April 2, 2021

We just bought this New Orleans East property

We just bought this house in New Orleans East. The seller was looking to sell the house fast without having to make repairs or clean up. We were able to come to terms and make a deal happen. Watch the video to hear our founder Aussie Steve talk about the house, the sellers situation and we are going to do with the property. You can also read the video transcript below.

I’m here on a property we closed on Friday. It’s the weekend now, but we closed this on Friday. The house is in New Orleans East, and it had been in the family for 28 years. They lived here most of their life and had it rented out to their daughter for the last two years. It was time to move on for them, so they reached out to us. They wanted to sell it easily and fast for cash in As Is condition.

The house isn’t in too bad condition, but it’s definitely dated. It needs to be painted, there are a few holes, marks, some of the doors are falling off the cupboard, lights aren’t working.

As you can see, they left their bed behind, and that’s the thing about selling to us. We do buy in As is condition. So, you are welcome to leave things behind, and we will deal with them.

The carpets are pretty dated and old, the cupboards broken. Again, it’s not too bad a house. You’ve probably seen some of our videos, and we definitely buy houses a lot worse than this. Nonetheless, this isn’t quite ready to be listed for a homeowner. Homeowners are going to want to see it painted, cleaned out, and all that sort of stuff.

We moved really fast on this; we closed the property within two weeks as they just wanted to move on. They didn’t want the hassle of cleaning it up to make it presentable, listing it with a realtor, accepting an offer, then having to wait for finance and inspections to clear.

I need to mention that the roof is done, so there needs for a new roof. It’s passed its used by date, so any inspection would pull that up. But we’re happy to buy like that because we’ll replace the roof, make a few changes, paint the place, get rid of the carpet, add some luxury vinyl tile, and do some other stuff just to get it ready.

We already have our strategy for this. We’re not going flip it, we will keep it. With houses like this, we generally buy them in As is condition, get in, fix them up, clean them, get a tenant in place, rent it out to the tenant. Basically, we just turn it into a rental property.

New Orleans east is a pretty good rental market. There are lot of homeowners here. We could have flipped it. That would have been a viable strategy, but in this case, we decided not to.

It worked out well for the homeowners as it was a really easy transaction. They were able to move on without much fuss. The payment was fast, and they were happy with what they were paid. At the end, everyone was smiling at the closing table. For us, this is a good little property we’re going to turn into a nice rental. We’ll hold this for a long time so we’re really happy with the property that we got as well.

If you have a property that you’re looking to sell, and you don’t want to do the work to fix it up. You just want a quick, fast, easy cash offer on your house, then reach out to us at Home Buyer Louisiana.

You can check out our website homebuyerlouisiana.com, we have a lot of information there, we also provided answers to some frequently asked questions. So please check it out.

Thanks guys.

Project Update – We are mid rehab on this New Orleans East Flip
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