Cold Callers, All a Scam?

[Jon Bon]

So I get multiple cold calls/texts/mailers every week. I pretty much ignore them all because they guys are trying to buy my houses at about 75% of market value.

My neighbor just sold his house to one of them, then I see it listed for 60% more then they paid about 2 months later. That house is already in contract!

So my question is, has anyone had a decent experience with any of these guys? I did get a legitimate call from what seamed like a legitimate guy. We had a good conversation and he quoted a preliminary number that I would likely accept. Do any of these guys offer anything close to what is market price?

Let me know your experiences.

[YttriumNitrate]

So my question is, has anyone had a decent experience with any of these guys? I did get a legitimate call from what seamed like a legitimate guy. We had a good conversation and he quoted a preliminary number that I would likely accept. Do any of these guys offer anything close to what is market price?

You might be doing an apples to oranges comparison looking at market price vs. what these companies pay. First, you need to subtract out 5 or 6% for the real estate brokers commission you'll likely be paying if you go the traditional route. Next, you need to subtract out several thousand for the repairs a buyer would likely ask you to make.

[Jon Bon]

This is an investment property if I did not make it clear above.

My only experience with these guys has been basically they are preying on (old) people who don't know how much their property is worth. They offer insultingly low offers 1000 times a day and hit on <1% and it is a still good business.

The call I got seamed like a more legitimate guy, it was a realtor. I checked him out on the google machine. I was thinking he might just be looking to make a deal and bring a buyer. Because investment properties are always for sale, I guess he just wanted to see if I subscribed to that notion?

Wanted to see if other investors have had any similar experiences.

 

[Papa bear]

Most have been garbage calls, but I did get a few to have the actual buyer/realtor/investor call back. 

One time, they made an offer, way too low. The next, we had a good conversation and he congratulated me on how well my property was doing, and he didn’t want to buy it since he wanted something cheap. And once I had an offer come back at 20k more than I had bought the place the year before! Whoa! But I had already remodeled it and raised the value much more than that. 

So 1 decent offer on all of the calls. 


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