December 21, 2022
Using our network to close complicated deals
There is a unique story behind every house we buy. Some of the situations are complicated and require creative solutions. We have a large network of investors, title companies, property managers and attorneys that we draw on to solve these solutions. One of those people in our Network is Courtney Fricke who is President of the North Shore Real Estate Investors Association and a host of WWL radios Home Improvement radio show. We often partner with her when the situation is complicated because she has the knowledge to solve these issues.
This was one of those situations where we brought Courtney in. You can see the video she shot with our Founder Steve Keighery or read the transcript below.
Hey guys, Aussie Steve here from Home Buyer Louisiana. We buy houses in any condition in Louisiana. I’m here at a property we’re looking to purchase where we’re doing an inspection now and analyzing it. It’s in Orleans Parish, specifically in Venetian Isle.
The seller had reached out to us because they were looking to sell. They wanted to get out of the city, but the problem was they were halfway through a renovation. They had some damage from Ida, so it wasn’t really complete.
They owed a fair amount on their mortgage, and unfortunately, what they owed was really worth more than it could sell in its current condition. So, we couldn’t make the cash offer work. I mean, we’re cash investors. We buy houses for cash, and we just couldn’t make the number work. But we do know people. We have a really big network of people we work with, your title attorneys, other investors, etc. So, we knew that a creative real estate investor could probably be able to help them. That’s why we referred it to one of our partners and someone we worked with, Courtney Fricke, who’s actually holding the camera. So, I might turn around on her and get her to talk about it.
“Hey, you guys. Yeah, this one was unique. The owner wanted to get out of the city, specifically, they wanted to get out. They were afraid of the crime, and so they were thinking, okay, you know, they got hit pretty hard with Ida. They went through the insurance claims, and even then, it still wasn’t enough. They still had to put some of their own money, and it was just really hard for them to sink their good, hard-earned money into the house they didn’t want. But then when they looked at trying to sell it, they were going to have to come out of pocket even more. And so, a lot of times when people get to that position, they are like, ‘Hey, do I just give it back to the bank, do bankruptcy?’ And I’ve worked with a ton of families in that similar position. And actually, this was a unique situation where if the seller would go into bankruptcy or foreclosure, it would also put their job in jeopardy.
It’s not everyone, but there are a few jobs in the industry and in various sectors that if you go through bankruptcy or foreclosure, your job can be in jeopardy too. So, obviously, they’re saying, ‘Hey, we need to find a solution here.’ And that’s what we’re known for. We’re known for providing solutions. And so, we’re able to work with the mortgage that they still have in place and be able to do some creative options to get them a solution. We are reputable house buyers who can bring solutions that can help people to find a win-win solution so they can move forward and get out from what they want to get out from underneath.”
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