We buy a lot of houses with the tenants in them. We normally end up being good buyers for houses like this because its hard to sell a house with a tenant to a home owner, but to an investor like us that has a rental portfolio it makes sense. Since people with rentals are normally investors themselves we generally get along and understand each other. It makes the sales process really easy.
Since we buy houses in As Is Condition landlords usually love it as they often have some deferred maintenance and wear and tear from the tenants. We particularly like buying portfolios of rentals from landlords that are looking to get out of the business. Like the owners in this video who sold us their last 2 single family houses as they wanted to focus on multi-family. In the video you can hear our founder Steve Keighery talking about the situation and walking one of the houses.
Check out the video 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 house we purchased in Slidell in St Tammany Parish on the North Shore. So, we bought this one around six weeks ago, it was actually a package deal. We bought this and the one next door, and we did a video after we closed with my business partner, Courtney Fricke but since we bought the house with the tenant we only did the video from the outside.
We bought both these houses from investors and both houses had tenants in them. But, on this one, the tenant has just moved out, so we now have control of all the property again, and we’re fixing it up currently. We’re going to fix this one up a little bit and sell it. While for the one next door, we’re going to keep it long term.
It was actually our goal to take down both properties but only hold one long term. The sellers wanted to sell both, so it was done. They are investors, and they are sophisticated people, so they knew what they were doing. They just wanted to move on from these two.
This one isn’t as good as the one next door, so to help them out, they wanted to sell both, so we bought both. We have plans to exit on this one and hold the other one long term.
I’ll show you around the property. It’s a small little two-bedroom. It’s in a not too bad condition. You guys have probably seen my videos, I definitely buy properties a lot worse than this. Just that we don’t want to keep this, we really overpaid for it. This house was a less attractive one to the one next door. So, we bought it knowing we’re going to get rid of it. We intend to fix it up and sell it. To be honest, selling it isn’t going to make us a profit because we really overpaid for this one. But we really want to hold the one next door, so we’re happy just to break even on this property and then hold the one next door.
The seller got what they wanted. It was a really easy process and they were able to sell the house fast. We also got what we really wanted from the deal , which is the house next door for a long-term rental.
We love structuring deals like this. It’s a win-win scenario, and it works for both parties. So, if you have a house you are looking to sell or multiple houses like this, reach out to us. We would love to discuss what you’re after and see if we can structure a deal that works for you.
You can visit our website homebuyerlouisiana.com, you’ll find a lot of information there about different options to sell your property in Louisiana.
Thanks so much guys, have a good one.
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