Here's how this works: These are house 'wholesalers'. I buy properties from them at times. They are the same people who have signs everywhere saying 'I will buy your house cash!' They suck desperate people in, find out how much they owe on their property, negotiate a price, say, $5k over what the people owe. That way the people selling the house make a 'profit'. What those people don't know is that the 'wholesalers' will find investors to flip the property to. They mark it up to lower than market value for a fast sell. The 'wholesaler' makes a profit, the desperate people get out from under that debt and make a small profit. So, no, they are not buying the property. They just network with investors and sell it. The sad thing is, if these people just called a real estate agent, put the house on the market, they would skip one middle man and walk away with more money.
im in south central austin and get them constantly. my neighborhood has been gentrifying for the last 2-3 years and they have been out like vultures. when they call i tell them all the same thing - "$500k and im out by the end of the week". that generally throws them off and they tell me that is more than what they had in mind. then i get real aggressive with them and start telling them how they are the ones who contacted me asking about my house and that i dont have time to play games. are you serious or not brah? dont waste my times. s*** or get off the pot. you want my house, then SHOW ME THE MONEY!
