April 9, 2021

We bought this vacant house with a hole in the roof

We bought this vacant house in Gretna which was vacant and had a big hole in the roof. The owner had inherited the property and lived out of state and was getting lots of code violations. He reached out to us and we bought it for cash in As Is Condition. You can view the video to see the condition and refer to the video transcript below.

Hey guys, this is Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition in Louisiana. I’m here at this property we’re looking at on the west bank of Jefferson Parish. Gretna specifically.

So this property’s been vacant for quite a while. You can see it’s boarded up. We came inside to have a look. It’s been vacant for a long time and the owner actually now lives out of state.

The property’s been getting code violation and it’s becoming a burden for the property owner. Obviously he’s not making any money and it’s costing money in taxes and code violations. It’s also a bit of a liability problem because people come into this property and hurt themselves.

I’ll show you around. You already know we buy properties in As Is condition. You’ll see this house’s condition is pretty bad. But we do deal with these sorts of properties.

You’ll see the roof obviously has an issue. When it rains outside it also rains inside. As the rain comes down it causes a lot of problems. I’m not going to walk over here because the floor is a bit soft. I did walk across before but I won’t do it while holding a camera. As a result of all this water coming in you’ll find there’s mold in a bunch of places.

So look, this house obviously needs a lot of work. It’s very far from being ready for a homeowner. You see the bathroom’s gutted. Yeah this is definitely a big project. It’s obviously very far from being ready to list with a realtor or for any sort of homeowner to be able to move into.

The owner reached out to us because they know we’re a cash home buyer. Since we use our own money we don’t need bank inspections and finance approvals. There’s no way a bank would approve this house with you know holes in a roof and issue the foundation. The bank would never lend money on this property.

Because we pay cash we can buy this property and what we’re going to do is fix it up. We’ll change it out we’ll have to gut out a lot of the property, put a new roof on it. Do a whole bunch of work and at that point it is gonna be ready for a homeowner and a bank will lend money on it and we’re likely to list it and sell it to that new homeowner. We do also hold rentals but just based on what I’ve seen so far it’s probably more likely to be a flip on this one.

So look, we’re happy to buy these sort of properties. We’re happy to put in the time, effort, resources, money and work needed to turn the property around .So we’re going to get a project and we’re happy to help the owner of this property get rid of this problem house.

Properties are good assets and they’re meant to be helpful to you, but when they go wrong like this it’s actually not an asset it’s a liability. It’s a liability for insurance and it’s a liability in terms of it costing money and the city is fining them and harassing them. So you know when we get this deal done it’ll be a real win-win for everyone involved.

So if you have a property you are looking to sell, it can be as bad as this but doesn’t have to be. We do buy better properties as well. Obviously we’re not worried about buying a property like this and doing the work so reach out to us or you can go to our website homebuyerlouisiana.com. We have lots of information there and frequently asked questions.

Thanks so much guys have a good one.

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