How We Buy So Many Homes That Need Major Repairs

This video is a little different from most walkthroughs.

The property in New Orleans East was purchased some time ago as an inherited home that needed major repairs. At the time, the heirs wanted a clean, as-is sale without dealing with renovations or listing the house. We were able to buy it directly and close quickly.

In this video, Steve explains what happens after a purchase like that, not to talk about investing, but to give sellers a behind-the-scenes look at how Home Buyer Louisiana is able to keep buying houses consistently.

By repairing and stabilizing properties we purchase, we are able to reuse our capital and keep helping more sellers across New Orleans and South Louisiana without relying on traditional listings or long approval processes.

If you are selling an inherited house, a property that needs work, or a home you simply want to move on from, this gives you a clearer picture of how our process works and why we can make strong, reliable cash offers.

You can watch the video to hear more, or read the transcript below.

Video Transcript

Hey, Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition in Louisiana. I’m here at a closing. It’s actually a refinance. I’m at Title Stream in Metairie. This is a property we bought a while ago in New Orleans East. We bought it from the heirs who inherited the property. It was in bad shape, so we had to fix it up.

It was a three-bedroom, one-bath house, and we were able to extend it and turn it into a four-bedroom, two-bath. We still own the property and turned it into a rental. I wanted to mention what I’m doing now because I’m completing a refinance, which happens after we stabilize a property. This is one of the key reasons we can buy a lot of properties. It’s one of the powerful strategies we use to be able to buy so many houses, so I wanted to explain it so you can understand how it works.

We bought the house in bad shape and purchased it at an as-is price that reflected the repairs needed. It was a simple, easy sale. We put money into fixing it up and reconfigured the layout, turning it from a three-bedroom, one-bath into a four-bedroom, two-bath. Once it was fixed, we didn’t sell it. A lot of people do that, and we do as well at times, where you buy a house, put money into it, and flip it to make a profit.

In this case, we didn’t flip it. We turned it into a rental. We fixed it up, put a tenant in place, and now they’re paying rent. It’s a nice family living there. The property is stabilized, but we still have our money in the property. Instead of selling it and making a profit, we do a refinance, specifically a cash-out refinance.

We put a 30-year loan on the property, and the lender will give us about 75 to 80 percent of the value as a cash-out refinance. Since we added value, instead of selling it and making a profit, we can usually get most of our money back, and sometimes all of it, out of the property through the refinance. We get the money back, keep some equity in the property, and now we have a tenant paying down the loan.

Now we have the money again, and in the next day or two we’ll be closing on another property using that same money to buy the next one. Then we do it again and again. That’s one of the tools we use to be able to buy a lot of properties. If you see us buying all these houses and wonder how we do it, this is one of the ways. There are other ways too. We have a network of buyers, and we do flips as well. This isn’t the only thing we do, but it’s one of the things that really enables us to buy a lot of properties.

If you have a property you want to sell, reach out to us at HomeBuyerLouisiana.com. We love buying properties, adding value, fixing neighborhoods, and giving sellers cash while creating good assets for us. Reach out to us at HomeBuyerLouisiana.com. Thank you.

What this means for Sellers in New Orleans

When homeowners ask how we’re able to buy so many houses — especially properties that need work — this video gives part of the answer.

Instead of flipping every home and moving on, we often repair and stabilize properties so we can reuse our capital and continue buying. That means:

• We can buy inherited and distressed homes as-is
• Sellers do not need to make repairs or clean out the property
• We are not dependent on listing timelines or buyer financing
• We can close quickly and reliably

For sellers, this simply means fewer hoops, less uncertainty, and a straightforward sale.

If you are dealing with an inherited property, major repairs, or a house you no longer want to manage in New Orleans East or surrounding areas, there are options beyond listing and we’re happy to walk you through them.

Selling a house in New Orleans East?

If you own a house in New Orleans East and it needs repairs, was inherited, or feels like more responsibility than you want, there are options that don’t involve fixing it up or listing it. We work with homeowners and heirs throughout New Orleans East, Gentilly, Lakeview, Mid-City, and across Orleans Parish to help make selling straightforward and stress-free.

We also buy houses across Greater New Orleans, Baton Rouge, Lafayette, the Northshore, the Mississippi Gulf Coast, and surrounding areas, helping sellers find simple solutions no matter their situation.