because people do call us, and we do have appointments with folks that are a little bit on the fence in the beginning, because they’re just not sure exactly how this works, or if this is a legitimate operation or offer to buy your house for cash. So, few things that you could do to check people out that you might be thinking about meeting with to sell your house. And there’s three ways, really. One, and these are easy ways that you could do in about five minutes or less, as long as you have a computer. One, you could go to their website and I’ll back up and say, if you got a letter or a postcard from somebody, and it’s just signed, we buy houses for cash. My name is Tom. Call Tom at this phone number. Well, it’s going to be kind of hard to check Tom out. Because he didn’t give you any information. He didn’t give you a website. He didn’t give you any references. He just sent you a plain old letter. Maybe it was yellow or something. And it said, “I’m Tom. And I want to buy your house. Call me.”

So, Tom might be legitimate, but it’s really difficult for you to figure out if he is or not. So three ways, one, you can look up the company’s website. So our company has our web address on all of our mail pieces and on any social media that we put out there. So you could look at somebody’s website and see if they have references or testimonials. If they do, there’s a pretty good chance that they’ve actually done business before, and they probably know what they’re doing.

The other thing you can do is you can go to anybody’s social media. So if Tom puts his last name on the card, you could look at Tom’s social media and scroll through and see if he has pictures of houses that he’s flipped, or if he’s involved in any actual, legitimate, real estate investing business. So you could look somebody up on social media. I mean, you can look up somebody’s company, most legitimate companies like ours, Maryland Cash House Buyers are all over the internet. We have Instagram and Facebook and I even have a personal Snapchat. So you can find me anywhere, and in about five minutes or less, you can figure out that, “Yeah, this guy probably flips a lot of houses and probably knows what he’s doing.” So that might help you out there. So social media, everybody has social media. You can find it in about five minutes.

And the last thing I would say is when you’re checking out a company and thinking about doing business with them, is are they involved in any professional trade organizations? For example, we also run a mastermind group, which is a local investor meetup, and we meet once a month during normal conditions. Right now we’re on pause because of COVID-19. But as soon as we have permission to meet with groups of 20 or more, we’ll be back in our downtown Frederick office, conducting our monthly meetings. And these are professional real estate meetings where other like-minded investors get together and talk about real estate investing transactions and how to go about performing those. So you could look and see if some of the companies that you’re considering are involved in any of those outside of just regular, every day activities on Facebook, if they’re involved in anything professional, any trade professions, such as national REIA, which is a group of investors that get together to educate themselves. And you might also look and see if, while you’re looking at their social media, if they’re involved in any other masterminds. So I belong to a mastermind group called Investor Fuel, and it’s made up of a couple of a hundred investors from around the country. And we get together quarterly to discuss the latest practices and techniques for renovating homes, et cetera.

So, just a thought, it might help you if you stumbled onto this video because you received one of our postcards and somebody else’s postcard at the same time, and you’re wondering, “Hey, are these guys legitimate? Is this a real operation?” You can do those three things, testimonials, social media, and are they involved in any professional trade organizations? Okay, I hope that helped everybody. Have a great day. If you need any help from us, feel free to fill out our quick response form on our webpage, www.mdcashhousebuyers.com. Thank you.

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