Who are the ones that advetise torn down houses without fixing basic stuff

Question

Im located in Phx,Az, currently looking at single family homes in the $250k range, at this price point im not expecting the homes to be move in ready but recently saw in zillow or redfin houses advertised for sale where they are literally a mess , owner/investor didnt fix a thing on the house, who does this, whole salers, are they expecting to make a quick flip as is with no fixing up at all of the house, im in the car business and that is a big risk.

Chris Seveney · Answer

In many instances, it was a lender. Most lenders are just that, a lender, and want the asset off their books as fast as possible, so they will sell it as is.

Bill B. · Answer

Most wholesalers don’t have that kind of money.  Especially if they’re not in the same state as the property.  They’re leaving you the chance to fix it up and flip it and then buy another from them.

They can wholesale while having and risking zero or almost zero dollars. As soon as they take title, pay closing costs, interest starts, they pay utilities, taxes, insurance, and then start paying for the fix up.  They’ll have at least 20x more money at risk, maybe 100x. Better for them to just do more flips. That’s your opportunity to take those risks and try to make that money.

Jimmy Rojas · Answer

If they buy at a good margin space, couldnt they make improvements on the house and sell for more, making a bigger profit, thats the mind set in vehicles.

Who are the ones that advetise torn down houses without fixing basic stuff

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