"We Buy Homes"

[HBU]

Driving around Sydney I often see small signs nailed to electrical posts read "We buy homes Ph: [...]". I suspect it's some sort of scam looking to fleece people out of their home for below market value.

I'm wondering if anyone knows what this is about?

 

[skater]

It's usually someone doing lease options.

 

[TMNT]

I thought it was for people who are desperate to sell they will offer you $500k cash for a $600k property?

 

[Aaron Sice]

have a google for "housing wrap".

 

[Jacque]

It's usually vendor financing or otherwise known as "wrapping"
More here on this site http://www.aussiewrapper.com.au/Vendor-Finance.html

 

[willair]

Driving around Sydney I often see small signs nailed to electrical posts read "We buy homes Ph: [...]". I suspect it's some sort of scam looking to fleece people out of their home for below market value.

I'm wondering if anyone knows what this is about?

The only way is ring up and ask the question,but just play dumb and see the way it works, that way it gives you the maxim to have the last word..

 

[Beau Lyon]

Someone that ''read how to buy a house for $1'' and has an extra dollar burning a hole in their pocket.

 

[Starofdavid]

I clicked on that link...and read it..its vendor finance training..he will tell you how to do it if you send him money and he will send you reports.
I dont think this vendor finance is as easy as he makes out.
Lawyers will cost thousands.
What if they skip paynents ?
Then you have to go to court etc spend money on lawyers .
If its that easy why isnt everyone doing it ?

 

[willair]

If you have a spare 6 minutes 51 seconds may pay to have a look ,I'm not saying in any way this is what happens,but it does happen..

http://aca.ninemsn.com.au/

 

[Connolly]

HBU as others have detailed generally a vendor finance style strategy.
Popularised by cough 'real estate guru' 'millionaire maker' Rick Otton.
He is a big advocate of using marker and basic signage at high traffic flow areas to filter in prospects.

Google him, search for him on SS and various vendor finance strategies. Know a few people that have gone down this path/ strategy however don't know anyone that has come out infront. Not to say its impossible just make sure your eyes and ears are open