We buy houses in ANY condition in Louisiana and really like the West Bank of New Orleans. Like this gutted house in Algiers. It had been vacant for a long time and was in very bad condition. The termites had moved in a long time ago but never paid any rent. The roof was damaged and water was getting inside. This house needed pretty much anything but that didn’t bother us because we buy houses like this all the time.
Check out the video to hear from our Founder Steve Keighery talk about this property and how we buy houses like this. You can also read the transcript of the video below.
Hey guys, Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition in Louisiana. I’m here at a house we’re looking to purchase. We’re on the West Bank of Orleans Parish. The house, as you can probably already see, is not in great condition. It’s been sitting vacant for quite a while and vacant properties just really start to deteriorate. Termites and things tend to move in. The weather affects it, and people can break into the properties and a million other things can happen.
We buy a lot of property and hold a lot of rentals. We strongly believe property is a really good asset, but a vacant property isn’t. It starts to deteriorate, and it actually often goes down in value. So, if you can hold on to your properties and rent them out and make them income producing, you should hold on to them. But sitting on a vacant property like this, if you’re not doing anything with it, that’s generally not a great idea.
So, the sellers had reached out to us, and they wanted to sell it. They needed to sell the house for cash in as is condition, so that’s what we’re doing. Obviously, you’re not going to get a homeowner who would get a bank loan on this.
I’ll show you around a little bit. You can tell it’s very far from ready. We’ve got a hole in the side of the wall here. It’s missing a lot of framing. When it’s raining outside, it also rains inside. So, we’ve got some leaks coming in here. Obviously, this is going to be a significant rehab. You’ll see it looks like some termites have been under there. It’s definitely one of those sell as is properties, and that’s fine because we buy properties as is. That’s what we do.
We like to add value. So, these sorts of properties are great for us. If your house is beautiful and perfect, there’s not much value we can add to it, and your best option is to use a realtor and sell it to a homeowner. But properties like this, they need value added, and that’s what we do. We have a strong network of contractors and property people in Louisiana. We understand permitting, this is what we do. So, for us, it’s cheaper for us to do it than for most people who aren’t in the industry. So, we’re still able to pay you a fair price. At as is price, we’re obviously paying you based on the repair that’s needed not as if it’s been repaired. But for us, since we are efficient and can do it well, it often makes sense. But for someone who doesn’t do this for a living, such a person is going to spend way more than us. A lot more. Also, it’s going to take them longer. They’re going to have headaches; they’re probably going to get drained because it’s hard work. But we do this for a living. We have processes, so for us, we can do it cheaper, faster, and it’s not really a big stress.
We’ll pay a nice fair cash offer, you get paid, leave the property as is and then move on to the next thing and we’ll move in, fix it and we might flip it. We might put a tenant in place and keep it as a rental. Lots of different things we’ll do. And we have a big network of property, people in the market, so we can pretty much always figure out a strategy that’s perfect for the house.
So, if you’re looking to sell a house like this, it doesn’t need to be this bad. But if it needs a little bit of work, has some issue where we can add value, then reach out to us. Visit our website HomeBuyerLouisiana.com, you see a lot of information about selling your house in Louisiana. Thanks so much, guys. Have a good one. Bye!
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