“We buy houses”

Why are these signs everywhere? How does their business actually work?

Attached: 307E8D47-A0DE-4107-8721-55BCB72A2708.png (700x532, 221.75K)

Wholesaling - and it is a lot more difficult than the internet gurus make it out to be.

Essentially - an individual will act as an intermediary, find a desperate seller that needs to sell for cash right now, offer a below-market rate, and assign that deal to an investor to flip the property - in most cases.

It is possible to make a lot in this line of work but it it attracts a lot of slimy salesman types.

these are old news. theyve been around forever. just people who pay you cash for your house if youre looking to default on a mortgage. or otherwise get rid of it. they dont give you anything close to market value.

>How does their business actually work?
With fast cash, they buy houses.

Buy house for cash at a discount to people who want to sell

How is that hard to understand?

this. kinda like that failed obama program, Cash for Clunkers. just slimy degenerate nigs looking to off load shitty houses and cars in ghetto neighborhoods

I thought it said horses. Was confused

One of these in the Vancouver area was discovered to be a money-laundering front awhile back.

Must be tough for them in this market. Seems like every house that goes on sale is overbid by 20% within a week. How do these people compete in this day and age?
My mother in law had to escalate from $500k to $650k just to get her house. Insane.

I've done quotes on fixing houses like these for investors. I give them a quote on how much to fix up the house, they deduct that from the appraisal, and deduct another 20% to cover them.
People that do this want to sell their fixer upper fast.

theyre like pawn shops. theyll buy anything, but below value for resale. its not worth it unless your property has like radioactive contamination and literally no one else will buy it

They’re everywhere in low-income places (nigbourhoods) for some reason.

You never see them anywhere else. I’m 100% convinced it’s just criminals

Gramama Jenkins got her mortgage in 2005 when a social worker told her about how the bank has to extend her a line of credit or 'they racist'.
So she got her little crackerbox hat Jontel, Diontre, and Marqueece live in, but now Gramama Jenkins need that money, so she call't that numba and they offerin' her $64k more than she owe on her mortgage.
After taxes, she'll have $38k left to cover Marquees's bail bond, and give $10k to the other two to 'get them a good start' before her social workers moves her to an elder care facility on government money.

This, usually some nigger tier mystery meat pajeet or paki from NY offering maybe a 1/4 of retail if you're lucky. These fucking bottom feeders love to waste everyone's time as much as possible and act like they're doing sellers a favor. Mostly they just take advantage of shitty realtors to get a look inside properties.

In wealthier neighbourhoods and for luxury homes, they typically opt to personally go around and make offers to people where they'll underbid but "you get all the money at the time of the deal in a mix of verifiable cash and money transfers from foreign banks".

The Ministry of Finance of BC wrote a report on this back in 2018. Some $6 billion dollars of dirty cash was pumped through the BC housing market. One Chinese man bought $32 million worth in luxury houses using a combination of criminally linked cash and foreign bank transfers.

Wealthy people might not fall for a vinyl sign, but they still fall for this scam in different ways.

>how do their businesses work
They offer you a below market value cash amount. Then they flip your home and make 30/40% off the deal in the span of a few weeks. It's a highly exploitative business preying on broke retards who can't pay their mortgage.

Attached: badatmath.jpg (1920x1080, 97.75K)

They buy it before it hits the market from naive poor people
They are scum

Wholesaling.

Or, they have a lot of cash available to invest. It's like 20% downpayment and the rest is a loan. They probably offer below market rate, and then fix it up and sell it. If they can't get any profit from it they don't buy it.

it's just blackrock
lol

what's it like knowing nobody gives a fuck about canada?

Basically pic related.

Attached: TtNU.jpg (607x688, 73.76K)

Attached: 4354353454354.jpg (2560x1440, 864.69K)